El Car Wash
Altamonte Springs, FL
Key Details
| Price: | $6,800,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $425,000 |
| Address: | 399 Florida 436, Altamonte Springs, Florida 32714 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.88 Acres |
| Building Size: | 1,440 SF |
| Year Built: | 2023 |
NNN Pro is pleased to present the exclusive listing for a El Car Wash located at 399 Florida 436, Altamonte Springs, Florida 32714. The site consists of roughly 1440 rentable square feet of building space on an estimated 0.88-acre parcel of land. This El Car Wash is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $425,000 and has scheduled increases of 2.00% Annually.
About the Investment
- Absolute Triple Net Lease | This investment property is subject to an absolute triple net lease with zero landlord responsibilities.
- Long-Term Lease | This investment property is subject to a 20-year lease as of the close of escrow, generating long-term cash flow security.
- Annual Rental Increases | This investment property is subect to 2% annual rental increases, serving as a hedge against inflation.
- 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 states can provide several benefits to landlords. Discuss with a Certified Public Accountant for further details.
- Bonus Depreciation | This investment property qualifies for 15-year accelerated depreciation as well as bonus depreciation. Discuss with a Certified Public Account for further details.
- Growing Concept | El Car Wash has plans to grow to over 60 locations in Florida and beyond.
Key Details
| Price: | $6,800,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $425,000 |
| Address: | 399 Florida 436, Altamonte Springs, Florida 32714 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.88 Acres |
| Building Size: | 1,440 SF |
| Year Built: | 2023 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Ryan Sblendorio
rsblendorio@nnnpro.com
License: NY: 10401309105
Robert Arruda
rarruda@nnnpro.com
License: NY: 10401382143
Howard Curd
hcurd@nnnpro.com
License: NY: 10401339720
Luke Babcock
lbabcock@nnnpro.com
License: NY: 10401387024
Broker of Record
Brian Brockman
Bang Realty-Naples, Inc
License: BK3327646
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.