Modwash (GL)

259 Beachwalk Blvd, Saint Johns, FL 32259

$2,545,000

Cap Rate 5.50%

Views: 105 Updated: 08.22.24 Posted: 11.28.23 Status: Inactive 10.03.24

Summary

Price $2,545,000	Built/Renov 2023	Tenant Modwash (GL)
Cap Rate 5.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,000	Lease Start 03-28-2024	#Units 87
Price/SF $848.33	Expiration 04-01-2039	Tenant Type Automotive
NOI $140,000	R. Term 14.3	Ownership Ground Lease
Rent/SF $46.67	Increases 8.0%/5/yrs	Pop 5Mi 82,747
Lot/AC 1.15	Options 5/5yrs/8%	AHHI 5Mi $150,933

Lease Highlights

Brand-new 2023 construction
ModWash recently signed a brand-new 15-year ground lease with 5 (5-year) options
Lease features 8% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Modwash is strategically located on Beachwalk Blvd, providing direct on and off-ramp access to Interstate 95, a major thoroughfare serving the east coast with a substantial traffic count of 116,000 VPD. Additionally, it is situated along County Rd. 210 (16,500 VPD). The property boasts excellent visibility and features multiple points of ingress and egress for convenient access. Notably, the...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Strong demographics
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Modwash Wikipedia St. Johns, Florida Zip Code 32259 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Modwash
Guarantor:Corporate
Company:HUTTON
# Units:87
Stock:Private

About Tenant

ModWash is a car service agency that provides express car wash services. The company offers single washes, as well as unlimited and family plan memberships, with their washes including bug spray,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,689	27,946	99,414
2023 Total Population :	3,130	22,649	84,566
2023 Employed Civilian Pop :	1,519	11,615	41,981
2023 Total Businesses :	28	455	1,698
2023 Average Household Income :	$ 142,946	$ 155,159	$ 155,297
2023 Total Consumer Spending :	$ 147 M	$ 1056 M	$ 4000 M
2023 Median Age :	34	35	35
2023 Total Households :	1,186	7,931	30,313
2023 Pop Age 25+: Bachelor's Degree :	808	5,452	18,876
2023 Average Home Value :	$ 468,487	$ 460,359	$ 472,420

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Beacon Lake Pkwy	2022	16,500	0.58 mi
Dixie Hwy	Palm Valley Rd	2010	19,596	0.60 mi
	Cross Ridge Dr	2022	25,500	0.61 mi
	Nocatee Pkwy	2022	11,500	0.76 mi
	Taylor Ridge Ave	2022	11,500	0.93 mi
Dixie Hwy	Palm Valley Rd	2010	18,368	0.96 mi
	Taylor Ridge Ave	2019	12,000	1.03 mi
	Taylor Ridge Ave	2022	11,500	1.03 mi
	Carrier Dr	2022	11,500	1.15 mi
DUVAL COUNTY LINE	Race Track Rd	2021	11,500	1.15 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
23350 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30206 Views
93 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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