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Tidal Wave Auto Spa

Savannah, Georgia

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About the Investment:

✓ 20-Year Triple-Net (NNN) Lease: At closing the tenant will execute a brand new 20-year absolute triple-net (NNN) lease. The lease will have no landlord responsibilities.
✓ Corporate Guaranty: The lease will carry a corporate guaranty from New Potato Creek Holdings, the corporate entity for Tidal Wave Auto Spa.
✓ Attractive Rental Increases: The lease will feature 2.00% annual rental increases that will continue through the base term and into the five, five-year tenant renewal option periods.
✓ Potential Tax Benefits: Qualifies for 80% Bonus Depreciation (please consult your CPA).

Key Details

Price:
$5,500,000
Cap Rate:
6.15%
Annual Rent:
$338,250
Address:
2001 East Victory Drive, Savannah, Georgia 31404
Property Type:
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:
2.0% Annually
Lot Size:
1 Acres
Building Size:
3,600 SF
Year Built:
2023
Tenant:
Tidal Wave Auto Spa

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Ryan Sblendorio

License: 10401309105

John Winslow

License: 10401334977

Gordon Pollock

License: 10401370688


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