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$ 5,120,000
Est. payment | /mo
10,374 SqFt
$ 5,120,000
Est. payment | /mo
10,374 SqFt
Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
Square Footage 10,374 sqft
Price per Sqft $493
MLS Listing ID A11955052
HOA Y/N No
Lot Size 1.259 Acres
Property Sub-Type Special Purpose
Property Description
The subject property is a Whistle Express Car Wash in Lake City, FL benefiting from over 19,000 cars per day. The property is leased on an Absolute NNN basis with about 13 years remaining, guaranteed by Whistle Express, which recently acquired Take 5 Car Wash to form the nation's largest express wash operator.
Backed by Oaktree Capital Management (over $200 billion in assets under management), the tenant offers strong financial backing and long-term stability. The lease features 1.75% annual rent increases and four (4) renewal options, and the investment is eligible for accelerated depreciation, resulting in a fully passive and tax-efficient ownership opportunity.
Backed by Oaktree Capital Management (over $200 billion in assets under management), the tenant offers strong financial backing and long-term stability. The lease features 1.75% annual rent increases and four (4) renewal options, and the investment is eligible for accelerated depreciation, resulting in a fully passive and tax-efficient ownership opportunity.
Location
State FL
County Other
Area 5940 Florida Other
Exterior
Private Pool Yes
Others
Tax ID 00-00-00-12417-000
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11955052
Listed by Berlin Group
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