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Prime Car Was 20 Year NNN Sale Leaseback

11860 San Jose Blvd, Jacksonville, FL 32223

Listing Price: $6,050,420

Cap Rate
5.95%
Tenant Name
Prime Car Wash
Gross SF
11,016
Guarantor
Corporate Guarantee
Rentable SF
11,016
Price/Gross SF
$549.24
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.68

Investment Overview

Marcus & Millichap is pleased to present for sale this freestanding, singletenant
Prime Car Wash located in Jacksonville, Florida. Jacksonville is the
most populous city in Florida and largest city by area in the contiguous
United States.
The subject property consists of a 11,016 square foot car wash with
ample parking on a 3.76-acre parcel. It is strategically located on San
Jose Boulevard, a main retail corridor, generating a traffic count of 47,500
vehicles per day and is the main drag leading into town and the I-295
beltway. The brand new 20-Year lease will have 10 percent rent increases
every five years including the four, five Year options periods.
The property benefits from the 120,258 residents and an average
household income $99,980 within a five mile radius with an expected six
percent population growth by 2025.
There are numerous National and Regional retailers in the immediate area
including Publix, Winn-Dixie, Walmart, T.J. Maxx, AutoZone, Taco Bell,
McDonalds, Tire Kingdom, Taco Bell, Chase Bank, Starbucks, and Chipotle
among many others.
Prime Car Wash is a flex service car wash concept offering all the quality
services of a traditional full-service car wash along with the speed and
services of an exterior only car wash. In addition to car wash services,
Prime Car Wash offers express detail services for the outside as well as the
inside of vehicles. The company is expanding in both Florida and Indiana.

Investment Highlights

  • 20-Year Absolute NNN Sale-Leaseback with 10% Increases Every Five Years
  • Attractive Rent Growth | 10% Increases throughout Base Term and Options
  • Expanding Population| Population Projected to Grow 6% by 2025 in a 5-Mile Radius
  • Population of 120,258 within Five-Mile Radius
  • Low Retail Vacancy Rate of 3.4% within One-Mile Radius
  • Florida is a No Income Tax State

Exclusively Listed By

Auto Service - Gas-Conv

Prime Car Was 20 Year NNN Sale Leaseback

Listing Price: $6,050,420

Cap Rate
5.95%
Tenant Name
Prime Car Wash
Gross SF
11,016
Guarantor
Corporate Guarantee
Rentable SF
11,016
Price/Gross SF
$549.24
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.68

Investment Highlights

  • 20-Year Absolute NNN Sale-Leaseback with 10% Increases Every Five Years
  • Attractive Rent Growth | 10% Increases throughout Base Term and Options
  • Expanding Population| Population Projected to Grow 6% by 2025 in a 5-Mile Radius
  • Population of 120,258 within Five-Mile Radius
  • Low Retail Vacancy Rate of 3.4% within One-Mile Radius
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this freestanding, singletenant
Prime Car Wash located in Jacksonville, Florida. Jacksonville is the
most populous city in Florida and largest city by area in the contiguous
United States.
The subject property consists of a 11,016 square foot car wash with
ample parking on a 3.76-acre parcel. It is strategically located on San
Jose Boulevard, a main retail corridor, generating a traffic count of 47,500
vehicles per day and is the main drag leading into town and the I-295
beltway. The brand new 20-Year lease will have 10 percent rent increases
every five years including the four, five Year options periods.
The property benefits from the 120,258 residents and an average
household income $99,980 within a five mile radius with an expected six
percent population growth by 2025.
There are numerous National and Regional retailers in the immediate area
including Publix, Winn-Dixie, Walmart, T.J. Maxx, AutoZone, Taco Bell,
McDonalds, Tire Kingdom, Taco Bell, Chase Bank, Starbucks, and Chipotle
among many others.
Prime Car Wash is a flex service car wash concept offering all the quality
services of a traditional full-service car wash along with the speed and
services of an exterior only car wash. In addition to car wash services,
Prime Car Wash offers express detail services for the outside as well as the
inside of vehicles. The company is expanding in both Florida and Indiana.

Exclusively Listed By

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