Tidal Wave Auto Spa

Millington, Tennessee

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:: 8165 US-51, Millington, Tennessee 38053
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:: 3 Acres
Building Size:: 3,165 SF
Year Built:: 2023
Tenant:: Tidal Wave Auto Spa

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Ryan Sblendorio

rsblendorio@nnnpro.com

License: 10401309105

John Winslow

jwinslow@nnnpro.com

License: 10401334977

Gordon Pollock

gpollock@nnnpro.com

License: 10401370688

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