Niceville, FL - Take 5 Car Wash

Description:

• Corporate guaranteed by Driven Brands
• The tenant has 19 years left on their 20-year lease with 4 (5-year) option periods to extend, demonstrating their long-term commitment to the site
• The lease features 2% annual rental increases starting January 2029, steadily growing NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises
• Fee simple ownership of a car wash qualifies for bonus depreciation (see page 5 for details)

• The asset is strategically located along State Highway 20 with clear visibility and access to an average of 42,000 vehicles passing daily
• The property benefits from direct access onto SH-293 (23,500 VPD)
• The 2 major commuter routes make this an ideal, centralized location
• The subject ideally neighbors Bluewater Bay, a 66K+ SF Neighborhood Center anchored by Winn-Dixie
• The nearby tenants include Walgreens, CVS Pharmacy, Dollar General, ACE Hardware, Whataburger, Brothers Kitchen, Gulf Coast Dental, and others

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Listing ID: a288X000007ZzDyQAK