510 State Road 434Winter Springs, FL 32708

Property Details for 510 State Road 434

Year built

2019

Construction

CONCRETE BLOCKS

Lot size

1.16 AC

Property size (Sq ft)

6,138 SF

Property type

Industrial properties

Property subtype

Distribution centers

APN

34-20-30-5AV-2500-00A0

APU

3420305AV250000A0

Description

This exceptional investment opportunity presents a fee-simple, Class A, 6,318 square-foot car wash located at 510 W State Rd 434, Winter Springs, FL 32708. Boasting a prime location with nearly 57,000 vehicles passing daily, this property benefits from exceptional visibility and accessibility. The single-tenant building, constructed in 2019 and renovated in 2025, sits on a 1.16-acre lot and includes 26 parking spaces. Currently operating under a 20-year Absolute NNN lease with a credit-rated corporate guarantor, Bluewave Car Wash (rebranding to El Car Wash within 6-12 months), the property offers a substantial $425,000 NOI and a 6.25% cap rate at the asking price of $6,800,000. The lease includes 2% annual rent bumps and six, 5-year renewal options, ensuring consistent income growth. The tenant, a major player in the Florida car wash market, is expected to expand its site count significantly. This property is situated in a high-traffic area, near major roadways and shopping centers, within a densely populated and affluent community with average household incomes exceeding $105,000 within a 10-minute radius. The property's strong financials, long-term lease, and prime location make it an attractive investment with significant potential for appreciation. The investment is eligible for bonus depreciation.

• Alternative Use

  Use

  Valuation

  Residential

  $1,195,910

  Hospitality

  $1,095,447

  Educational

  $911,399

  Medical

  $942,744

  Retail

  $1,417,732

Location Insight

City

Winter Springs

County

Seminole

State

Florida

Latitude

28.6987

Longitude

-81.311

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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