tidal wave...tidal wave auto spa first began washing cars in 2004 in atlanta, georgia with $271,000...

FISCHER ROAD

FISCHER ROAD

NOR

SHARPSBURG, GA

NEW 20-YEAR SALE LEASEBACK PROVEN HIGH PERFORMING LOCATION IN DOMINANT RETAIL CORRIDOR

TIDAL WAVE

Contact the team

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

IN CONJUNCTION WITH GA LICENSED BROKER: John ParkBerkshire Realty, [email protected]

JUSTIN [email protected]: 415.274.2706 CA DRE# 01856228

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Overview

TIDAL WAVE5040 E, GA-34, SHARPSBURG, GA 30277

6.40%CAP

$5,750,000PRICE

LEASE TYPE: NNNLEASE TERM: 20 YEARSLEASABLE AREA: 6,121 SFLAND AREA: 0.99 ACYEAR BUILT: 2016

New 20-year absolute NNN lease to top carwash operator in the U.S.

1.25% annual rent increases and three 5-year renewal options

High performing and proven location – Extremely strong EBITDAR to rent coverage ratio

Signalized hard corner location – High visibility with direct exposure to over 37,000 vehicles per day

Dense retail corridor – Anchored by Costco, Sam’s Club, Kaiser Permanente, over 150,000k SF of additional retail and office in various stages of development


https://www.google.com/maps/place/5040+GA-34,+Sharpsburg,+GA+30277/@33.3990318,-84.6266572,16.35z/data=!4m5!3m4!1s0x88f4c18d2150d40b:0x3d90cfb8fa9ede7b!8m2!3d33.4030341!4d-84.627841

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 4

Investment Highlights

CAPITAL PACIFIC is pleased to present an opportunity to acquire a high performing Tidal Wave Auto Spa located in a dense retail corridor in Sharpsburg, GA. The tenant will enter into a brand new 20-year absolute NNN lease with zero landlord expense or maintenance responsibilities upon the close of escrow. The lease features 1.25% rental increases annually throughout the primary term. The subject property is a proven express car wash that has performed at a high level since 2016. Tidal Wave Auto Spa is ranked in the Top 10 leading car wash operators in the country with 48 locations in operation and approximately 15 planned car washes in various stages of development.

THE SUBJECT PROPERTY is an outparcel to a Sam’s Club and is situated on the hard corner at the highly trafficked intersection of GA Highway 34 and Fischer Road with direct exposure of over 37,000 vehicles per day. This dense retail corridor is experiencing significant new growth with recent developments including Costco, Kaiser Permanente, and over 150,000 SF of additional development planned in the immediate vicinity.

TIDAL WAVE IS A NATIONALLY TOP RANKED OPERATOR WITH 48 LOCATIONS IN 7 STATES

THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS IS OVER $113K

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COVID-19 Response from Tidal Wave

Wednesday, April 8th COVID-19 Update

Tidal Wave Auto Spa has created a truly contactless experience for its customers. One of the safest places you can visit is one of our car washes. Customers can conveniently wash their cars without ever exiting their vehicle through our express tunnel.

The safety of our employees and customers is our number one priority. All Tidal Wave employees take preventative measures to comply with all CDC regulations. Car Wash operations provide a basic, sanitizing service that is essential to health and safety. The Department of Homeland Security has stated that sanitizing vehicles and providing routine automobile maintenance is an essential part of our national infrastructure.

It is imperative that first responders, Ubers, Lyft and food delivery services sanitize their vehicles as often as possible. We offer all first responders a complimentary Tire Shine Wash to show our appreciation and be sure their vehicles are safe.

Each new day presents new challenges. Tidal Wave is confident it can meet these challenges and continue to provide safe and quality service to all of its customers.

The preceding information is current as of April 8, 2020. As the situation with Covid-19 is evolving rapidly, information is subject to change. Please contact listing broker for updates or with questions.


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Income & Expense

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 6

PRICEPrice: $5,750,000

Capitalization Rate: 6.40%

Price Per Square Foot: $939.39

Lot Size (AC): 0.99

Total Rentable Area (SF): 100.00% 6,121

INCOME PSFScheduled Rent $60.12 $368,000

EFFECTIVE GROSS INCOME $368,000

EXPENSE PSFTaxes NNN $0

Insurance NNN $0

CAM NNN $0

NET OPERATING INCOME $368,000

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Rent Roll


TENANT INFO LEASE TERM RENT SUMMARY

TENANT NAME SQ. FT. TERM YEARS CURRENT RENT MONTHLY RENT YEARLY RENT

Tidal Wave - Sharpsburg GA 6,121 1 $368,000 $30,667 $368,0002 $31,050 $372,6003 $31,438 $377,2584 1.25% ANNUAL

INCREASE $31,831 $381,973

5 $32,229 $386,7486 $32,632 $391,5827 $33,040 $396,4778 $33,453 $401,4339 $33,871 $406,45110 $34,294 $411,53211 $34,723 $416,67612 $35,157 $421,88413 $35,596 $427,15814 $36,041 $432,49715 $36,492 $437,90316 $36,948 $443,37717 $37,410 $448,91918 $37,878 $454,53119 $38,351 $460,21220 $38,830 $465,965

Option 1 21-26 7.50% IncreaseOption 2 26-31 7.50% IncreaseOption 3 31-36 7.50% IncreaseOption 4 36-41 7.50% Increase

TOTALS: 6,121 $368,000 $30,667 $368,000

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Site Plan

FISCHER ROAD

FISCHER ROAD

FISCHER ROAD

FISCHER CRO

SSING

S DRIV

E

MONUMENT SIGN

34

34

34

34

34

CANOPY

CANOPY

7,524 VPD

30,100 VPD

Site Plan

8This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

6,121RENTABLE SF

0.99ACRES

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Tenant Overview

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Tidal Wave Auto Spa first began washing cars in 2004 in Atlanta, Georgia with $271,000 in annual sales. Since then, Tidal Wave Auto Spa has successfully grown to $53M in annual sales and growing rapidly with locations in Georgia, Missouri, North Carolina, South Carolina, Kansas City, Texas, and Florida. Tidal Wave currently has 48 operational stores, and approximately 15 additional locations in various stages of development.

Tidal Wave Auto Spa has been highly successful with its Unlimited Wash Club, generating over 3,000 members within the first eight months after opening. On average members will wash their car three to four times per month. At this rate members are receiving a genuine value for their monthly membership fee.

Since its inception in 2004, Tidal Wave Auto Spa has not closed a single location. Tidal Wave Auto Spa locations are washing approximately 400,000 cars per month.

ABOUT TIDAL WAVE AUTO SPA

Tenant Overview


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1010

Surrounding Retail

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Zoomed-In Aerial

111111This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

30,100VPD

7,524VPD

FISCHER ROADFISCHER ROAD

34

PEACHTREE CITY

ELEMENTARY SCHOOL

$50 MILLION SENIOR LIVING

PROJECT COMING 2020

Retail Aerial

COMING 2020

UNDERCONTRACT

COMING 2020

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30,100VPD

Retail Aerial

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FISCHER ROADFISCHER ROAD

UNDERCONTRACT

FISCHER MARKETPLACE – APPROVED

150,000 SF MIXED USE PROJECT

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54

54

54

74

74

74

54

34

FLOY FARR PARKWAYFLOY FARR PARKWAY

FISCHER RO

AD

FISCHER RO

AD

JOEL CO

WAN

PARKWAY

JOEL CO

WAN

PARKWAY

SCHOOL

GOLF COURSE

TENNIS CENTER

ELEMENTARY SCHOOL

30,100 VPD

42,410 VPD

30,260 VPD

20,100 VPD

ATLANTA

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Aerial

FISCHER MARKETPLACE – APPROVED

150,000 SF MIXED USE PROJECT


THOMASTON

THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS

IS OVER $113K

Demographics

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SHARPSBURG

POPULATION

1-MILE 3-MILES 5-MILES

2010 1,049 20,642 59,238

2019 1,323 22,614 64,377

2024 1,551 24,249 68,128

TOP EMPLOYERS IN GEORGIA

EMPLOYER # OF EMPLOYEES

Delta Air Lines, Inc. 80,000

Renal Division-Emory University 40,000

US Army Fort Benning 32,000

Robins Air Force Base 20,868

Fort Stewart 3rd Infantry Division 20,000

2019 HH INCOME

1-MILE 3-MILES 5-MILES

Average $113,863 $113,745 $113,161

Median $89,894 $93,267 $90,907

ATLANTA(38 MILES)

COLLEGE PARK

MCDONOUGH

COVINGTON

JONESBORO


SHARPSBURG, GEORGIA

SHARPSBURG is a small incorporated village located in Coweta County approximately 38 miles south of downtown Atlanta, GA. Sharpsburg offers rural living with the convenience of a nearby major metro area, easily accessible via Interstate 85 and multiple state highways.

COWETA COUNTY is strategically located along and near major transportation systems, including Interstate 85, both CSX and Norfolk Southern railroads and Hartsfield-Jackson Atlanta International Airport. Coweta County’s population is projected to grow 20.6% between 2015 and 2025.

5.9 MILLION ATLANTA-SAND SPRINGS-ROSEWELL MSA POPULATION (ESTIMATED)

ATLANTA

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Location Overview

THE ATLANTA MSA spans over 140 cities and towns, 39 counties, and 5.94 million residents. Atlanta is the ninth-largest MSA and the 4th fastest growing MSA in the U.S., and by 2040, the metro is expected to grow to nearly 9 million people.

Atlanta is the economic hub of the Southeast, which is the fastest growing region in the U.S. The city’s thriving economy and job base, coupled with its high quality and low cost of living, make it an ideal destination to draw young and educated talent from the region’s major universities.


ATLANTA MSA

The subject property is located less than thirty minutes from downtown Atlanta, the largest city within the state of Georgia. The Atlanta MSA has a population of over

5.94 million residents across nine counties and is the ninth-largest MSA in the United States.

Atlanta is home to Hartsfield-Jackson International Airport, known as the busiest airport in the world, serving over 275,000 passengers and 2,700 arrivals and departures a day. Atlanta is also home to 16 Fortune 500 companies, including The Home Depot, United Parcel Service (UPS), Coca-Cola, and Delta Airlines. Atlanta has more than 66 colleges and universities offering higher education options to more than 100,000 students enrolled in the city. The city has major profession league teams in almost every sport including: MLB - the Atlanta Braves, NBA - the Atlanta Hawks, NFL - the Atlanta Falcons, and MLS - the Atlanta United FC.

Atlanta MSA


GENERAL STATS1ST LARGEST CITY IN GEORGIA

9TH LARGEST MSA IN THE U.S.

16 FORTUNE 500 HEADQUARTERS

1ST BUSIEST AIRPORT IN THE WORLD

2.98 MILLION JOBS IN THE METRO AREA

#1 MOST AFFORDABLE BIG CITY NAMED BY WALLETHUB

ATLANTA

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Copyright © 2020 Capital Pacific Partners


Contact us.

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM.

CAPITALPACIFIC.COM

IN CONJUNCTION WITH GA LICENSED BROKER: John ParkBerkshire Realty, [email protected]

JUSTIN [email protected]: 415.274.2706 CA DRE# 01856228

https://capitalpacific.com/team/

https://www.capitalpacific.com/

tidal wave...tidal wave auto spa first began washing cars in 2004 in atlanta, georgia with $271,000...

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