9901 Coral Way Miami, FL 33165
- Specialty properties
- 3,340 SF
Current Use by Public Records
- El Car Wash - Coral Way West / Car Wash
Property Details for 9901 Coral Way
- Year built
- 2024
- Property size
- 3,340 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a brand-new, state-of-the-art El Car Wash facility located in Miami, Florida. Boasting a 20-year absolute NNN lease with a corporate guarantee from El Car Wash, this property offers exceptional stability and predictable income. The 3,340 square foot facility, built in 2024, features a 120-foot tunnel and is situated on a 34,151 square foot lot, with a land value of $207 per square foot. The lease includes six, 5-year options with a 2% annual rent increase, ensuring consistent growth. The current asking price is $6,800,000, representing a 6.25% cap rate and a substantial NOI of $425,000. This prime location on Coral Way, near Florida International University (FIU), benefits from high visibility and significant traffic volume (38,500 vehicles per day). The surrounding area boasts a dense population exceeding 210,000 residents within a 3-mile radius, with an average household income of approximately $95,000. The property's proximity to FIU, with over 58,000 students, further enhances its appeal. With limited competition within a 2.5-mile radius, this car wash enjoys a strong market position. The property is zoned BU-1A and offers significant tax advantages, qualifying for first-year bonus depreciation of approximately $1,207,680. This is a rare opportunity to acquire a high-performing asset in a rapidly growing market. The property is offered fee simple and is suitable for a 1031 exchange.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.356
- Latitude
- 25.7472
