345 W Duval St - Car Washes FOR SALE


Lake City, FL 32055
$5,120,000 USD
305-281-8087
345 W Duval St, Lake City, FL for Sale
$5,120,000 USD
Car Washes - FOR SALE
1/10
null | 6.15% Cap Rate

345 W Duval St
Lake City, FL 32055


HIGHLIGHTS

  • Corporate Absolute NNN Lease
  • 1.75% Annual Increases
  • Investment Qualifies for 100% Bonus Depreciation
  • Whistle Express is the Largest Express Car Wash Operator in the U.S.
  • Institutionally Backed by Oaktree Capital Management ($200B+ AUM)
  • Lake City Population Has Grown 8% Since 2020, Increasing Approx. 2% Annually

OVERVIEW

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 (200B+ AUM), the tenant provides strong financial strength and long-term stability. The lease includes 1.75% annual increases and four (4) renewal options, while the investment qualifies for 100% bonus depreciation, resulting in a fully passive and highly tax-advantaged opportunity.

FOR SALE DETAILS

PRICE

$5,120,000 USD

PRICE/SF

$494 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Whistle Express

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

CG

APN/PARCEL ID

00-00-00-12417-000

ASK ABOUT THIS PROPERTY

Benedict GutierrezBerlin GroupMore Info
305-281-8087

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Benedict GutierrezBerlin GroupMore Info
305-281-8087

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.