10 Ford Way - 7.00% CAP | Qualifies for Bonus Depreciation
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10 Ford Way - 7.00% CAP | Qualifies for Bonus Depreciation
4,160 SF Speciality Building Offered at £4,100,821 at a 7.25% Net Initial Yield in Carrollton, GA 30116
Investment Highlights
- Absolute NNN Lease: No Landlord Responsibilities
- 10% rental increases every 5 years
- Atlanta MSA: 6.3+ million residents, 6th largest in the US
- 15 Year Lease Term with options to renew lease
- National Car Wash Brand - Tommy’s Express Car Wash now has over 202 locations nationwide
- Strategic location on Bankhead Highway (34,500 VPD)
Executive Summary
BROKER OF RECORD - Leon Novak, CCIM - The Trilogy Group, LLC - License No. 6506
Faris Lee Investments is pleased to present the rare opportunity to acquire the fee simple interest in a freestanding, drive-thru, net-leased Tommy’s Express Car Wash property in the Atlanta GA MSA. The subject property has strategic frontage on Bankhead Highway, the main thoroughfare in Carrollton leading to downtown Atlanta GA (±34,500 VPD). This drive-thru express car wash will be commencing a fresh 15+ year lease with 10% rental increases occurring every 5 years of the lease term, at the close of escrow. This property has zero landlord responsibilities, which makes it the ideal investment opportunity for a passive investor looking for a well-located NNN property and potential bonus depreciation benefits.
Tommy’s Express Car Wash is one of the most well-regarded express car wash brands in the United States. A concept created in 2016 by a family of 50-year car wash operators, the brand now has 202 locations with many more projected in 2024-2025. The brand gained national recognition after experiencing 881% sales growth during 2019-2021. Newsweek recently rated Tommy’s Express Car Wash as #2 best Customer Service in the Car Wash category. In addition, Franchise Times ranked Tommy’s Express #1 in the “Fast & Serious” ranking of the smartest growing brands, across all industries in 2023. There are many barriers to entry when building a car wash, and Tommy’s mix of quality franchise operators and proprietary car wash systems/products has created sustainable success. The average Tommy’s Express Car Wash location costs $6M-$8M to build, and franchise operators are required at least $2M liquid capital and $5M net worth to qualify as a Tommy’s Express franchisee with full ownership.
The subject property is situated amongst economic drivers and retailers located around the intersection of Bankhead Highway and Highway 166. Neighboring businesses include Chick-fil-A, Express Oil Change & Tire Engineers, Regal Cinema, LongHorn Steakhouse, Wendy’s, Zaxby’s, McDonald’s, Waffle House, Big Lots, Dollar Tree, and more. These retailers are supported by over 46,500 residents within a 5-mile radius. Atlanta is the third fastest growing MSA in the United States, and is the economic hub of the southeast region.
Faris Lee Investments is pleased to present the rare opportunity to acquire the fee simple interest in a freestanding, drive-thru, net-leased Tommy’s Express Car Wash property in the Atlanta GA MSA. The subject property has strategic frontage on Bankhead Highway, the main thoroughfare in Carrollton leading to downtown Atlanta GA (±34,500 VPD). This drive-thru express car wash will be commencing a fresh 15+ year lease with 10% rental increases occurring every 5 years of the lease term, at the close of escrow. This property has zero landlord responsibilities, which makes it the ideal investment opportunity for a passive investor looking for a well-located NNN property and potential bonus depreciation benefits.
Tommy’s Express Car Wash is one of the most well-regarded express car wash brands in the United States. A concept created in 2016 by a family of 50-year car wash operators, the brand now has 202 locations with many more projected in 2024-2025. The brand gained national recognition after experiencing 881% sales growth during 2019-2021. Newsweek recently rated Tommy’s Express Car Wash as #2 best Customer Service in the Car Wash category. In addition, Franchise Times ranked Tommy’s Express #1 in the “Fast & Serious” ranking of the smartest growing brands, across all industries in 2023. There are many barriers to entry when building a car wash, and Tommy’s mix of quality franchise operators and proprietary car wash systems/products has created sustainable success. The average Tommy’s Express Car Wash location costs $6M-$8M to build, and franchise operators are required at least $2M liquid capital and $5M net worth to qualify as a Tommy’s Express franchisee with full ownership.
The subject property is situated amongst economic drivers and retailers located around the intersection of Bankhead Highway and Highway 166. Neighboring businesses include Chick-fil-A, Express Oil Change & Tire Engineers, Regal Cinema, LongHorn Steakhouse, Wendy’s, Zaxby’s, McDonald’s, Waffle House, Big Lots, Dollar Tree, and more. These retailers are supported by over 46,500 residents within a 5-mile radius. Atlanta is the third fastest growing MSA in the United States, and is the economic hub of the southeast region.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
|
| Vacancy Loss |
-
|
-
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| Effective Gross Income |
-
|
-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £4,100,821 | Building Class | B |
| Price Per SF | £986 | Lot Size | 1.33 AC |
| Sale Type | Investment | Building Size | 4,160 SF |
| Net Initial Yield | 7.25% | Number of Floors | 1 |
| Property Type | Speciality | Year Built | 2018 |
| Property Subtype | Car Wash |
| Price | £4,100,821 |
| Price Per SF | £986 |
| Sale Type | Investment |
| Net Initial Yield | 7.25% |
| Property Type | Speciality |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.33 AC |
| Building Size | 4,160 SF |
| Number of Floors | 1 |
| Year Built | 2018 |
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PROPERTY TAXES
| Parcel Number | C04-0220054 | Improvements Assessment | £255,414 (2023) |
| Land Assessment | £218,773 (2023) | Total Assessment | £474,187 (2023) |
PROPERTY TAXES
Parcel Number
C04-0220054
Land Assessment
£218,773 (2023)
Improvements Assessment
£255,414 (2023)
Total Assessment
£474,187 (2023)
zoning
| Zoning Code | C2 |
| C2 |
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10 Ford Way - 7.00% CAP | Qualifies for Bonus Depreciation
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