Property Description

4023 Coliseum Crossing Drive is a newer construction, single-tenant Take 5 Car Wash built in 2020. This ±3,554 SF freestanding facility sits on a 0.91-acre parcel with direct frontage along Albemarle Road (U.S. Hwy 27)—a high-traffic corridor that sees over 49,000 vehicles per day. The site is strategically located within a strong retail trade area and adjacent to a Walmart Supercenter, offering excellent visibility, ingress/egress, and consumer demand.

The tenant, Take 5 Car Wash (Driven Brands), operates under a 15-year absolute NNN lease (corporate guaranteed) with zero landlord responsibilities and 10% rental increases every 5 years. With 11 years of term remaining (as of 2025) and a rent commencement date of July 2021, the asset offers secure, passive income with built-in rent growth and potential for bonus depreciation.

This is the kind of asset investors look for: essential service, national tenant, and zero management. 4023 Coliseum Crossing Dr. delivers a recession-resistant income stream backed by a corporate guarantee from Driven Brands, one of the largest automotive service platforms in North America. With a long-term lease, fixed escalations, and a strategic infill location near dense rooftops and anchored retail, this property offered buyers in 2024 a high-performing investment with both security and upside. The bonus depreciation benefits and durable car wash industry trends only strengthened its long-term appeal.

Location Description

Located within Charlotte’s east retail corridor, the property enjoys prime frontage on Albemarle Road (US-27), surrounded by major national retailers including Walmart, Dollar Tree, and Chick-fil-A. It benefits from a population of nearly 80,000 residents within a 3-mile radius and 130,000+ within 5 miles, with strong traffic patterns driven by both daily commuters and destination shoppers.

Charlotte continues to rank as one of the nation’s fastest-growing metropolitan areas, attracting both corporate relocations and steady population growth, creating a solid foundation for service-based retail, such as express car washes.

Property Highlights

• Tenant: Take 5 Car Wash (Driven Brands, corporate guaranteed)
• Lease Structure: 15-year absolute NNN lease (started July 2021)
• Term Remaining: 11 years (as of 2025)
• Rent Increases: 10% every 5 years
• Size: ±3,554 SF on 0.91 acres
• Traffic Count: 49,000+ VPD on Albemarle Rd
• Bonus depreciation eligible
• No landlord obligations

Location Highlights

• 49,000+ VPD on Albemarle Rd
• Directly adjacent to Walmart Supercenter
• Surrounded by national brands: Chick-fil-A, Waffle House, McDonald’s, Wendy’s
• Strong local demographics: 130,000+ population within 5 miles
• Infill location within Charlotte’s growing east submarket