For Sale
$5,622,000

3857 Archer RdGainesville, FL 32608

High-ROI Car Wash, Absolute NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 3,648 square foot Caliber Car Wash located at 3857 SW Archer Rd, Gainesville, FL 32608. The property sits on a 1.82-acre lot and boasts a 20.1-year absolute NNN lease with 1.50% annual rent bumps, commencing September 13, 2023, and expiring September 30, 2043. The lease includes four 5-year renewal options, showcasing the tenant's long-term commitment. With a current NOI of $365,400 and an asking price of $5,622,000, this property offers a compelling 6.50% cap rate. The property benefits from a corporate guaranteed lease, eliminating landlord responsibilities, and qualifies for bonus depreciation. Strategically located on Archer Road, a primary thoroughfare with high traffic volume, and directly off Interstate 75 (90,000 vehicles per day), this car wash enjoys excellent visibility and accessibility. The surrounding area features strong tenant synergy with national retailers such as Target, Whole Foods, Trader Joe's, Lowe's, Sam's Club, Total Wine, and Publix. Furthermore, the property's proximity to the University of Florida (2 miles west) and a robust local population (over 152,000 residents and 97,000 employees within a 5-mile radius) ensures a consistent customer base. The average household income within the 5-mile trade area is $78,825. This is a management-free investment opportunity in a state with no state income tax, offering significant potential for passive income growth. The property's APN is 06801-001-001.

Highlights

  • Brand new 20-year lease with four 5-year renewal options, corporate guaranteed by Caliber Car Wash.
  • 1.5% annual rent increases.
  • 60% bonus depreciation, absolute NNN lease, fee simple ownership, zero landlord responsibilities, located in a state with no state income tax.
  • High-visibility location on Archer Road, a major Gainesville thoroughfare, with strong co-tenancy including Target, Whole Foods, and other national retailers, and direct I-75 access (68,500 VPD).
  • Two miles from the University of Florida (52,000+ students), serving a 5-mile trade area with over 152,000 residents, 97,000 employees, and a $78,825 average household income.

Property Details for 3857 Archer Rd

Property type
Specialty properties, Car washes
Square Feet
3,648 SF
Year Built
2023
Lot Size (sq. ft)
79,279 SF

Location Insight

City
Gainesville
County
Alachua
State
Florida
Latitude
29.6182897
Longitude
-82.3823449
3857 Archer Rd, Gainesville, Florida

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3857 Archer Rd
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