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Tidal Wave Auto Spa

Sylacauga, Alabama

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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 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 100% Bonus Depreciation.

Compelling Location Fundamentals:

  • Strategic Asset Positioning | Outparcel to Walmart Supercenter
  • Located in a Densely Populated Residential and Retail Corridor | Major National Tenants Include: Walmart, The Home Depot, Dollar Tree, NAPA Auto Parts, Hobby Lobby, Starbucks, Chick-fil-A, Subway, Zaxby’s, Popeyes, and Many More
  • Heavily Trafficked Area | Over 20,000 VPD Along US-280
  • Strong Academic Presence | 7 Schools Located Within a Five-Mile Radius |Total Combined Enrollment Exceeds 3,100 Students

Strong Brand, Exceptional Operator:

  • Founded in 1999, Tidal Wave’s current footprint consists of 91 locations across 14 states in the Southeast and the Midwest.
  • Unit count has grown 50% annually since 2017.
  • The Company’s exceptional team and proprietary technology, cleaning products and systems deliver the highest quality car washes, complemented by unmatched customer service and state-of-the-art facilities.
  • Tidal Wave is differentiated by its unique Unlimited Wash Club, which offers customers unbeatable value across an array of options, including exterior and interior cleaning, as well as a family plan.

Key Details

Price:
$6,000,000
Cap Rate:
5.50%
Annual Rent:
$330,000
Address:
41191 US-280, Sylacauga, Alabama 35150
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:
2.00% Annually
Lot Size:
+/-1.00 Acres
Building Size:
3,600 SF
Year Built:
2022
Tenant:
Tidal Wave Auto Spa

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Ryan Sblendorio

License: 10401309105

John Winslow

License: 10401334977

Broker of record

Eddie Greenhalgh

License: 00008-8298


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