Whistle Express Car Wash - Myrtle Beach, SC MSA

The Property was developed as a build-to-suit (BTS) for one of the leaders in the express car wash industry and was completed in January of 2024. This was the developer’s third BTS project for this operator. Prior to being completely scraped and redeveloped, the Property was a Ryan’s Family Steakhouse that originally opened in the late 1990’s. The Property is leased to Whistle Express on an initial 20-year absolute NNN term that commenced in January 2024. There are 4 options to renew for 5 years each with 2% annual rent increases throughout the initial term and option periods. Whistle Express is fully responsible for all costs associated with managing and maintaining the Property. The lease has a corporate guaranty with no burn-off or sunset period. The Property is located in the extremely popular Grand Strand region of South Carolina’s Atlantic coastline along the US Hwy 17 corridor, the market’s primary commercial and most traveled thoroughfare. Part of a strong trade area that anchors the southern end of the Myrtle Beach metro area, the Property is well positioned among a myriad of retail, restaurant, medical, office, hospitality, residential and recreation options.This newly constructed car wash in the Myrtle Beach, SC MSA is being offered at a 6.60% cap rate.Available for Ground Lease or Build-to-Suit Tenant Improvement Allowance Available 4% Leasing Commission on First 10 years of Term to Tenant Reps