9901 Coral WayMiami, FL 33165

Property Details for 9901 Coral Way

Year built

2024

Property size (Sq ft)

3,340 SF

Property type

Retail properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a brand-new, state-of-the-art El Car Wash facility located in Miami, Florida. Boasting a 20-year absolute NNN lease with a corporate guarantee from El Car Wash, this property offers exceptional stability and predictable income. The 3,340 square foot facility, built in 2024, features a 120-foot tunnel and is situated on a 34,151 square foot lot, with a land value of $207 per square foot. The lease includes six, 5-year options with a 2% annual rent increase, ensuring consistent growth. The current asking price is $6,800,000, representing a 6.25% cap rate and a substantial NOI of $425,000. This prime location on Coral Way, near Florida International University (FIU), benefits from high visibility and significant traffic volume (38,500 vehicles per day). The surrounding area boasts a dense population exceeding 210,000 residents within a 3-mile radius, with an average household income of approximately $95,000. The property's proximity to FIU, with over 58,000 students, further enhances its appeal. With limited competition within a 2.5-mile radius, this car wash enjoys a strong market position. The property is zoned BU-1A and offers significant tax advantages, qualifying for first-year bonus depreciation of approximately $1,207,680. This is a rare opportunity to acquire a high-performing asset in a rapidly growing market. The property is offered fee simple and is suitable for a 1031 exchange.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.7472

Longitude

-80.356

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