Catylist ID:
#30862984
AutoZone | Mach-1 Express Wash | Sale-Leaseback
Retail-Commercial
for Sale
| Catylist Listing ID: | 30862984 |
| Property Subtypes: | Car Wash, Other |
| Building Size (RSF): | 10,692 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 2.53 SF |
| Sale Price: | $4,171,232 |
| Unit Price: | $390.13 PSF |
| Property Use Type: | Net Leased Investment (NNN) |
| Sale Terms: | Sale/Leaseback |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/20/2024 |
Overview / Comments
|
B4 Properties is pleased to present the opportunity to acquire an AutoZone and Mach-1 Express Wash in Fairhope, Alabama. The tenants are located on a single 2.53 acre parcel, and subject to a ground and absolute NNN Lease (respectively). AutoZone consists of 6,816 square feet and has been in existence since 2018. With a 15 year lease expiring in 2033 AutoZone will have the option to renew for an additional 5 years at a 10% rate increase. Beyond 2038, they will have 3 additional options which will allow for them to extend their stay until 2053. Mach-1 Express Wash, Highly Experienced Operator: Owner has over 15+ years of car wash experience and has developed, constructed, owned, and operated over 30car wash sites across numerous states a family owned and operated company express car wash platform. opened in 2020 and currently occupies a 3,876 square foot facility which includes a 100-foot long wash tunnel. The Mach-1 lease, to be signed upon closing, will be for a term of 20 years that includes four (4) five (5) year options, and will provide for 1.5% annual escalations for each lease year. The subject property, situated on the growth corridor of AL-181, is located on an outparcel in front of WalMart, not far from a future 80 acre PUD development site. Neighboring Tenants include: Murphy USA, afc Urgent Care and Aldi. PLEASE SEE OM ATTACHED FOR ADDITIONAL INFO! |
Attachments & Media
Additional Details
| Nearest MSA: | Daphne-Fairhope-Foley |
| County: | Baldwin |
| Tax ID/APN: | 05-46-06-14-0-000-001.982 |
| Zoning: | B-3 |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Hwy 98 |
| Feet of Frontage: | 411 |
| Construction/Siding: | Other |
| Lot Frontage: | 411 |
| Land Ownership: | FST |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 17,222 | 37,706 |
| Median Age: | 43.75 | 42.66 |
| Households: | 7,287 | 14,976 |
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