Caliber Car Wash

5050 Minton Road, Palm Bay, FL 32907

$5,154,000

Cap Rate 6.50%

Views: 135 DOM: 281 Updated: 10.16.24 Posted: 02.16.24 Status: Active

Summary

Price $5,154,000	Built/Renov 2024	Tenant Caliber Car Wash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,763	Lease Start 02-01-2024	#Units 50
Price/SF $1,369.65	Expiration 02-01-2044	Tenant Type Automotive
NOI $335,000	R. Term 19.2	Ownership Fee Simple
Rent/SF $89.02	Increases 1.5%/1/yrs	Pop 5Mi 154,655
Lot/AC 1.04	Options 4/5yrs/1.5%	AHHI 5Mi $78,323

Lease Highlights

Brand new 2024 construction
Caliber Car Wash recently executed a brand new 20-year lease with 4 (5-year) options to extend
The lease features 1.5% annul rental increases throughout the initial term and each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Caliber Car Wash is strategically located on Minton Rd, with access to 44,300 vehicles passing by daily. The property enjoys a convenient location less than a mile from I-95 (80,000 VPD), facilitating direct on/off ramp access to the site. Furthermore, it is situated less than half a mile from Hammock Landing and Palm Crossings. Hammock Landing, a prominent power center, hosts major retailers...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Caliber Car Wash Wikipedia Palm Bay, Florida Zip Code 32907 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Caliber Car Wash
Guarantor:Corporate
Company:Caliber Carwash, LLC
# Units:50
Stock:Private

About Tenant

Caliber Car Wash is a leading express conveyor car wash platform with locations across the southern United States. The private company has built an industry-leading membership model and a strong...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,383	75,843	158,056
2023 Total Population :	4,910	75,089	154,655
2023 Employed Civilian Pop :	2,389	34,544	71,961
2023 Total Businesses :	239	1,486	5,743
2023 Average Household Income :	$ 88,831	$ 85,099	$ 78,323
2023 Total Consumer Spending :	$ 148 M	$ 2222 M	$ 4271 M
2023 Median Age :	47	45	44
2023 Total Households :	1,929	30,122	62,644
2023 Pop Age 25+: Bachelor's Degree :	658	11,952	22,179
2023 Average Home Value :	$ 333,808	$ 289,147	$ 276,917

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Minton Rd NE	Emerson Dr NE	2008	44,280	0.04 mi
Minton Rd	Hield Rd	2008	30,190	0.26 mi
Palm Bay Rd NE	Athens Dr	2007	27,320	0.26 mi
Emerson Dr NE	Jenkin Ave NE	2008	6,320	0.42 mi
Palm Bay Road Northeast	Riviera Dr NE	2022	33,000	0.48 mi
Palm Bay Road Northeast	Welser Ave NE	2021	33,000	0.48 mi
Palm Bay Rd NE	Armory Dr NE	2007	30,670	0.49 mi
Norfolk Parkway	Ellis Dr	2022	11,300	0.62 mi
Norfolk Parkway	Culver Dr NE	2021	11,300	0.62 mi
Minton Road Northwest	Nesbitt St NE	2022	31,500	0.77 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
21091 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27548 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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