Listed by SURMOUNT
$6,221,584
Whistle Express
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 8,466
Cap Rate 6.25%
NOI $388,849
Tenancy Single
Lease Type NNN
Lease Expiration 09/01/2043
Year Built 2019
Acreage 1.090
Tenant Credit Corporate Guarantee
Lease Commencement 08/14/2023
Ground Lease No
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a Whistle Express located at 11380 Bloomingdale Avenue, Riverview, FL 33578. The site consists of roughly 8,466 rentable square feet of building space on an estimated 1.09-acre parcel of land. Whistle Express is subject to a 20-year Triple Net (NNN) lease, which commenced 8/14/2023. The current annual rent is $388,849 and has scheduled increases of 2.00% Annually.
Investment highlights
- Lease Guaranteed By Whistle Express | Largest Car Wash Operator In America | The lease is backed by Whistle Express, the nation’s largest car wash operator, providing investors with security and stability. As a market leader with a rapidly expanding footprint, Whistle Express brings strong creditworthiness and proven operational expertise to the site.
- Bonus Depreciation Opportunity | This property offers 100% bonus depreciation, offering notable tax advantages in the early years of ownership. This form of depreciation enhances after-tax cash flow and adds to overall investment returns, making this property ideal for investors looking for tax treatment on real estate holdings. SURMOUNT is not a tax advisor. Please consult your own tax professional.
- Located in Tax Free State | Florida continues to see strong population growth, in-migration, and economic expansion driven by its business-friendly, no state income tax environment.
- Long Term Lease With 2% Annual Increases | Providing long-term, passive income with built-in rent growth and no landlord expense obligations throughout the lease term.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$388,849.00
$32,404.08/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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