3955 Ashley Phosphate Rd North Charleston, SC 29418-8583
- Car washes
- 7,647 SF
- 1.49 lot acres
Current Use by Public Records
- Car washes
Property Details for 3955 Ashley Phosphate Rd
- Year built
- 2007
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.49 lot acres
- Property size
- 7,647 SF
- Zone code
- I_DC
- Property type
- Car washes
- APN
- 172-15-15-020
- APU
- 1721515020
Description
This fee-simple investment opportunity presents a 5,039 square foot Zips Car Wash located at 3955 Ashley Phosphate Rd, North Charleston, SC 29418, in Dorchester County. The property sits on a 0.66-acre lot and boasts a strong 7.65% cap rate, generating a net operating income (NOI) of $274,041. Built in 2007, the car wash operates under a 20-year absolute triple-net (NNN) lease with approximately 14.1 years remaining, providing significant long-term stability. The lease commenced December 28, 2018, and expires December 31, 2038. Annual rent increases of 1.00% are built into the lease, ensuring consistent growth. Further enhancing the investment potential are six five-year tenant renewal options, extending the potential lease term to 50 years. The property is priced at $3,582,235, translating to $710.90 per square foot. This offering qualifies for 15-year accelerated depreciation and bonus depreciation, providing significant tax advantages. The tenant, Zips Car Wash, benefits from a recent $70 million investment by Atlantic Street Capital, solidifying their financial strength and commitment to the location. This is a compelling investment opportunity with substantial long-term returns and built-in growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $5,215,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,760,000
- 6.5%
- $4,205,000
- 7%
- $3,880,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,195,000
- Geo Method
- $4,150,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,355,000
- Retail
- $4,225,000
- Mixed-Use
- $3,790,000
- Hospitality
- $3,300,000
- Educational
- $3,875,000
- Residential Income
- $3,570,000
- Energy
- $3,665,000
- Income-Based Land
- $3,630,000
- Food Service
- $3,315,000
Location Insight
- Map
- Local Demand
- City
- North Charleston
- County
- Dorchester
- State
- South Carolina
- Longitude
- -80.0932
- Latitude
- 32.9222
- CBSA code
- 16700
- CBSA name
- CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA
