Lake Wales, FL - Caliber Car Wash

Description:

• The tenant, Caliber Car Wash, is an experienced car wash operator with 17 locations in five different states throughout the Southeast
• Caliber Car Wash has recently executed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• Recent investment from an Atlanta-based private equity firm called Eagle Merchant Partners, which focuses on consumer and industrial investments, click HERE to read more
• The lease features 1.25% annual rental increases, generating NOI, hedging against inflation, and increasing cap rate
• This asset qualifies for 100% bonus depreciation within the first year
• 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

• Caliber Car Wash is strategically fronting State Road 60, a primary retail and commuter thoroughfare serving the immediate trade area
• Directly across Walmart Supercenter and near Orange Grove Shopping Center, a 100k+ SF shopping center that includes Tractor Supply Co., Family Dollar, Harbor Freight Tools, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for this site
• Brand new construction with state-of-the art design and features
• More than 27,000 residents and 10,500 employees support the trade area
• Features an average household income of $58,402

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Listing ID: a284o000001MwLrAAK