Listed by SURMOUNT
$5,877,460
Whistle Express
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 6,693
Cap Rate 6.5%
NOI $382,035
Occupancy 100%
Tenancy Single
Brand/Tenant Whistle Express Car Wash
Lease Type NNN
Lease Term 20.1
Lease Expiration 09/30/2042
Remaining Term 16.2
Year Built 2019
Acreage 1.420
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/08/2022
Ground Lease No
Ownership Fee Simple
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a Whistle Express located at 1275 North Military Trail, West Palm Beach, FL 33409. The site consists of roughly 6,693 rentable square feet of building space on an estimated 1.42-acre parcel of land. Whistle Express is subject to a 20-year Triple Net (NNN) lease, which commenced 9/8/2022. The current annual rent is $382,035 and has scheduled increases of 2.00% Annually.
Investment highlights
- Long - Term NNN Lease | Approximately 16+ years remain on the original 20 - year Triple Net (NNN) lease term.
- 100% Bonus Depreciation | The subject property is eligible for 100% bonus depreciation offering significant tax advantages to investors.
- Institutional - Quality Tenant | Whistle Express is a rapidly expanding express car wash operator with a growing footprint.
- Prime South Florida Market | Income Tax - Free State | Located within the West Palm Beach MSA, one of Florida's strongest growth markets. Florida is also an income tax - free state, adding to its appeal.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$382,035.00
$31,836.25/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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