Gainesville, FL - Caliber Car Wash

Description:

• The tenant, Caliber Car Wash, is an experienced car wash operator with 40+ 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
• This asset qualifies for 80% bonus depreciation (see pg. 9 for more details)
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor in a state with no state income tax

• The asset is strategically fronting Archer Road, the primary East/West thoroughfare of Gainesville as well as a dense retail corridor
• Surrounding national/credit tenants include Target, Whole Foods, Trader Joe’s, Lowe’s, Sam’s Club, Total Wine, Publix, and much more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for Caliber Car Wash
• Directly off Interstate 75 (68,500 VPD)
• Caliber Car Wash is 2 miles West from the University of Florida (52,000+ students)
• More than 152,000 residents and 97,000 employees support the trade area
• $78,825 average household income