3805 Wards Rd Lynchburg, VA 24502-2967

Property Details for 3805 Wards Rd

Year built

2015

Construction

FRAME

Lot size

0.94 lot acres

Property size

4,077 SF

Zone code

B5C

Property type

Car washes

APN

257 02 016

APU

25702016

Description

Exceptional investment opportunity: a Zips Car Wash in Lynchburg, VA, is available for purchase. This 4,456 square foot facility sits on a 0.94-acre lot and boasts a strong 6.50% cap rate, generating a net operating income (NOI) of $520,279. The property is under a triple-net (NNN) lease with a corporate guarantee, offering significant financial stability. The lease, commencing November 15, 2018, and expiring November 30, 2038, has a remaining term of 14 years, with 1.5% annual rent bumps. Six 5-year lease options provide long-term security. The car wash enjoys a prime location on Wards Road, a high-traffic area averaging 40,000 vehicles daily, directly across from Walmart Supercenter and Sam's Club. Numerous other national retailers are nearby, including Target, Michaels, Chick-fil-A, Starbucks, and the River Ridge Mall. The property benefits from a strong demographic profile, with a 5-mile population of 90,875 and an average household income of $73,013. Lynchburg's designation as a "Top College Town" by Travel & Leisure and USA Today, coupled with its robust school system and presence of several colleges and universities, contributes to market stability. Zips Car Wash operates over 280 locations across 25 states, demonstrating brand strength and operational expertise. This property presents a compelling investment opportunity with significant upside potential. The property was built in 2015 and currently operates at 100% occupancy. The asking price is $7,999,500.

Location Insight

City

Lynchburg

County

Lynchburg City

State

Virginia

Longitude

-79.1828

Latitude

37.3533

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments