$1,166,000 USD
480-252-0226
3720 N Wickham Rd
Melbourne, FL 32935
Suburban Melbourne
HIGHLIGHTS
- 20-Year Absolute Net Sale-Leaseback with Zero Landlord Responsibilities
- Outstanding Rental Increase Structure
- Investment May Qualify for Bonus Depreciation
- he subject property is secured by a brand new 20-year lease that will commence at the close of escrow
- The 20-Year lease will have 2% annual rental increases providing an excellent hedge against inflation
- This investment may qualify for additional tax benefits through the Internal Revenue Code (IRC) section that primarily governs bonus depreciation
OVERVIEW
Surmount is pleased to present the exclusive listing for a College Self Serve Car Wash located at 3720 North Wickham Road, Melbourne, Florida 32935. The site consists of roughly 3022 rentable square feet of building space on an estimated 0.59-acre parcel of land. This College Self Serve Car Wash is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $102,025 and has scheduled increases of 2.00% Annually.
FOR SALE DETAILS
PRICE
$1,166,000 USD
PRICE/SF
$386 USD /SF
CAP RATE
8.75%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
College Self Serve Car Wash
PROPERTY TYPE
Specialty
PROPERTY SUBTYPE
Car Washes
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
B
YEAR BUILT
1998
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.59 AC
LAND SF
25,700 SF
ZONING
C2
APN/PARCEL ID
27-36-01-00-00016.0-0000.00
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480-252-0226
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480-252-0226
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