www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
29240964
29240965

345 W Duval Street, Lake City, FL 32055

BG
FL BK3317434
Berlin Group
Listed by Berlin Group
$5,120,000
181 days on market
Updated 2 days ago

Whistle Express Car Wash

Details
APN 00-00-00-12417-000
Property Type Special Purpose
Sub Type Car Wash
Square Footage 10,374
Cap Rate 6.15%
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 12/31/2038
Remaining Term 12.5
Rent Bumps Yes
Lease Options Four, Five-Years
Price per SqFt $494
Broker Co-Op Yes
Lot Size (SqFt) 54,842
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2019
Ground Lease No
Ownership Fee Simple

100% Bonus Depreciation | 6.15% CAP | 1.75% Annual Increases

Marketing description

The subject property is a Whistle Express Car Wash in Lake City, FL benefiting from over 19,000 cars per day. The property is leased on an Absolute NNN basis with about 13 years remaining, guaranteed by Whistle Express, which recently acquired Take 5 Car Wash to form the nation’s largest express wash operator. Backed by Oaktree Capital Management (over $200 billion in assets under management), the tenant offers strong financial backing and long-term stability. The lease features 1.75% annual rent increases and four (4) renewal options, and the investment is eligible for accelerated depreciation, resulting in a fully passive and tax-efficient ownership opportunity.

Investment highlights

Single-Tenant Whistle Express Car Wash Opportunity:

  • Corporate Absolute NNN Lease

  • Approx. 13 Years Remaining

  • Zero Landlord Responsibilities

  • 1.75% Annual Increases

  • Four (4), Five-Year Renewal Options

  • Investment Qualifies for 100% Bonus Depreciation

Top-Tier Car Wash Operator:

  • Whistle Express is the Largest Express Car Wash Operator in the U.S.

  • 530+ Locations Nationwide Following Take 5 Car Wash Acquisition

  • Institutionally Backed by Oaktree Capital Management ($200B+ AUM)

Prime Location with Excellent Visibility:

  • Positioned Along W Duval Street with Approx. 19,000 Vehicles Per Day

  • Less Than 60 Minutes to both Gainesville and Jacksonville

  • Located Within Lake City’s Core Commercial Corridor

Growing Trade Area & Demographics:

  • Lake City Population Has Grown 8% Since 2020, Increasing Approx. 2% Annually

  • Close Proximity to Winn-Dixie, CVS, Ollie’s, Bealls, and Other National Retailers

  • Regional Draw from I-75 / I-10 Interchange, One of Florida’s Busiest Logistics Hubs

Florida Income Tax Advantage:

  • No State Income Tax – Ideal for Out-of-State Investors Seeking Higher Net Returns

Icon
Powered by Miami Association Of Realtors
Learn More

Listing Contacts

BG
FL BK3317434
Berlin Group
Listed by Berlin Group

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--

Valuation Metrics

0
DSCR
--
Cap Rate
--
ROI

Map

Zoning

Intelligence Badge
CG CommercialGeneral CommercialCommercial General
View municipality zoning documents
Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 82 uses
View all 82 uses
Last updated Sep 6, 2026 For deeper zoning details, reports are available at Zoneomics

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Benedict Gutierrez
License
BK3317434
Brokerage Phone
(305) 281-8087
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591