2801 Demere Rd Immeuble | 743 m² | Spécialité | À vendre 3 277 063 € | Taux de capitalisation 5,35 % | St Simons Island, GA 31522

Marcus & Millichap is pleased to present a ground sale-leaseback opportunity for the St. Simons Wash, with a 20-year initial lease term and 5, 5-year options. The initial and option terms have 5% rental increases every 5 years. Situated upon 1.34 acres of real estate with a substantial amount of intrinsic value, the +/- 8,000 SF Car/Laundry/Dog Wash was built in 1998 and renovated considerably in 2023 and fronts Demere Rd., 13,800 Vehicles Per Day(VPD), a major St. Simons Island artery that is one of two roads that connect with the F J Torras Causeway, the only throughfare connecting St. Simons Island with the mainland of Glynn County, Brunswick. As the only car wash on St. Simons Island, the Saint Simons Wash is well positioned to continue to have strong growth in annual sales within its provided array of services: car washing, laundromat, and dog washing, as no other property on the island comprehensively services these niches. Should a would-be competitor try to enter Saint Simons Island, the extremely high barriers to entry from a zoning/use/entitlement front, as well as from a property scarcity/affordability front, make it extremely difficult to find somewhere feasible financially and from a layout/configuration standpoint. Therefore, the St. Simons Wash’s quasi-monopoly should remain in place long term. Danny York is the owner/operator of the St. Simons Wash and is the founder of Caliber Car Wash. More details of Danny’s experience can be provided upon request.
The property is in the heart of St. Simons Island, and within a five-mile radius, the average household income is ~$130,000. St. Simons Island is the largest barrier island in the Golden Isles, home to world-class golf clubs and Forbes Five-Star/AAA Five-Diamond Resorts, and was voted Travel + Leisure’s #1 Best Island in the Continental United States. St. Simons Island and the surrounding barrier island members of Sea Island, Jekyll Island, and Little St. Simons Island, as well as the mainland city of Brunswick, make up the Golden Isles, which is a hotbed for tourism, resulting in over 3.2 million overnight visitors annually, creating an economic impact of over 1.7 billion. The Golden Isles are within Glynn County, which has the fastest-growing Tourism & Hospitality sector on the Georgia coast and is second in the state outside the Atlanta Metro Area, per the Golden Isles Convention & Visitors Bureau.