Listed by SRS Real Estate Partners Tampa
$6,405,000
LUV Car Wash - Jacksonville (St Johns) FL
Details
APN 023430 0110
Property Type Special Purpose
Sub Type Car Wash
Square Footage 4,183
Cap Rate 6.5%
NOI $416,322
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 21
Lease Expiration 06/30/2044
Remaining Term 18
Rent Bumps Yes
Lease Options 4 (5-Year)
Class A
Year Built 2024
Acreage 1.092
Zoning PUD
Parking Spaces 19 spaces
Parking per 1,000 SqFt 4.54
Investment Type Net Lease
Lease Commencement 06/21/2023
Ground Lease No
Ownership Fee Simple
Absolute NNN | 17+ Yrs Remaining
Marketing description
• There are 17+ years remaining on the initial lease term, with 4 (5-year) options to extend, demonstrating the tenant’s long-term commitment to the site
• 1.50% annual increases throughout the initial term and options, steadily growing NOI and hedging against inflation
• LUV Car Wash is a rapidly growing express car wash operator with approximately 84 locations across its current network and continues to expand its platform through strategic acquisitions, including recent Los Angeles-area acquisitions of Champion Car Wash and La Cienega Car Wash
• The subject property may be eligible for 100% bonus depreciation; please consult with a qualified tax advisor
Investment highlights
- 17+ Years Remaining | Corporate Signature | Options To Extend | Rapidly Growing Tenant | Annual Rental Increases | 100% Bonus Depreciation Eligibility
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax
- Surrounding Housing Developments | The Cove | Atlantica Isles |Elysian | Direct Consumer Base | Apart of Grand Cypress
- Interstate 95 (126,000 VPD) | Fronting Race Track Rd (19,000 VPD) |Excellent Visibility & Accessibility
- Durbin Pavilion | Dense Retail Corridor| High performing Nearby Retailers
- Demographics 5-Mile Trade Area | Six-Figure Incomes
Listing Contacts
Listed by SRS Real Estate Partners Tampa
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$416,322.00
$34,693.50/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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