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Views: 29 DOM: 62 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 3,824
Lease Start 12-01-2024
#Units 43
Price/SF $1,778.24
Expiration 11-30-2044
Tenant Type Automotive
NOI $425,000
R. Term 20.0
Ownership Fee Simple
Rent/SF $111.14
Increases 2.0%/1/yrs
Pop 5Mi 258,047
Lot/AC 1.20
Options 6/5yrs/2%
AHHI 5Mi $98,091

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 Okeechobee Road, with access to 31,075 vehicles passing by daily. The property is an outparcel to Home Depot and within walking distance of the newly developed Shoppes at Highland shopping center, anchored by Publix, Burlington, dd’s Discounts, and HomeGoods. It is also close to the newly developed Emerald Bay Apartments and Residences of Highland...

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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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