Caliber Car Wash

960 U.S. Highway 1, Vero Beach, FL 32960

$4,593,000

Cap Rate 6.75%

Views: 116 DOM: 347 Updated: 08.16.24 Posted: 09.27.23 Status: Contract

Summary

Price $4,593,000	Built/Renov 2023	Tenant Caliber Car Wash
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,286	Lease Start 10-15-2023	#Units 38
Price/SF $1,397.75	Expiration 11-01-2043	Tenant Type Automotive
NOI $310,000	R. Term 19.1	Ownership Fee Simple
Rent/SF $94.34	Increases 1.3%/1/yrs	Pop 5Mi 95,046
Lot/AC 1.50	Options 4/5yrs/1.25%	AHHI 5Mi $92,482

Lease Highlights

Brand new 2023 construction
Caliber Car Wash recently signed a brand new 20-year lease with 4 (5-year) options to extend
Lease features 1.25% annual rental increases
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Caliber Carwash, LLC

Location Description

Caliber Car Wash is strategically located at the hard corner intersection of 10th Street and US Route 1 with access to 27,600 vehicles per day. The site is strategically located adjacent to two car dealerships, Dyer Chevrolet and Dyer Subaru, providing a direct consumer base for the site to draw from. Neighboring national/credit tenants in the area include Taco Bell, Wawa, Popeyes, Dollar...

...

Key Features

New construction
Hard corner intersection
Dense retail corridor
Affluent suburb location
Income tax free state
Brand new lease
Absolute NNN
Accelerated depreciation
Annual rent increases
Corporate Guarantee

...

Links

Caliber Car Wash Wikipedia Vero Beach, Florida Zip Code 32960 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Caliber Car Wash
Guarantor:Corporate
Company:Caliber Carwash, LLC
# Units:38
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...

...

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S US Hwy 1	10th St	2000	27,640	0.09 mi
	11th St	2022	23,500	0.19 mi
8th Street	Hwy 1	2021	7,700	0.22 mi
8th St	8th Ct	2000	8,958	0.24 mi
Old Dixie Highway	9th Pl	2021	10,600	0.27 mi
12th St	6th Ave	2000	6,601	0.34 mi
12th Street	Commerce Ave	2019	15,900	0.35 mi
12th Street	11th Ave	2021	14,100	0.35 mi
12th Street	6th Ave	2022	14,100	0.35 mi
8th Pl	8th Ct	2000	6,663	0.36 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

171 Listings
14880 Views
40 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

247 Listings
19909 Views
83 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

...

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

...

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