Mammoth Car
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For Sale
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9750 North Kendall Drive, Miami, FL 33176
Operating car wash property subject to a long-term NNN lease with scheduled annual increases.
Property Size4,592 SF
Lot Size0.58 Acres
Price / SF$1,398
Days on Market6
Property Features for 9750 North Kendall Drive
General Information
Standard status
Active
Size
4,592 SF
Lot size
0.58 Acres
Property subtype
Retail
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 12 at 4:54AM
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 SURMOUNT
Investment Insights
Based on property information with market context.
Mammoth Car Wash is an automotive property comprising approximately 4,592 rentable square feet on an estimated 0.58-acre parcel. The asset is located at 9750 North Kendall Drive in Miami, Florida, and is subject to a 20-year Triple Net lease that began 7/3/2024.
The lease includes scheduled increases of 2.00% annually, providing a defined contractual escalation structure. The property combines a specialized car wash operation with a long-term NNN tenancy at a Miami commercial address.
The lease includes scheduled increases of 2.00% annually, providing a defined contractual escalation structure. The property combines a specialized car wash operation with a long-term NNN tenancy at a Miami commercial address.
Key Highlights
- 4,592 rentable square feet of building space
- Estimated 0.58‑acre parcel
- 20‑year Triple Net (NNN) lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$216,974
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,339,480
$4.3M
Cap Rate 7%
$3,099,629
$3.1M
Cap Rate 9%
$2,410,822
$2.4M
Market Conditions
NOI Build-Up for 4,592 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$293.7K $63.96/SF
− Vacancy
−$4.4K −$0.96/SF
EGI
$289.3K $63.00/SF
− OpEx
−$72.3K −$15.75/SF
NOI
$217.0K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,339,480
Cap Rate 7%
$3,099,629
Cap Rate 9%
$2,410,822
Alternative Uses
Best Use
Specialty Retail
$3.10M
$2.71M – $3.62M
NOI $216,974 @ 7.0% cap · market cap 3.38%
Second Best
Retail
$2.14M
$1.87M – $2.50M
NOI $149,817 @ 7.0% cap · market cap 2.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
958
Businesses Nearby
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Business Placement
Demographics for 33176, FL
52,370
Population
20,309
Households
2.6
Avg Household Size
44
Median Age
43%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
4,328
Density / Sq Mi
$80,437
Median Household Income
$45,040
Median Earnings
$1,666
Median Rent
$568,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Operating car wash property subject to a long-term NNN lease with scheduled annual increases.
Where is this car wash located?
The property is located at 9750 North Kendall Drive Miami, FL.
What is the asking price?
The asking price for this property is $6,421,658.
What are key features of this property?
This property features: 4,592 rentable square feet of building space; Estimated 0.58‑acre parcel; 20‑year Triple Net (NNN) lease
