About the Investment

• Long-Term Absolute Triple-Net Lease | This property is subject to a 20-year absolute triple-net lease which will commence upon the close of escrow. The lease will have no landlord responsibilities.
• Attractive Rent Increases | The lease will feature scheduled increases of 2.00% annually, providing a hedge against inflation and yielding a 7.59% blended asking cap rate.
• Corporate Guarantee | The lease will be corporately guaranteed by El Car Wash, a private equity-backed operator with over 100 operating and development locations across Florida and Michigan.
• Bonus Depreciation | This property qualifies for 15-year accelerated depreciation as well as bonus depreciation. Discuss with a Certified Public Accountant for further details.
• Robust Market Demand | The at-home driveway car wash, much like the DIY oil change, has become a relic of the past. According to the International Car Wash Association, the share of car washes performed at professional facilities surged from 50% in 1996 to 79% in 2021 - and demand has continued to climb steadily over the past four years.
• Income Tax Free State | Florida is 1 of 9 income tax free states in the United States. Ownership of an asset in an income tax free state can provide several benefits to landlords. Discuss with a Certified Public Accountant for further details.