12101 Narcoossee Rd Orlando, FL 32832

Property Details for 12101 Narcoossee Rd

Year built

2024

Lot size

0.94 lot acres

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 in Orlando, Florida. Boasting a 20-year absolute NNN lease with a corporate guarantee from El Car Wash, the largest and fastest-growing car wash brand in Florida, this property offers exceptional stability and significant upside potential. The 3,340 square foot facility, built in 2024, features a 120-foot tunnel and sits on a 0.94-acre lot with 22 parking spaces. Located on a hard corner with excellent visibility on Narcoossee Road (36,000+ vehicles per day), the car wash benefits from a prime location directly across from Lake Nova Landing, a 596,000 square foot retail power center anchored by Walmart, Sam's Club, and Lowe's. The area has experienced explosive population growth (70% since 2020), with projections of 9%+ annual growth within a 1-mile radius over the next 5 years. This growth is fueled by numerous new residential and commercial developments, including a planned 377-unit apartment community. The property's proximity to Lake Nona High School, Valencia College Lake Nona Campus, and numerous national retail tenants further enhances its desirability. The lease includes a 6.25% cap rate, a $425,000 NOI, and 2% annual rent increases. The asking price is $6,800,000. The average household income within a 3-mile radius exceeds $156,000. This investment is eligible for bonus depreciation. The property's strong financials, coupled with its exceptional location and tenant, make it an ideal addition to any portfolio. The initial lease term is 20 years, with six 5-year options. The conservative Year-3 EBITDAR projection is $1.75 million.

Location Insight

City

Orlando

County

Orange

State

Florida

Longitude

-81.2443

Latitude

28.3903