Listed by Results Real Estate Partners
$350,000
ABSOLUTE NNN Car Wash Investment Opportunity
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 1,676
Net Rentable (SqFt) 1,676
Cap Rate 7.71%
NOI $27,000
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 10.3
Lease Expiration 05/31/2033
Remaining Term 7
Rent Bumps Yes
Price per SqFt $209
Broker Co-Op Yes
Acreage 0.300
Zoning Commercial
Lease Commencement 02/01/2023
Occupancy Date 02/01/2023
Ground Lease No
Entry Level ABSOLUTE NNN investment in the path of development
Marketing description
1,676 SF Block Self Service Car Wash Building
4 Enclosed Bays, 1 Exterior Bay
1/3 of an Acre Zoned Commercial (Corner Lot of Bay & SR 46)
Located behind the Sanford International Airport
In the Path of Future Residential Development (Sanford Heights)
Over 1,800 New Homes Being Developed in the Area
New Roof, Paint, and Electrical Service in 2020
New 10 Year ABSOLUTE NNN Lease (Start Date 2/1/2023)
Tenant will cover all expenses and all equipment.
Year 1 NOI is $27,000 with over $254,485 in base rent payments over 10 years with CPI increases and 2 guarantors.
Potential Owner Financing (see broker for details)
For Sale: $350,000 (7.7% Cap Rate)
Listing Contacts
Listed by Results Real Estate Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$27,000.00
$2,250.00/mo
Valuation Metrics
0
DSCR
7.71%
Cap Rate
7.71%
ROI
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