NNN Pro Group and Marcus & Millichap are pleased to present the exclusive listing for a LUV Car Wash located at 1718 Verdad St in Green Cove Springs, FL. The site consists of roughly 3,520 rentable square feet of building space on estimated 1.07-acre parcel of land. This LUV 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 $362,500 and is scheduled to increase by 2.00% annually throughout the base term and in each of the 4, 5-year renewal options.
About the Investment:
– Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
– Two Percent (2.00%) Annual Rental Increases
– Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
– Full Corporate Guarantee from LUV Car Wash Holdings, LLC (75+ Units)
– Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
