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Views: 85 DOM: 92 Updated: 09.20.24 Posted: 09.20.24 Status: Active

Summary

Price $6,800,000
Built/Renov 2024
Tenant El Car Wash
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,900
Lease Start 12-01-2024
#Units 43
Price/SF $1,743.59
Expiration 11-30-2044
Tenant Type Automotive
NOI $425,000
R. Term 19.11
Ownership Fee Simple
Rent/SF $108.97
Increases 2.0%/1/yrs
Pop 5Mi 245,692
Lot/AC 1.38
Options 6/5yrs/2%
AHHI 5Mi $117,949

Lease Highlights

  • Brand new, state-of-the-art construction with El Car Wash’s latest prototype and a 100-ft tunnel
  • New 20-year lease with 6 (5-year) options to extend at close of escrow
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

El Car Wash is strategically located on Lake Worth Road, with access to a robust daily traffic count of 70,050 vehicles. The property is within a 1-mile radius of nearly 2,300 newly developed or under-construction homes. It is situated in the same retail center as prominent national tenants such as ALDI, Chipotle, and RaceTrac. The site is also within walking distance of The Shoppes at Polo...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: El Car Wash
  • Guarantor:Corporate
  • Company:Warburg Pincus LLC
  • # Units:43
  • Stock:Private

About Tenant

El Car Wash is the premier express car wash operator offering an unlimited wash program, high-quality products, leading customer service, and an environmentally friendly focus, establishing the...


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Listing Broker

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