12101 Narcoossee Rd - Corp El Car Wash | 20-Yr NNN | 70% Pop Growth
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12101 Narcoossee Rd - Corp El Car Wash | 20-Yr NNN | 70% Pop Growth
3,340 SF Specialty Building Offered at $9,638,796 CAD at a 6.25% Cap Rate in Orlando, FL 32832
Investment Highlights
- Corporate guarantee from El Car Wash | The largest and fastest-growing car wash brand in FL with 43+ locations open and another 40+ in the pipeline
- Brand new, state-of-the-art construction with El Car Wash’s latest prototype and a 120-ft tunnel
- Rare, 2% annual rent increases throughout the initial term and options | Avg CAP of 7.59% over the base lease term, assuming purchase at List Price
- Incredible population growth | Pop has grown 70% since 2020 and projected to grow an astonishing 9%+ annually within a 1-mile radius over next 5 yrs
- New, 20-year initial lease term | ±$10.3MM+ in guaranteed income
- Surrounded by numerous developments (see OM for more details)
Executive Summary
PROPERTY HIGHLIGHTS
• Corporate guarantee from El Car Wash | The largest and fastest-growing car wash brand in Florida with 43+ locations open and operating with another 40+ locations in some phase of development across Florida and Michigan | Speak with Agent(s) for details
• Brand new, state-of-the-art construction with El Car Wash’s latest prototype and a 120-ft tunnel
• New, 20-year initial lease term | ±$10.3MM+ in guaranteed income
• Rare, 2% annual rent increases throughout the initial term and options | Avg CAP of 7.59% over the base lease term, assuming purchase at List Price
• Conservative Year-3 EBITDAR projection of $1.75MM | Speak with Agent for details
• Hard corner location with excellent access and visibility to Narcoossee Road which boasts 36,000+ VPD
• Directly across the street from Lake Nova Landing (built in 2016) | 596,000 SF retail power center anchored by Walmart, Sam’s Club, and Lowe’s
• Incredible population growth | Population has grown 70% since 2020 and is projected to grow an astonishing 9%+ annually within a 1-mile radius over the next 5 years
• Surrounded by many new & planned developments along Narcoossee Road including:
• Numerous residential, multi-family, and apartment developments totaling 2,260 dwelling units
• A 25.6-acre planned development that would include a 377-unit apartment community
• Retail tenants such as Raising Cane’s, LongHorn Steakhouse, Olive Garden, Miller’s Ale House, Crumbl, and more developments underway
• Walking distance to:
• Lake Nona High School | 3,929 students
• Valencia College Lake Nona Campus | 6,000+ students
• Shoppes at Nona Place | Bravo Supermarkets-anchored center
• National retail tenants including ALDI, Chick-fil-A, Arby’s, Starbucks, Panda Express, Culver’s, Chili’s, PDQ Chicken, RaceTrac, AutoZone, Dunkin’, Firestone, among others
• A Central Florida Greene Way on-ramp/off-ramp | 82,000 VPD
• Hard corner location with excellent access and visibility to Narcoossee Road which boasts 36,000+ VPD
• Very affluent area | The average household income exceeds $156,000 within a 3-mile radius
• Investment is eligible for Bonus Depreciation | Speak with your accountant to confirm | See chart on page 6 of OM for more info
• Asset is located in an income tax-free state
EL CAR WASH HIGHLIGHTS
• Best-in-Class Unit Economics and Industry Leading Performance | One of the highest AUVs, average EBITDARs, and average subscriptions in the industry | Speak with Agent for details
• #1 Position in Highly Attractive South Florida Market
• Considered a premium player in the rapidly growing express car wash space
• Large Existing Membership Base Leading to Substantial Recurring Revenue and Strong Brand Loyalty
• Irreplaceable Real Estate Portfolio Assembled Over the Last Decade
• Largest and Highest Quality Pipeline of Locations in South Florida
• Track Record of Growth Through Greenfield Development and M&A
• Proven Management Team with Diverse Skillset
• Acquired by Warburg Pincus, a private equity firm with $83B AUM, in July of 2022
• Official car wash of the Miami HEAT & Florida Panthers and is a partner of the Miami Zoo & Baptist Health
Mister Car Wash, Take 5 Express, Caliber Car Wash, Tommy’s Express, Splash, Zips, Autobell, Quick Quack, True Blue, Driven Brands, Wash Depot, White Water, Superstar, Super Star, Mammoth, Bluewave, LUX, LUV
• Corporate guarantee from El Car Wash | The largest and fastest-growing car wash brand in Florida with 43+ locations open and operating with another 40+ locations in some phase of development across Florida and Michigan | Speak with Agent(s) for details
• Brand new, state-of-the-art construction with El Car Wash’s latest prototype and a 120-ft tunnel
• New, 20-year initial lease term | ±$10.3MM+ in guaranteed income
• Rare, 2% annual rent increases throughout the initial term and options | Avg CAP of 7.59% over the base lease term, assuming purchase at List Price
• Conservative Year-3 EBITDAR projection of $1.75MM | Speak with Agent for details
• Hard corner location with excellent access and visibility to Narcoossee Road which boasts 36,000+ VPD
• Directly across the street from Lake Nova Landing (built in 2016) | 596,000 SF retail power center anchored by Walmart, Sam’s Club, and Lowe’s
• Incredible population growth | Population has grown 70% since 2020 and is projected to grow an astonishing 9%+ annually within a 1-mile radius over the next 5 years
• Surrounded by many new & planned developments along Narcoossee Road including:
• Numerous residential, multi-family, and apartment developments totaling 2,260 dwelling units
• A 25.6-acre planned development that would include a 377-unit apartment community
• Retail tenants such as Raising Cane’s, LongHorn Steakhouse, Olive Garden, Miller’s Ale House, Crumbl, and more developments underway
• Walking distance to:
• Lake Nona High School | 3,929 students
• Valencia College Lake Nona Campus | 6,000+ students
• Shoppes at Nona Place | Bravo Supermarkets-anchored center
• National retail tenants including ALDI, Chick-fil-A, Arby’s, Starbucks, Panda Express, Culver’s, Chili’s, PDQ Chicken, RaceTrac, AutoZone, Dunkin’, Firestone, among others
• A Central Florida Greene Way on-ramp/off-ramp | 82,000 VPD
• Hard corner location with excellent access and visibility to Narcoossee Road which boasts 36,000+ VPD
• Very affluent area | The average household income exceeds $156,000 within a 3-mile radius
• Investment is eligible for Bonus Depreciation | Speak with your accountant to confirm | See chart on page 6 of OM for more info
• Asset is located in an income tax-free state
EL CAR WASH HIGHLIGHTS
• Best-in-Class Unit Economics and Industry Leading Performance | One of the highest AUVs, average EBITDARs, and average subscriptions in the industry | Speak with Agent for details
• #1 Position in Highly Attractive South Florida Market
• Considered a premium player in the rapidly growing express car wash space
• Large Existing Membership Base Leading to Substantial Recurring Revenue and Strong Brand Loyalty
• Irreplaceable Real Estate Portfolio Assembled Over the Last Decade
• Largest and Highest Quality Pipeline of Locations in South Florida
• Track Record of Growth Through Greenfield Development and M&A
• Proven Management Team with Diverse Skillset
• Acquired by Warburg Pincus, a private equity firm with $83B AUM, in July of 2022
• Official car wash of the Miami HEAT & Florida Panthers and is a partner of the Miami Zoo & Baptist Health
Mister Car Wash, Take 5 Express, Caliber Car Wash, Tommy’s Express, Splash, Zips, Autobell, Quick Quack, True Blue, Driven Brands, Wash Depot, White Water, Superstar, Super Star, Mammoth, Bluewave, LUX, LUV
Property Facts
1 of 1
PROPERTY TAXES
| Parcel Number | 20-2431-5149-03-001 | Improvements Assessment | $0 CAD |
| Land Assessment | $2,341,697 CAD | Total Assessment | $2,341,697 CAD |
PROPERTY TAXES
Parcel Number
20-2431-5149-03-001
Land Assessment
$2,341,697 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,341,697 CAD
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12101 Narcoossee Rd - Corp El Car Wash | 20-Yr NNN | 70% Pop Growth
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