Landshark Car Wash

145 Ernest W Barrett Parkway Northwest, Marietta, GA 30066

$5,360,000

Cap Rate 6.90%

Views: 88 DOM: 148 Updated: 10.30.24 Posted: 08.05.24 Status: Active

Summary

Price $5,360,000	Built/Renov 2008/2023	Tenant Landshark Car Wash
Cap Rate 6.90%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,192	Lease Start 02-16-2023	#Units 125
Price/SF $1,679.20	Expiration 02-28-2043	Tenant Type Automotive
NOI $370,000	R. Term 18.2	Ownership Fee Simple
Rent/SF $115.91	Increases 2.0%/1/yrs	Pop 5Mi 179,508
Lot/AC 0.85	Options 2/10yrs/2%	AHHI 5Mi $110,020

Lease Highlights

Landshark Car Wash has 18+ years remaining on the current lease term with 2 (10-year) options to extend
The lease features 2% annual rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate and personal guarantee for the entire lease term

Location Description

Landshark Car Wash is strategically located at the signalized, hard corner intersection of Ernest Barrett Parkway and Barrett Creek Blvd, with access to a combined daily traffic count of 27,800 vehicles. The property is situated across from Town Center at Cobb, which attracts 4.1 million customers each year and is recognized as Northwest Atlanta’s largest shopping destination and the top...

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Key Features

Signalized intersection
Recent renovation
Dense retail corridor
Freeway close
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Landshark Car Wash Wikipedia Marietta, Georgia Zip Code 30066 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Landshark Car Wash
Guarantor:Corporate
Company:Freeman Spogli & Co
# Units:125
Stock:Private

About Tenant

LandShark Car Wash offers a wide range of services including exterior and interior car washing, detailing, and waxing. The Car wash boats a family-friendly environment that includes a comfy lounge...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	6,849	59,170	184,574
2024 Total Population :	6,661	58,203	182,988
2024 Employed Civilian Pop :	4,038	32,605	99,797
2024 Total Businesses :	511	4,297	10,360
2024 Average Household Income :	$ 105,806	$ 111,013	$ 130,518
2024 Total Consumer Spending :	$ 281 M	$ 2226 M	$ 8016 M
2024 Median Age :	37	34	37
2024 Total Households :	3,034	22,850	70,570
2024 Pop Age 25+: Bachelor's Degree :	947	11,375	40,422
2024 Average Home Value :	$ 451,598	$ 438,768	$ 465,674

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Ernest W Barrett Pkwy	Prado Ln	2013	25,940	0.01 mi
Ernest W. Barrett Parkway Northwest		2019	24,600	0.20 mi
Ernest W. Barrett Parkway Northwest	Bells Ferry Rd	2018	24,500	0.20 mi
I- 575	Ernest W Barrett Pkwy	2013	4,870	0.34 mi
		2019	8,780	0.36 mi
Heritage Park Cir	Heritage Park Cir NW	2019	4,950	0.41 mi
I 59		2019	5,840	0.42 mi
Nottley Dr	Cavendar Way	2018	5,700	0.42 mi
Town Center Dr	Towne Center Access Rd NW	2019	7,990	0.45 mi
Ernest W Barrett Pkwy	Mall Blvd NW	2018	43,600	0.48 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
18032 Views
65 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
18474 Views
63 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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