Address: US Hwy 17 & Hwy 210 , Hampstead, North Carolina, United States 28443
Type: Net Leased Car Wash
Cap Rate: 7.00%
Lease Type: Triple Net (NNN)
Annual Rent: $290,000
Net Operating Income: $29,000
Lease Term Remaining: 20 Years
Rental Increases: 1.50% Annually
Options: Four (4), Five (5) Year Option Periods
Year Built: 2019
Rentable Sq/Ft: 4,500 SF
Rent Sq/Ft: $64.44
Price Sq/Ft: $921
Lot Size: +/-0.94 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Caliber Car Wash located at US Hwy 17 & Hwy 210, Hampstead, NC. The property consists of 4,500 square feet of building space and is situated on approximately 0.94 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the close of escrow. The lease will call for 1.50% rental increases annually that will continue through the base term and into the four, five-year tenant renewal options. The lease will carry a personal guaranty for the first five years of the lease which then converts to a corporate guaranty from Caliber Car Wash. Caliber Car Wash currently is in the process of developing 12 car washes across the southeastern United States and has significant plans for expansion.
This Caliber Car Wash property is located at the intersection of Highway 17 and Highway210 in Hampstead, North Carolina. Hampstead is located in Pender County, approximately 15 miles from downtown Wilmington.
This Caliber Car Wash is strategically located on an easily accessible and visible shopping center outparcel near a major three-way intersection. The subject property is surrounded by many major national tenants including Food Lion, CVS Pharmacy, Ace Hardware, Family Dollar, McDonald’s, Dunkin’ Donuts, Hardee’s, and many more. Highway 17 provides for easy transportation access to nearby cities including Wilmington and Jacksonville. The area has an above average household income of almost $86,000 within a three mile radius of the property. Additionally, this location is just miles from the sprawling beaches of North Carolina.
The subject property has approximately 14,794 individuals residing within a five-mile radius and 62,042 individuals within a ten-mile radius of the property. This property is located on Highway 17, which experiences an average daily traffic count of 35,800 vehicles. Highway 17 intersects Highway 210, which brings an additional 7,790 vehicles through the immediate area daily.
Hampstead is located between Wilmington and Jacksonville on Highway 17 and is part of the Wilmington Metropolitan Statistical Area. Wilmington is a port city as well as the county seat of New Hanover County. The city is a major tourist attraction due to its close proximity to the Atlantic Ocean (only 15 minutes west of the city). Visitors are drawn to the city by the charming historic district, lively arts scene, a major seaport, the University of North Carolina Wilmington, the Battleship North Carolina, Gothic churches, and riverfront shops. Wilmington’s natural attributes shine with miles of unspoiled beaches and outstanding seafood restaurants along the coast. The city retains a charming, small town atmosphere despite being the largest city in southeastern North Carolina and the eighth largest city in the state. Wilmington’s thriving business climate has attracted corporations such as GE Hitachi Nuclear Energy, Corning, Verizon Wireless, and PPD. The city continues to experience tremendous income and population growth due to job growth and a strong education base.
Broker of Record: Benjamin Yelm – License # 303785