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Miscellaneous

International Car Wash Group - Bonus Depreciation

27375 Carronade Dr, Perrysburg, OH 43551

Listing Price: $3,424,134

Cap Rate
5.15%
Tenant Name
International Car Wash Group
Years Remaining On Lease
17.5
Guarantor
Corporate Guarantee
Rentable SF
4,176
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.23

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an ICWG located at 27375 Carronade Dr in Perrysburg, OH. The tenant entered a brand new, 20-year triple-net (NNN) lease with no landlord responsibilities on November 5, 2019. There are 1.75% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease has a corporate guarantee by International Car Wash Group (“ICWG”). ICWG operates more than 950 locations throughout the United States and Internationally.

Investment Highlights

  • Accelerated & Bonus Depreciation: The Property Qualifies For Both 100% Bonus Depreciation & Fifteen Year Accelerated Depreciation
  • Long Term Lease With Zero Landlord Responsibilities & Annual Increases: True Triple Net (NNN) Lease With Approximately 17.50 Years Remaining In Initial Term With 1.75% Annual Rental Increases
  • Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by International Car Wash Group "ICWG" With More Than 950 Locations Across Europe, Australia and the U.S.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Miscellaneous

International Car Wash Group - Bonus Depreciation

Listing Price: $3,424,134

Cap Rate
5.15%
Tenant Name
International Car Wash Group
Years Remaining On Lease
17.5
Guarantor
Corporate Guarantee
Rentable SF
4,176
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.23

Investment Highlights

  • Accelerated & Bonus Depreciation: The Property Qualifies For Both 100% Bonus Depreciation & Fifteen Year Accelerated Depreciation
  • Long Term Lease With Zero Landlord Responsibilities & Annual Increases: True Triple Net (NNN) Lease With Approximately 17.50 Years Remaining In Initial Term With 1.75% Annual Rental Increases
  • Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by International Car Wash Group "ICWG" With More Than 950 Locations Across Europe, Australia and the U.S.

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an ICWG located at 27375 Carronade Dr in Perrysburg, OH. The tenant entered a brand new, 20-year triple-net (NNN) lease with no landlord responsibilities on November 5, 2019. There are 1.75% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease has a corporate guarantee by International Car Wash Group (“ICWG”). ICWG operates more than 950 locations throughout the United States and Internationally.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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