NNN Pro Group is pleased to present the exclusive listing for an El Car Wash located at 399 FL-436 in Altamonte Springs, FL. The site consists of roughly 1,440 rentable square feet of building space on estimated 0.88-acre parcel of land. This El Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The current annual rent is $405,000 and is scheduled to increase by 2% annually throughout the base term and in each of the 6, 5-year renewal options.
About the Investment:
– 20-Year Triple-Net (NNN) Lease: At Closing the Tenant will Execute A Brand New 20-Year Absolute Triple-Net Lease | Lease will Have No Landlord Responsibilities
– Corporate Guarantee: The Lease will be Subject to a Corporate Guarantee by El Car Washes 30+ Units
– Accelerated Depreciation: The Properties Qualify for 15-Year Accelerated Depreciation as well as Bonus Depreciation
