St Johns, FL - LUV Car Wash

Description:

• There are 17+ years remaining on the initial lease term, with 4 (5-year) options to extend, demonstrating the tenant’s long-term commitment to the site
• 1.50% annual increases throughout the initial term and options, steadily growing NOI and hedging against inflation
• LUV Car Wash is a rapidly growing express car wash operator with approximately 84 locations across its current network and continues to expand its platform through strategic acquisitions, including recent Los Angeles-area acquisitions of Champion Car Wash and La Cienega Car Wash
• The subject property may be eligible for 100% bonus depreciation; please consult with a qualified tax advisor

• LUV Car Wash is located less than 2 miles from the Beachwalk development, which features several new construction housing projects, including The Cove with 94 single-family homes, Atlantica Isles with 134 single-family homes, Elysian with 348 units, and more, providing a direct consumer base from which to draw
• LUV Car Wash is joining the robust Grand Cypress community development, a newly constructed mixed-use development located at the signalized hard corner of Dixie Highway and Race Track Road, which averages over 40,000 VPD
• The asset is located just 2 miles from Durbin Pavilion, a major shopping destination anchored by Walmart Supercenter, The Home Depot, and Cinemark, with additional national tenants including Ulta Beauty, Five Below, Petco, and more
• The subject property is ideally located in a dense retail corridor with nearby national and credit tenants including Publix, Lowe’s Home Improvement, Wawa, Aldi, LBJ’s, Starbucks, and more
• The subject property is surrounded by high-performing national tenants according to CenterCheck, including Five Below, Dollar Tree, Petco, and ALDI, further driving consumer traffic to the immediate trade area

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Listing ID: a28TP0000032TAfYAM