LUV Car Wash

1555 Dunn Avenue, Jacksonville, FL 32218

$2,500,000

Cap Rate 6.25%

Views: 162 DOM: 105 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 19.10	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

Peter Deltondo

Marcus & Millichap

Contact

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,...

...

Key Features

Signalized intersection
Recent renovation
Dense retail corridor
Near major nationals
Top 100 MSA
Income tax free state
Brand new lease
Long 20+ yr lease
Accelerated depreciation
Corporate Guarantee

...

Links

LUV Car Wash Wikipedia Jacksonville, Florida Zip Code 32218 Broker Site Page

Maps

Local Information

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...

...

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT