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2745 Powder Springs Rd SW - Corporate Tidal Wave Auto Spa | 18+ Yr NNN

3,206 SF Specialty Building Offered at $7,694,460 CAD at a 6.85% Cap Rate in Marietta, GA 30064

Investment Highlights

  • Long-term, passive investment | Tenant is operating under a 20-year, absolute NNN lease | 18+ years remaining on the base term
  • 2% annual rent increases throughout the initial term and options | Yields an 8.63% average return over the remaining lease term
  • Newer (late 2022) construction asset
  • Corporately guaranteed lease | Tidal Wave Auto Spa is the 4th largest conveyor car wash company with 280+ locations across 28 states
  • Dense and affluent area | 87,600+ residents with an average HH income exceeding $112,500 within a 10-minute drive
  • Excellent access and visibility from Powder Springs Road which sees nearly 30,000 VPD

Executive Summary

• Long-term, passive investment | Tenant is operating under a 20-year, absolute NNN lease | 18+ years remaining on the base term
• Corporately guaranteed lease | Tidal Wave Auto Spa is the 4th largest conveyor car wash company with 280+ locations across 28 states | Will operate in 31 states by year-end
• In 2020, Golden Gate Capital, a leading private equity investment firm, announced the recapitalization of Tidal Wave | Golden Gate
currently has $20B cumulative capital committed across 115 companies
• Ranked on Inc.’s 5000 fastest-growing private companies for the 5th consecutive year
• Ranked #34 on the 2024 Consumer Services industry honorees
• 2% annual rent increases throughout the initial term and options | Yields an 8.63% average return over the remaining lease term
• Newer (late 2022) construction asset
• Excellent access and visibility from Powder Springs Road which sees nearly 30,000 VPD
• Directly across the street from a Walmart Supercenter
• Fee-simple ownership qualifies the investment for Bonus Deprecation | Confirm with your accountant | See chart on pg. 5 for Bonus
Depreciation monetary benefit
• Dense and affluent area | 87,600+ residents with an average HH income exceeding $112,500 within a 10-minute drive
• Recession resistant concept with 65% of revenue coming from recurring subscriptions
• About 2 miles from an incredible retail corridor that includes:
• East West Commons | 425,000 SF open air shopping center anchored by Lowe’s, Target, and T.J. Maxx
• Wellstar Cobb Medical Center | 387-bed hospital
• Brookwood Square | An LA Fitness-anchored shopping center
• A Kohl’s & Ross-anchored shopping center
• A Hobby Lobby and Floor & Décor-anchored shopping center

Property Facts

Price $7,694,460 CAD
Price Per SF $2,400 CAD
Sale Type Investment
Cap Rate 6.85%
Sale Conditions Build to Suit
Property Type Specialty
Property Subtype Car Wash
Building Class C
Lot Size 1.86 AC
Building Size 3,206 SF
No. Stories 1
Year Built 2023
Parking Ratio 11.85/1,000 SF

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
19-0839-0-010-0
Land Assessment
$453,390 CAD
Improvements Assessment
$384,341 CAD
Total Assessment
$837,731 CAD

zoning

Zoning Code CRC (Community Retail Commercial District)
CRC (Community Retail Commercial District)
  • Listing ID: 33689957

  • Date on Market: 2024-10-30

  • Last Updated:

  • Address: 2745 Powder Springs Rd SW, Marietta, GA 30064

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