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Views: 112 DOM: 223 Updated: 08.12.24 Posted: 04.13.24 Status: Contract 06.05.24

Summary

Price $8,317,000
Built/Renov 2024
Tenant El Car Wash
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,340
Lease Start 07-01-2024
#Units 40
Price/SF $2,490.12
Expiration 06-30-2044
Tenant Type Automotive
NOI $499,000
R. Term 19.7
Ownership Fee Simple
Rent/SF $149.40
Increases 2.0%/1/yrs
Pop 5Mi 475,809
Lot/AC 1.01
Options 6/5yrs/2%
AHHI 5Mi $105,191

Lease Highlights

  • Brand new 2024 construction
  • El Car Wash will be executing a brand new 20-year lease with 6 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

El Car Wash is strategically located at the signalized, hard corner intersection of SW 72nd Street/Sunset Drive, with access to a combined daily traffic count of 38,850 vehicles. The property is situated less than 1.5 miles away from The Palms at Town & Country, an open-air lifestyle and power center featuring renowned national tenants such as DICK’S, Nordstrom Rack, Publix, Marshalls, and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: El Car Wash
  • Guarantor:Corporate
  • Company:Warburg Pincus
  • # Units:40
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 24,103 148,459 465,970
2023 Total Population : 24,899 153,108 475,809
2023 Employed Civilian Pop : 13,465 80,719 248,150
2023 Total Businesses : 1,036 7,348 27,854
2023 Average Household Income : $ 95,484 $ 108,959 $ 105,191
2023 Total Consumer Spending : $ 769 M $ 5111 M $ 15217 M
2023 Median Age : 42 44 43
2023 Total Households : 9,384 54,752 168,238
2023 Pop Age 25+: Bachelor's Degree : 5,136 28,985 87,356
2023 Average Home Value : $ 374,141 $ 481,832 $ 474,609
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Snapper Creek Drive SW 108th Ct 2022 2,300 0.16 mi
SW 72nd St SW 107th Ave 2005 41,000 0.16 mi
SW 107th Ave SW 72nd St 2003 29,500 0.24 mi
SW 107th Ave SW 73rd Ln 2009 35,800 0.27 mi
Southwest 72nd Street SW 112th Pl 2022 37,000 0.33 mi
SW 72nd St SW 103rd Pl 2009 40,500 0.43 mi
Southwest 64th Street SW 109th Ave 2022 2,400 0.46 mi
Southwest 107th Avenue SW 64th St 2022 22,500 0.51 mi
Southwest 107th Avenue SW 79th St 2022 34,500 0.57 mi
SW 107th Ave SW 83rd St 2005 36,000 0.70 mi

Listing Broker

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