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International Car Wash Group

Batesburg-Leesville, South Carolina

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Marcus & Millichap is pleased to present the exclusive listing for 143B E Church St in Batesburg-Leesville, SC. The tenant will enter into a brand new, 20-year triple-net (NNN) lease upon close of escrow with absolutely no landlord responsibilities. The base annual rent will be $139,400 and will be subject to 1.50% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease will have a corporate guarantee. International Car Wash Group operates more than 900 locations throughout the United States and Internationally. The property is 3,500 rentable square feet and is situated on 1.12 acres.

About the Investment:

  • 20-Year Triple-Net (NNN) Sale-Leaseback: At Closing the Tenant Will Execute a Brand New 20-Year Absolute Triple-Net Lease. The Lease Will Have No Landlord Responsibilities.
  • Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by International Car Wash Group Ltd. (UK) “ICWG” and the More Than 900 Locations Across Europe, Australia and the U.S.
  • Accelerated Depreciation: This Property Qualifies for 15 Year Accelerated Depreciation

About the Location:

  • Dense Retail Corridor| Walmart, CVS Pharmacy, Taco Bell, Sonic, Pizza Hut, KFC, Waffle House, Wendy’s, McDonald’s, Dollar General, AutoZone, and more
  • Strong Demographics | Population of about 30,000 within a 10-Mile Radius
  • Above Average Employment Rate | The Unemployment Rate in Batesburg-Leesville is About 3.7%, Which is Less Than The National Average of 6%
  • Positive Real Estate Fundamentals | Located 29 Miles East of Columbia Metropolitan Airport | Main Commercial Airport For Columbia and the Midlands Region of South Carolina and Sees Over 1.1 Million Passengers Each Year

About Tenant/Brand:

  • The World’s Largest Car Wash Company: ICWG was Founded In 1965 and is Now the World’s Largest Car Wash Operator, Washing More Than 35 Million Cars Every Year.
  • In August 2015, ICWG entered the U.S. market and now operates more than 135 locations, making it the country’s second largest operator.
  • Favorable Industry Trends: In the U.S., the Percentage of Drivers that Wash their Vehicle at a Professional Car Wash has Increased from 47% in 1994 to 72% in 2014.

Key Details

Price:
$2,534,545
Cap Rate:
5.50%
Annual Rent:
$139,400
Address:
143B E Church St, Batesburg-Leesville, South Carolina 29070
Property Type:
Net-Leased Car Wash
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
1.5% Annually
Lot Size:
+/-1.12 Acres
Building Size:
3,500 SF
Year Built:
2018
Tenant:
International Car Wash Group

Broker of record

Ben Yelm

License: 86628


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