1718 Verdad St Green Cove Springs, FL 32043
- Specialty properties
- 3,520 SF
- 1.07 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 1718 Verdad St
- Year built
- 2024
- Lot size
- 1.07 lot acres
- Property size
- 3,520 SF
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a fee-simple ownership of a LUV Car Wash located at 1718 Verdad St, Green Cove Springs, Florida, 32043. The property boasts a substantial 3,520 square foot building situated on a 1.07-acre lot. Currently operating at 100% occupancy, the car wash is secured by a 20-year absolute triple-net (NNN) lease with a prominent corporate guarantor, LUV Car Wash Holdings, LLC (75+ units). The lease features a 2% annual rent increase, ensuring consistent income growth. The current annual net operating income (NOI) stands at $286,875, translating to a compelling 6.75% capitalization rate. The property's construction date is 2024, and the lease includes four, five-year renewal options, potentially extending the lease term to 40 years. This offering provides significant tax advantages through accelerated and bonus depreciation. The asking price is $4,250,000, representing a price per square foot of $1,207.39. This is a rare opportunity to acquire a high-performing, long-term, and secure car wash investment in a desirable location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Green Cove Springs
- County
- Clay
- State
- Florida
- Longitude
- -81.7349
- Latitude
- 29.9457
