157 Plz Dr Forest City, NC 28043-3711
- Car washes
- 4,092 SF
- 1.39 lot acres
Sep 13, 2022
Current Use by Public Records
- Car washes
Property Details for 157 Plz Dr
- Lot size
- 1.39 lot acres
- Property size
- 4,092 SF
- Zone code
- M1
- Property type
- Car washes
- APN
- 1630142
- APU
- 1630142
Description
Exceptional investment opportunity: a thriving Mach-1 Express Car Wash in Forest City, North Carolina, presents a compelling proposition for discerning investors. This 4,092 square foot facility, constructed in 2020, sits on a 1.39-acre lot at 157 Plaza Dr, 28043, boasting excellent visibility and accessibility with approximately 21,000 vehicles passing daily. The property benefits from its strategic outparcel location to a Walmart Supercenter. Currently operating under a triple-net (NNN) lease with a corporate and personal guarantee, the lease commenced September 8, 2022, and has a remaining term of approximately 17.9 years, extending to September 30, 2042, with 4, 5-year renewal options. The lease includes a 1.50% annual rent increase. The property enjoys 100% occupancy, generating a strong net operating income (NOI) of $271,979, resulting in a 7.00% capitalization rate. The asking price is $3,885,000, translating to $949.41 per square foot. This investment is further enhanced by its location in an Opportunity Zone and Census Tract 9609. The property includes 22 parking spaces. This is a rare opportunity to acquire a high-performing, long-term leased asset in a prime location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,965,000
- ML approach
- $3,760,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Forest City
- County
- Rutherford
- State
- North Carolina
- Longitude
- -81.8969
- Latitude
- 35.3343
- CBSA code
- 22580
- CBSA name
- FOREST CITY, NC MICROPOLITAN STATISTICAL AREA
