1035 Parkway Blvd Athens, GA 30606
- Specialty properties
- 3,855 SF
- 0.71 lot acres
Current Use by Public Records
- Mister Car Wash / Car Wash
Property Details for 1035 Parkway Blvd
- Year built
- 2019
- Lot size
- 0.71 lot acres
- Property size
- 3,855 SF
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a fee-simple Mister Car Wash located at 1035 Parkway Blvd, Athens, GA 30606. The property boasts a substantial 3,855 square feet building on a 0.71-acre lot, built in 2019. Currently operating under a 20-year triple-net (NNN) lease with 15.1 years remaining, offering significant long-term stability and minimal landlord responsibilities. The lease features annual rent increases of 1.50%, ensuring consistent income growth. The current annual net operating income (NOI) stands at $353,349, translating to an attractive 7.00% capitalization rate. This property benefits from its strategic location within a thriving retail corridor, surrounded by major national retailers including Walmart, Lowe's, Kohl's, Chick-fil-A, Costco, Kroger, The Home Depot, and Starbucks, guaranteeing high visibility and consistent customer traffic. Furthermore, this investment qualifies for 15-year accelerated depreciation and bonus depreciation, offering considerable tax advantages (consult a Certified Public Accountant for details). The corporate guarantee provides additional security for this single-tenant, fee-simple ownership opportunity. This is a rare chance to acquire a high-performing, low-maintenance asset with substantial long-term growth potential. The asking price is $5,047,843.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Oconee
- State
- Georgia
- Longitude
- -83.4415
- Latitude
- 33.9216
