Palm Bay, FL - Caliber Car Wash

5050 Minton Rd, Palm Bay, FL

$5,360,000

Price

6.25%

Cap Rate

$335,000

NOI

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Street
Map
Overview
Cap Rate
6.25%
NOI
$335,000
Building Size
3,763 sqft
Lot Area
1.04 acres
Description

• The tenant, Caliber Car Wash, is an experienced car wash operator with 50+ locations in five different states throughout the Southeast as well as multiple future locations currently under development
• Caliber Car Wash signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 1.50% annual rental increases, growing NOI, hedging against inflation, and increasing return on the investment

• The subject property is strategically fronting Minton Rd averaging 44,300 VPD
• Less than a mile off I-95 (80,000 VPD), allowing users to benefit from direct on/off ramp access to the site
• Located less than half a mile from Hammock Landing and Palm Crossings
• Hammock Landing is power center that features big box tenants such as Kohl’s, Target, Ross, Michaels, Marshalls, HomeGoods, and more
• Other national tenants in Hammock Landing include Culver’s, Panera Bread, LongHorn Steakhouse, and more
• More than 154,000 residents and 56,000 employees support the trade area
• $88,831 average household income within a 1-mile radius

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Listing ID: a28TP00000071fJYAQ
Location
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