North Charleston, SC - Autobell Car Wash

Description:

• The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The company currently operates 95 locations in the Southeast and Mid-Atlantic, with consistent expansion

• The site is located along Ashley Phosphate Rd, a major retail road that averages over 73,200 vehicles passing by daily
• The subject property benefits from nearby direct on/off ramp access to Interstate 26, a major thoroughfare that averages 160,000 VPD
• The asset is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s (93rd percentile Placer.AI), Home Depot (91st percentile Placer.AI), Walmart, Target, Aldi, Petco, Hobby Lobby, Starbucks, Crunch Fitness, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The surrounding area will benefit from future development of Drury Plaza Hotel (252 rooms), WaterWalk Corporate Lodging (126 rooms), 7-Eleven, Clutch Coffee, and more
• North Charleston has an average annual population increases of 1.7% the past 5 years, with future projected growth to reach 45% by 2040

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Listing ID: a28TP000001fnH7YAI