399 Fl-436Altamonte Springs, FL 32714

Property Details for 399 Fl-436

Year built

2023

Lot size

0.88 AC

Property size (Sq ft)

1,440 SF

Property type

Retail properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving El Car Wash located at 399 FL-436, Altamonte Springs, Florida, 32714. The property boasts a substantial 1,440 square foot building situated on a 0.88-acre lot. Currently operating under a 20-year triple-net (NNN) lease with a corporate guarantee, this asset offers significant long-term cash flow security. The annual net operating income (NOI) is $425,000, representing a compelling 6.25% capitalization rate. The lease features built-in annual rent increases of 2%, providing a hedge against inflation. Built in 2023, this car wash benefits from a strong location and the growth potential of the El Car Wash brand, which plans to expand to over 60 locations in Florida and beyond. The asking price is $6,800,000, translating to a price per square foot of $4,722.22. This is a rare opportunity to acquire a high-performing, low-maintenance commercial property in a prime location within a rapidly growing market. The property's strong financials, long-term lease, and built-in rent escalations make it an ideal addition to any investment portfolio.

Location Insight

City

Altamonte Springs

County

Seminole

State

Florida

Latitude

28.6624

Longitude

-81.3967

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