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Views: 95 DOM: 229 Updated: 08.08.24 Posted: 01.31.24 Status: Active

Summary

Price $5,350,000
Built/Renov 2023
Tenant Tidal Wave Auto Spa
Cap Rate 6.86%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,206
Lease Start 01-01-2023
#Units 150
Price/SF $1,668.75
Expiration 01-01-2043
Tenant Type Automotive
NOI $367,200
R. Term 18.3
Ownership Fee Simple
Rent/SF $114.54
Increases 2.0%/1/yrs
Pop 5Mi 153,943
Lot/AC 1.86
Options 4/5yrs/2%
AHHI 5Mi $104,316

Lease Highlights

  • Tidal Wave Auto Spa has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rent increases throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Tidal Wave is strategically located on Powder Springs Road, with excellent visibility and access to 21,300 vehicles passing by daily. The property also benefits from its close proximity to State Highway 5, which experiences a traffic count of 39,300 VPD. State Highway 5 serves as a significant thoroughfare connecting the interstates across Atlanta's western suburbs. Furthermore, the site is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Tidal Wave Auto Spa
  • Guarantor:Corporate
  • Company:Tidal Wave Auto Spa, LLC
  • # Units:150
  • Stock:Private

About Tenant

Founded in 1999, Tidal Wave Auto Spa is an industry-leading conveyor car wash company located in the Southeast and Midwest. The company is committed to providing cutting-edge car care technology,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,428 61,253 157,154
2023 Total Population : 4,450 60,431 153,943
2023 Employed Civilian Pop : 2,401 30,101 76,649
2023 Total Businesses : 182 1,454 3,323
2023 Average Household Income : $ 76,699 $ 93,828 $ 104,316
2023 Total Consumer Spending : $ 110 M $ 1746 M $ 4877 M
2023 Median Age : 38 38 38
2023 Total Households : 1,655 21,537 54,231
2023 Pop Age 25+: Bachelor's Degree : 805 8,765 25,114
2023 Average Home Value : $ 279,215 $ 307,661 $ 333,523
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Anderson Farm Road Southwest Old Anderson Farm Rd 2021 8,030 0.27 mi
Pine Grove Drive Robertswood Dr 2021 690 0.27 mi
Macedonia Rd Laura Brown Way 2004 7,536 0.35 mi
Powder Springs St S Crane Dr 2005 10,520 0.38 mi
Powder Springs St S Sanders Rd SW 2005 20,170 0.60 mi
Foxglove Dr Foxglove Ct 2004 175 0.69 mi
Skyline Pl SW Martha Ln SW 2003 49 0.74 mi
Macedonia Road Avondale Pkwy 2018 6,550 0.82 mi
E W Con E W Con SW 2013 34,680 0.88 mi
Powder Springs St S Perch Ct SW 2013 18,340 0.94 mi

Listing Broker

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