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Property profile & analytics
OFF-MARKET Estimated value $265,000
Car washes

726 Leonard Ave Albemarle, NC 28001

1,950 SF 0.43 ac lot Built 2010
Entity Owned 16-yr Hold Absentee Owner Free & Clear
Property ID
US53-2376700
Property summary
AI-generated overview

This exceptional investment opportunity presents two thriving car washes in the Charlotte MSA, North Carolina. The portfolio includes two strategically located properties, one in Albemarle and one in Concord. The Albemarle location boasts a prime retail position, situated on the main drag in front of major retailers such as Walmart, Tractor Supply, T.J. Maxx, and Hobby Lobby. This location benefits from exceptionally high daily vehicle traffic exceeding 20,000 vehicles per quarter mile. The Concord location is similarly situated near the Carolina Mall and enjoys highway frontage on Branchview Drive, with over 21,000 vehicles passing daily. This location also includes approximately 0.70 acres of cleared land, presenting a significant value-add development opportunity. Both locations are situated within a rapidly growing area, experiencing a 50% population increase since 2002. The portfolio is offered at $2,450,000 and is currently operating at 100% occupancy. This is a rare opportunity to acquire a turnkey, high-performing car wash portfolio in a dynamic market. The properties can be sold individually or as a package. Detailed financial information is available upon request.

Property profile
Verified
Property type Car washes
Use group CAR WASH
Year built 2010
Total area 1,950 SF
Lot 0.43 ac (18,731 SF)
Zoning code GHBD
APN 654804817149
UPID US53-2376700
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Eco Car Wash Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$265k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$265k
Owner & transaction history
A & M Dev LLC · 16 yrs held
A & M Dev LLC
since 2010
6 recorded transactions
2022
Price N/A
2021
Price N/A
2020
Price N/A
2010
$400,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
GHBD · Albemarle, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

7 R-4 Traditional Neighborhood Design District 92.098 R-O Residential-Office Re-Use District 92.099 NBD Neighborhood Business District 92.100 CBD Central Business District 92.101 NS Neighborhood Shopping District 92.102 GHBD General Highway Business District 92.103 SCD Shopping Center District 92.104 MUSCD Mixed Use Shopping Center District 92.105 HMD Hospit…

Zone name General Highway Business District
General category COMMERCIAL
Zone area 968.77 ac
Source CHAPTER 92: ZONING REGULATIONS
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