Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Absolute NNN Car Wash Ground Lease Title is generated by Realmo AI

    3430 Southwest Martin Highway, Palm City, FL 34990

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    19-year absolute NNN ground lease with rental increases scheduled every five years.

    Type:Retail
    Property size:
    3,528 SF
    Price / SF:
    $928/SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 4:36 am

    Property Features for 3430 Southwest Martin Highway

    General Information

    Standard status
    Active
    Size
    3,528 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    Raymond Romano
    Raymond Romano

    Listing agent Raymond Romano License #FL 3041785

    Listing office CBRE - Orlando

    Listing date May 28, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Orlando

    HighLights

    • 19‑year absolute NNN Waters Car Wash ground lease (Year built: 2025).
    • Rental increases scheduled every 5 years (10% increase).
    • Tenant: Waters Car Wash; has 48 locations and has been in business for over 60 years.
    • Guarantor: Summit Wash Holdings, parent company backed by New Mountain Capital (formed Summit in 2022).
    • Property anchored by Wawa and Tractor Supply at Palm Pike Crossing, with site performance rankings cited by Placer.ai.
    • Location features access designed for quick stops with established traffic patterns between Palm City, Stuart, I‑95, and the Turnpike.

    Overview

    CBRE’s Net Lease Property Group presents an absolute NNN 19-year Waters Car Wash ground lease with “hands off” management. The lease includes rental increases of 10% every 5 years. Waters Car Wash has 48 locations and has been in operation for more than 60 years.

    The property is located at 3430 Southwest Martin Highway in Palm City, Florida, within Palm Pike Crossing. It is positioned along a major east-west commuter corridor and is described as offering high visibility and easy ingress/egress designed for quick, convenient stops. The center is anchored by Wawa and Tractor Supply, and the regional draw includes traffic moving between Palm City, Stuart, I-95, and the Turnpike. The remarks also cite household incomes exceeding $150K in the surrounding area.

    This offering may be of interest to investors seeking an absolute NNN structure tied to a branded car wash operator. The lease guarantor is Summit Wash Holdings, backed by New Mountain Capital, a multibillion-dollar private equity firm that formed Summit in 2022 and continues to fund expansion. The presentation also highlights Wawa and Tractor Supply as top-performing stores based on Placer.ai information included in the remarks.
    Location Intelligence

    Current Use by Public Records

    Car washes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm City
    County
    Martin
    State
    Florida
    Longitude
    -80.299259
    Latitude
    27.1604014

    Nearby Similar for Sale

    • $1,190,000
      1,600 SF

      Turn-Key Freestanding Office Building

      Move-in-ready office with remodeled interiors, multiple entrances, and on-site parking.
      1100 SW Martin Downs Boulevard, Palm City, FL
      View Details
    • $1,500,000
      7,000 SF

      Palm City Flex/Industrial Condo

      2,566 SF flex/industrial condo in Palm City, Florida.
      2340 SW Poma Dr, Palm City, FL
      View Details

    FAQs

    What type of property is this?
    Car wash - 19-year absolute NNN ground lease with rental increases scheduled every five years.
    Where is this car wash located?
    The property is located at 3430 Southwest Martin Highway Palm City, FL.
    What is the asking price?
    The asking price for this property is $3,275,000.
    What are key features of this property?
    This property features: 19‑year absolute NNN Waters Car Wash ground lease (Year built: 2025).; Rental increases scheduled every 5 years (10% increase).; Tenant: Waters Car Wash; has 48 locations and has been in business for over 60 years.
    (407) 808-1657 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Raymond Romano
    Raymond Romano
    Real Estate License ID: FL 3041785
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3430 Southwest Martin Highway, Palm City, FL 34990
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!