Prime Car Wash 20 Year NNN Lease

14190 Beach Blvd, Jacksonville, FL 32250, USA
$6,050,420

Description

Marcus & Millichap is pleased to present for sale this freestanding, single tenant Prime Car Wash located in Jacksonville, Florida. Jacksonville is the most populous city in Florida and largest city by area in the contiguous United States.
The subject property consists of a 11,016 square foot car wash with ample parking on a 1.74-acre parcel. It is strategically located on Beach Boulevard, a main retail corridor, generating a traffic count of 48,000 vehicles per day.
The brand new 20-Year lease has 10 percent rent increases every five years including the four, Five Year options periods.
The property benefits from the 158,149 residents and an average household income $107,095 within a 5-mile radius with an expected five percent population growth by 2025.
There are numerous National and Regional retailers in the immediate area including Publix, Target, Big Lots, McDonald’s, Goodyear, Taco Bell, Chickfil- A, Circle K, Speedway, and Wawa among many others.
Prime Car Wash is a flex service car wash concept offering all the quality services of a traditional full-service car wash along with the speed and services of an exterior only car wash. In addition to car wash services, Prime Car Wash offers express detail services for the outside as well as the inside of vehicles. The company is expanding in both Florida and Indiana.

  • 20-Year Absolute NNN Sale-Leaseback with 10% Increases Every Five Years
  • Attractive Rent Growth | 10% Increases throughout Base Term and Options
  • Expanding Population| Population Projected to Grow 5% by 2025 in a 5-Mile Radius
  • Population of 158,149 within Five-Mile Radius
  • Low Retail Vacancy Rate of 3.4% within One-Mile Radius (1.3M SF of Retail)
  • Above Average Household Income Exceeding $107,095 in a Five-Mile Radius
  • Highly Trafficked Retail Corridor | 48,000 Vehicles Per Day
  • Florida is a “No Income Tax State”
  • City: Jacksonville
  • State/county: Florida
  • Zip/Postal Code: 32250
  • Country: United States

Detail

  • Price: $6,050,420
  • Year Built: 2020

Additional details

  • CAP RATE: 5.95%
  • NOI: $360,000

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