Tidal Wave Auto Spa

Lake City, Florida

About the Investment
✓ 20-Year Triple-Net (NNN) Lease: At closing the tenant will execute a brand
new 20-year absolute triple-net (NNN) lease. The lease will have no landlord
responsibilities.
✓ Corporate Guaranty: The lease will carry a corporate guaranty from Tidal
Wave Auto Spa.
✓ Attractive Rental Increases: The lease will feature 2.00% annual rental
increases that will continue through the base term and into the five, five-year
tenant renewal option periods.
✓ Potential Tax Benefits: Qualifies for 100% Bonus Depreciation.

Key Details

Price:: $6,000,000
Cap Rate:: 5.50%
Annual Rent:: $330,000
Address:: 3039 W HWY 90, Lake City, Florida 32055
Lease Type:: Triple Net (NNN)

Original Lease Term:: 20 Years
Lease Commencement:: Close of Escrow
Lease Expiration:: 20 Years from Close of Escrow
Lease Term Remaining:: 20 Years
Rental Increases:: 2.00% Annually
Lot Size:: 1.00 Acres
Building Size:: 3,600 SF
Year Built:: 2022
Tenant:: Tidal Wave Auto Spa

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Ryan Sblendorio

rsblendorio@nnnpro.com

License: 10401309105

Jack Winslow

jwinslow@nnnpro.com

License: 10401334977

Broker of record

Ryan Nee

License: BK3154667

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