2955 Warm Springs Rd Columbus, GA 31909

Property Details for 2955 Warm Springs Rd

Year built

2017

Lot size

1.03 lot acres

Property type

Specialty properties

Property subtype

Car washes

Description

This exceptional investment opportunity presents a fee-simple interest in a Landshark Car Wash located at 2955 Warm Springs Rd, Columbus, GA 31909. The property boasts a 3,223 square foot building on a 1.03-acre lot, constructed in 2017 and renovated in 2023. The property benefits from an absolute NNN lease with a national tenant, Landshark Car Wash, providing significant passive income with minimal landlord responsibilities. The current lease commenced May 27, 2022, and has a remaining term of 18.3 years, expiring February 28, 2043, with two 10-year renewal options at 2% annual rent increases. Rent bumps of 2% annually begin July 2025. The property generates a strong Net Operating Income (NOI) of $370,000, resulting in a 6.90% cap rate. The asking price is $5,360,000. This prime location is freeway adjacent, positioned at the intersection of Manchester Expressway (50,000 cars per day) and Interstate 185 (70,000 cars per day), and directly across from Peachtree Mall, a super-regional shopping center attracting over 10 million annual visitors. The surrounding area demonstrates robust population growth, with 182,250 people within a 5-mile radius and a 30.5% population increase from 2010 to 2020. The property's Parcel Number (APN) is 069-013-001. This investment is ideal for bonus depreciation, and the lease includes corporate and personal guarantees.