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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
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
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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