New El Car Wash | 19 Years NNN | 2% Annual Bumps
Special Purpose | 5.65% CAP | 4,615 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, El Car Wash investment property located in Orlando, Florida. The tenant, El Car Wash, recently signed a 20-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
The El Car Wash is located along E. Colonial Drive / State Highway 50 (58,000 VPD) near its intersection with Lake Pickett Road (13,200 VPD) and in close proximity to State Highway 408 (102,000 VPD), positioning the Property along one of East Orlando’s primary retail and commuter corridors. The Property is situated in the center of a dense regional trade area surrounded by numerous national and credit tenants including Publix, Walmart, Target, T.J. Maxx, Ross, BJ’s, Lowe’s, Walgreens, CVS, AutoZone, Dunkin’, Aldi, Winn-Dixie, Culver’s, Ace Hardware, O’Reilly Auto Parts, Pet Supermarket, Dollar Tree, and Wawa, among many others, further driving consistent consumer traffic to the site. The Property also benefits from its proximity to Waterford Lakes Town Center, a dominant regional retail destination with approximately 14.8 million annual visitors, as well as the University of Central Florida, one of the largest universities in the country with 70,000+ students. The surrounding area is further supported by a strong daytime population base and dense residential growth. The 5-mile trade area is supported by a population of approximately 219,612, average household income of approximately $108,466, and approximately 64,338 employees, providing strong long-term consumer demand for the Property.
Mister Car Wash, Caliber Car Wash, Tommy’s Express, Splash, Zips, Autobell, Quick Quack, True Blue, Driven Brands, Wash Depot, White Water, El Car Wash, Super Star Car Wash
Investment highlights
- 20-Year Initial Lease Term | Corporate Guarantee | 2% Annual Rent Increases | Backed by Warburg Pincus
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strategic Orlando Location | Major Retail and Commuter Corridor
- Proximity to UCF (70,000+ Students) | Near Waterford Lakes Town Center (Top 1% Nationwide / 14.8 M Annual Visitors per Placer.ai)
- Strong Demographics and Daytime Population in 5-Mile Trade Area
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