2745 Powder Springs Rd Marietta, GA 30064

Property Details for 2745 Powder Springs Rd

Year built

2022

Lot size

1.86 lot acres

Property size

3,206 SF

Property type

Specialty properties

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,206 square foot, single-tenant car wash in Marietta, Georgia. Built in late 2022, the property boasts a 20-year absolute NNN lease with a corporate guarantee from Tidal Wave Auto Spa, the 4th largest conveyor car wash company in the US, currently operating in 28 states and expanding to 31 by year-end. The lease commenced on January 1st, 2023, with rent commencing December 31st, 2022, and includes 2% annual rent increases. The remaining lease term is 18.1 years, extending to December 31st, 2042, with five, 5-year renewal options. The property sits on a 1.86-acre lot and enjoys excellent visibility and access from Powder Springs Road, a high-traffic area with nearly 30,000 vehicles per day. Its strategic location is directly across from a Walmart Supercenter and within two miles of a major retail corridor including Lowe's, Target, T.J. Maxx, and a Wellstar Cobb Medical Center. The property generates a strong NOI of $374,544, yielding an 8.63% average cap rate over the remaining lease term. The asking price is $5,468,000. This recession-resistant business model benefits from 65% recurring subscription revenue. The property's location within a dense, affluent area with over 87,600 residents and an average household income exceeding $112,500 within a 10-minute drive further enhances its investment appeal. The property is eligible for bonus depreciation (confirmation with a CPA is recommended).

Location Insight

City

Marietta

County

Cobb

State

Georgia

Longitude

-84.6343

Latitude

33.865