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Tsunami Express Car Wash 4120 Franklin St 3,416 SF Retail Building Michigan City, IN 46360 $6,356,289 CAD ($1,860.74 CAD/SF) 6.75% Cap Rate
Investment Highlights
- Bonus Depreciation
- Institutionally Backed
- Corporate Guarantee from Tsunami Express Car Wash (70+ Units)
- 20-Year Absolute Triple Net (NNN) Lease
Executive Summary
Surmount is pleased to present the exclusive listing for a Tsunami Express Car Wash located at 4120 Franklin Street, Michigan City, IN 46360. The site consists of roughly 3,416 rentable square feet of building space on an estimated .98-acre parcel of land. Tsunami Express Car Wash is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $311,850 and has scheduled increases of 2.00% Annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
3,416 SF
Year Built
2017
Price
$6,356,289 CAD
Price Per SF
$1,860.74 CAD
Cap Rate
6.75%
NOI
$429,049 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.98 AC
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 46-05-09-101-013.000-009 | Improvements Assessment | $412,306 CAD |
| Land Assessment | $237,800 CAD | Total Assessment | $650,106 CAD |
Property Taxes
Parcel Number
46-05-09-101-013.000-009
Land Assessment
$237,800 CAD
Improvements Assessment
$412,306 CAD
Total Assessment
$650,106 CAD
Contacts
-
Edward Otocka -
James Westerberg -
Gordon Pollock -
Glen Kunofsky -
Christopher Marks -
Surmount
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Tsunami Express Car Wash | 4120 Franklin St
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