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International Car Wash Group

Columbus, Ohio

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About the Investment

✓ Qualifies For Bonus Depreciation: The Property Qualifies for 100% Bonus Depreciation In Year One of Ownership
✓ Long Term Lease With Zero Landlord Responsibilities & Annual Increases: True Triple Net (NNN) Lease With Approximately 17.75 Years Remaining In Initial Term With 1.75% Annual Rental Increases and Four, Five-Year Extension Options
✓ Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by International Car Wash Group Ltd. (UK) “ICWG” With More Than 950 Locations Across Europe, Australia and the U.S.
✓ Strong Store Sales: Please Inquire With Listing Agent For More Information

About the Location

✓ The Ohio State University | Seven Miles from the Subject Property | 66,000+ Students Enrolled
✓ OhioHealth Grant Medical Center| Less Than Seven Miles from the Subject Property | 434-Bed Teaching Hospital and Acute Care Medical Facility
✓ OhioHealth Doctors Hospital | Less Than Two Miles from the Subject Property |
213- Bed Tertiary Care Teaching Hospital
✓ Dense Retail Corridor | Home Depot, Target, Kroger, Giant Eagle Supermarket, Save A Lot, Value City, Big Lots, CVS, Dollar Tree, Family Dollar, McDonald’s, Shoppers World, Tim Horton’s, Popeyes, Boston Market, and Many More

About the 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 150 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:
$4,193,196
Cap Rate:
5.85%
Annual Rent:
$245,302
Address:
3941 West Broad Street, Columbus, Ohio 43228
Property Type:
Net- Leased Car Wash
Lease Type:
Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
10/18/2018
Lease Expiration:
10/18/2038
Lease Term Remaining:
17+ Years
Rental Increases:
1.75 %
Lot Size:
2.33 Acres
Building Size:
3,190 SF
Tenant:
International Car Wash Group

Broker of record

Michael Glass

License: BRK.2007005898


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