Listed by Marcus & Millichap
$5,502,574
Whistle Express Car Wash | Odessa, FL (Tampa MSA)
Details
APN 31-26-18-0110-00000-0020
Property Type Retail, Special Purpose
Sub Type Gas Station, Auto Shop
Square Footage 4,060
Cap Rate 5.75%
NOI $316,398
Tenancy Single
Brand/Tenant Take 5 Oil Change
Lease Type Absolute NNN
Lease Expiration 12/31/2042
Remaining Term 16.5
Lease Options Four, 5-Year
Year Built 2020
Stories 1
Acreage 1.110
Tenant Credit Corporate Guarantee
Ground Lease No
100% Bonus Depreciation | Exploding Market | 54,000 Cars Per Day!
Marketing description
Special Purpose • 4,645 SF • 01/08/2024
Investment highlights
Lease
- 16.5 Years Remaining on Base Term
- Absolute NNN – NO Landlord Responsibilities
- 2% Annual Increases starting January 2029
- Corporate Guarantee
- Four, 5-Year Options
100% Bonus Depreciation
- 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.
Odessa, FL / Exploding Market in Tampa MSA
- The property is located on State Road 54 which sees 54,000 cars per day and directly off of Suncoast Parkway Toll Road which sees 65,900 cars per day!
- Much of Odessa lies in southern Pasco County, one of Florida's fastest-growing counties. Pasco's population is projected to continue expanding significantly through 2045, while Hillsborough County is also expected to add hundreds of thousands of residents over the coming decades.
- Odessa attracts affluent households seeking larger homes, acreage, top-rated schools, and suburban amenities. The area features a high concentration of executive housing, lakefront properties, golf communities, and master-planned developments, supporting strong home values and premium retail demand.
Whistle Express Corporate Guarantee
- Whistle Express has become the largest car wash operator in the U.S., now with over 530 locations across 23 states
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$316,398.00
$26,366.50/mo
Valuation Metrics
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DSCR
5.75%
Cap Rate
5.75%
ROI
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