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Views: 190 DOM: 173 Updated: 07.09.24 Posted: 06.03.24 Status: Contract

Summary

Price $2,500,000
Built/Renov 2008/2023
Tenant LUV Car Wash
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,231
Lease Start 08-01-2024
#Units 75
Price/SF $590.88
Expiration 07-31-2044
Tenant Type Automotive
NOI $156,250
R. Term 19.8
Ownership Fee Simple
Rent/SF $36.93
Increases 2.0%/1/yrs
Pop 5Mi 112,318
Lot/AC 0.89
Options 4/5yrs/2%
AHHI 5Mi $58,353

Lease Highlights

  • LUV Car Wash will be executing a brand new 20-year lease with 4 (5-year) options to extend at the close of escrow
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • A portion of the property is subleased to Take 5 Oil Change | Contact Listing Broker for details
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

LUV Car Wash is strategically located on Dunn Avenue, with access to 34,200 vehicles passing by daily. The property also serves as an access route to Interstate 95, which brings an additional 102,200 vehicles into the vicinity. The immediate area is surrounded by well-known national tenants, including Walmart, Publix, The Home Depot, Sam's Club, McDonald's, Starbucks, and more. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: LUV Car Wash
  • Guarantor:Corporate
  • Company:Susquehanna Int'l Group
  • # Units:75
  • Stock:Private

About Tenant

LUV Car Wash (LUV) is a holding company formed to pursue a strategic buy-and-build within the car wash industry. LUV is primarily focused on partnering with high-quality, express 2.0 washes...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 9,113 49,176 119,594
2024 Total Population : 9,072 48,452 114,266
2024 Employed Civilian Pop : 4,363 23,098 52,636
2024 Total Businesses : 351 1,558 3,744
2024 Average Household Income : $ 67,452 $ 75,043 $ 72,076
2024 Total Consumer Spending : $ 216 M $ 1257 M $ 2895 M
2024 Median Age : 36 38 39
2024 Total Households : 3,606 18,834 45,030
2024 Pop Age 25+: Bachelor's Degree : 673 4,318 10,939
2024 Average Home Value : $ 217,937 $ 329,770 $ 320,383
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Biscayne Blvd 1601-1 Dunn Ap 2010 6,150 0.04 mi
Dunn Ave 1601-1 Dunn Ap 2010 18,900 0.09 mi
Biscayne Blvd Ithaca Dr 2010 3,616 0.10 mi
Dunn Ave Biscayne Blvd 2010 31,500 0.11 mi
Dunn Avenue Haverford Rd 2022 32,000 0.23 mi
Dunn Avenue Mar Vic Ln 2022 20,500 0.45 mi
Broward Road Biscayne Blvd 2022 7,300 0.52 mi
Leonid Road E Pine Estates R 2022 8,900 0.63 mi
Dunn Avenue Regency Dr 2022 35,000 0.71 mi
Harts Rd Dunn Ave 2010 12,733 0.83 mi

Listing Broker

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