September 8, 2021 – Zach Smith of Horvath & Tremblay has successfully completed the sale of a Car Wash USA (owned and operated by International Car Wash Group) in Atoka, Tennessee. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,752,991.
Car Wash USA is owned and operated by International Car Wash Group and is located at 11435 US Highway 51 in Atoka, Tennessee. The stand-alone building consists of 4,375 square feet on 1.00 acre of land. This is a sale leaseback of the Property, and Car Wash USA signed a new 20-year Triple Net Lease with four, 5-Year Options at the close of escrow. The lease features attractive 1.5% annual rent increases throughout both the current term and the option periods. Car Wash USA is owned by International Car Wash Group, the world’s largest car wash company. ICWG has more than 950 locations worldwide, with more than 200 locations in the United States. The Property is well located along a dense retail corridor and is surrounded by national retailers including a Kroger, the area’s primary grocery store. The Property benefits from strong traffic counts and is less than 30-miles from Memphis, Tennessee.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.