510 State Rd 434 Winter Springs, FL 32708-2486

Property Details for 510 State Rd 434

Year built

2019

Construction

CONCRETE BLOCKS

Lot size

1.16 lot acres

Property size

6,138 SF

Property type

Distribution centers

APN

34-20-30-5AV-2500-00A0

APU

3420305AV250000A0

Description

This exceptional investment opportunity presents a fee-simple, Class A, 6,318 square-foot car wash located at 510 W State Rd 434, Winter Springs, FL 32708. Boasting a prime location with nearly 57,000 vehicles passing daily, this property benefits from exceptional visibility and accessibility. The single-tenant building, constructed in 2019 and renovated in 2025, sits on a 1.16-acre lot and includes 26 parking spaces. Currently operating under a 20-year Absolute NNN lease with a credit-rated corporate guarantor, Bluewave Car Wash (rebranding to El Car Wash within 6-12 months), the property offers a substantial $425,000 NOI and a 6.25% cap rate at the asking price of $6,800,000. The lease includes 2% annual rent bumps and six, 5-year renewal options, ensuring consistent income growth. The tenant, a major player in the Florida car wash market, is expected to expand its site count significantly. This property is situated in a high-traffic area, near major roadways and shopping centers, within a densely populated and affluent community with average household incomes exceeding $105,000 within a 10-minute radius. The property's strong financials, long-term lease, and prime location make it an attractive investment with significant potential for appreciation. The investment is eligible for bonus depreciation.