Address: 4979 E Silver Springs Blvd, Ocala, Florida, United States 34470
Type: Net Leased Car Wash
Cap Rate: 7.00%
Lease Type: Triple Net (NNN)
Annual Rent: $310,000
Net Operating Income: $310,000
Lease Term Remaining: 20 Years
Rental Increases: 1.50% Annually
Options: Four (4), Five (5) Year Option Periods
Year Built: 2019
Rentable Sq/Ft: 4,320 SF
Rent Sq/Ft: $71.76
Price Sq/Ft: $1025
Lot Size: 1.05 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Caliber Car Wash located at 4979 E Silver Springs Blvd, Ocala, FL. The property consists of 4,320 square feet of building space and is situated on approximately 1.05 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the close of escrow. The lease will call for 1.50% rental increases annually that will continue through the base term and into the four, five-year tenant renewal options. The lease will carry a personal guaranty for the first five years of the lease which then converts to a corporate guaranty from Caliber Car Wash. Caliber Car Wash currently is in the process of developing 12 car washes across the southeastern United States and has significant plans for expansion.
This Caliber Car Wash property is located at 4979 East Silver Springs Blvd. in Ocala, Florida. Ocala is a city in and the county seat of Marion County, which is part of the northern region of the state.
This Caliber Car Wash is strategically located on an easily accessible and visible shopping center outparcel. The subject property is surrounded by many major national tenants including Walmart, Lowe’s, Aldi, Pep Boys, Bealls, Arby’s, Burger King, Marathon Gas, Shell, as well as many others. Accommodations in the immediate area include Holiday Inn Express & Suites, Scottish Inn and Rodeway Inn. This subject property benefits from being located less than five miles from Ocala Regional Medical Center, a 270-bed facility located in the heart of Ocala. This Caliber Car Wash property is also in close proximity to several academic institutions. Most notable is the College of Central Florida Ocala Campus, which is located less than eight miles from the subject property and boasts a total enrollment exceeding 18,800 students.
The subject property has approximately 28,295 individuals residing within a three-mile radius and 68,409 individuals within a five-mile radius. This Caliber Car Wash is situated on East Silver Springs Boulevard, which experiences an average daily traffic count of 26,200 vehicles. East Silver Springs Boulevard intersects with NE 55th Avenue, which brings an additional 14,300 vehicles per day to the immediate area.
Known as a strong manufacturing base and for its equine industry, the Ocala metro is able to attract global companies. A lower cost of doing business and strategic location in central Florida are strong motivators for businesses that establish a footprint here. The metro comprises all of Marion County and Jacksonville, Orlando and Tampa are all within a two-hour drive. Residents age 65 and older account for 28 percent of the population, contributing to a large healthcare sector. Nearby Ocala is Silver Springs, a national landmark and natural theme park on 350 acres. The site is home to one of the largest artesian spring formations in the world, and Silver Springs Nature Theme Park is one of the earliest tourist attractions in the state. Ocala is also home to Ocala National Forest, the second largest national forest in the state and the Florida Trail which cuts through the forest. Due to the region’s growth over the years, Ocala’s downtown has recently undergone several substantial revitalization projects.
Broker of Record: Ryan Nee – License # BK3154667