Caliber Car Wash

Fort Walton Beach, FL

Key Details

Price:$3,509,843
Cap Rate:5.75%
Annual Rent:$201,816
Address:162 Eglin Parkway Northeast, Fort Walton Beach, Florida 32548
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:20 Years
Lease Commencement:3/1/2022
Lease Expiration:2/28/2042
Lease Term Remaining:17.3 Years
Rental Increases:1.50% Annually
Lot Size:0.51 Acres
Building Size:2,373 SF
Year Built:2014
Year Renovated:2021
NNN Pro is pleased to present the exclusive listing for a Caliber Car Wash located at 162 Eglin Parkway Northeast, Fort Walton Beach, Florida 32548. The site consists of roughly 2373 rentable square feet of building space on an estimated 0.51-acre parcel of land. This Caliber Car Wash is subject to a 20-year Triple Net (NNN) lease, which commenced 3/1/2022. The current annual rent is $201,816 and has scheduled increases of 1.50% Annually.

About the Investment

  • Long-Term, Absolute Triple Net (NNN) Lease The lease is an original 20-year lease with over 17 years of term remaining. The lease is an absolute NNN lease and features no landlord responsibilities.
  • Attractive Rental Increases The lease will feature 1.50% rental increases occurring annually.
  • Corporate Guarantee The lease will be subject to a strong corporate guarantee from Clydsdale Holdings LLC. Caliber is one of the fastest-growing express car wash businesses in the country currently operating over 50 washes in Florida, North Carolina, South Carolina, Georgia, Alabama, and Texas.

Talk to the Pros

Headshot

Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Jonathan Eckerd

jeckerd@nnnpro.com
License: AZ: SA663487000

Broker of Record

Brian Brockman

Bang Realty-Naples, Inc
License: BK3327646
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.