7106 Davis Hwy Pensacola, FL 32504-6310

Property Details for 7106 Davis Hwy

Year built

2007

Construction

TYPE NOT SPECIFIED

Lot size

0.57 lot acres

Property size

2,472 SF

Zone code

COM

Property type

Auto shops

APN

30-1S-30-2406-000-002

APU

301S302406000002

Description

Exceptional investment opportunity in Pensacola, Florida, featuring a fee-simple, 2,521 square foot car wash on a 0.57-acre lot. This property boasts a 20-year Absolute NNN lease with ZIPS Car Wash, offering 12.7 years remaining. The lease includes a corporate guarantee and attractive 1.5% annual rent escalations, along with six 5-year renewal options at a 7.5% increase each time. The property generates a substantial NOI of $324,736, resulting in a compelling 7.75% cap rate. Built in 2007, this car wash enjoys a prime location on a heavily trafficked road in a thriving retail corridor, less than a mile from I-10. The property benefits from strong demographics and is situated in a tax-free state. This investment is further enhanced by eligibility for accelerated depreciation and 60% bonus depreciation (consult a tax professional). The asking price is $4,190,142. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential. The property is 100% occupied.