3061 17Th TerOakland Park, FL 33311

Property Details for 3061 17Th Ter

Year built

2009

Construction

CONCRETE

Lot size

1.00 AC

Property size (Sq ft)

2,689 SF

Zone code

B-1

Property type

Car washes

APN

49-42-28-05-0011

APU

494228050011

Description

This exceptional investment opportunity presents a 4,590 square foot, Class B car wash in Oakland Park, Florida. Currently operating under a 20-year Absolute NNN lease with a credit-rated, corporate-guaranteed tenant, Bluewave Car Wash (to be rebranded to El Car Wash within 6-12 months), this property boasts a 6.25% cap rate and a $425,000 NOI. The lease includes 2% annual rent bumps, six 5-year renewal options, and approximately $10.3 million in guaranteed income over the initial term. Situated on a 1.19-acre lot with 29 parking spaces, the property enjoys excellent visibility and accessibility, located directly across from a Home Depot-anchored shopping center and near I-95. Built in 2009 and renovated in 2025, this single-unit building benefits from a high-traffic location with 56,000+ vehicles per day on Oakland Park Boulevard. The property is also conveniently located near major roadways, schools, and a hospital, ensuring consistent customer traffic. This sale-leaseback transaction offers a secure, long-term investment with significant upside potential. The tenant, El Car Wash, is the largest and fastest-growing car wash brand in Florida, providing further assurance of consistent revenue generation. The property's strong financials, long-term lease, and prime location make it an ideal addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,175,190

  6.5%

  $1,084,790

  7%

  $1,007,305

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,001,849

  Geo Method

  $2,001,849

• Alternative Use

  Use

  Valuation

  Residential

  $915,061

  Hospitality

  $838,191

  Educational

  $697,365

  Medical

  $721,349

  Retail

  $1,084,790

Location Insight

City

Oakland Park

County

Broward

State

Florida

Latitude

26.1652

Longitude

-80.1666

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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