Investment Offering
Cumming, GA - Mister Car Wash
1780 Buford Highway | Cumming, GA 30041
$6,421,000
Price6%
Cap Rate$385,261
NOI4,117
± SF Offering GLA1.61
± AC Land AreaDescription
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Mister Car Wash investment property located in Cumming, Georgia (Atlanta MSA). The tenant has approximately 18 years remaining on its current lease term with 5 (5-year) options to extend. The lease features 1.5% annual rental increases, steadily growing NOI and hedging against inflation. The lease is guaranteed by a subsidiary of the corporate entity and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Mister Car Wash is a leading car wash brand with over 420 locations across the United States.
Location
The subject property is strategically located along Buford Highway, averaging 33,000 vehicles passing by daily. In addition, the site is located in close proximity to U.S. Highway 19, a major north-south highway serving the Eastern United States serving 75,000 vehicles per day. The car wash benefits from excellent visibility via significant street frontage and a large monument sign. Furthermore, the asset is ideally situated in a dense, regional retail corridor with nearby national/credit tenants including Aldi, Publix, Walgreens, Target, Walmart Supercenter, The Home Depot, Lowe’s, Ross Dress for Less, JoAnn Fabrics, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 117,000 residents and 40,000 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast an extremely affluent average household income of $186,548. Cumming, Georgia, a wealthy suburb of Atlanta, is located in Forsyth County, one of the fastest-growing regions of the United States.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215