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345 W Duval St - Whistle Express 10,374 SF Specialty Building Offered at $5,120,000 at a 6.15% Cap Rate in Lake City, FL 32055
INVESTMENT HIGHLIGHTS
- Corporate Absolute NNN Lease
- Investment Qualifies for 100% Bonus Depreciation
- Institutionally Backed by Oaktree Capital Management ($200B+ AUM)
- 1.75% Annual Increases
- Whistle Express is the Largest Express Car Wash Operator in the U.S.
- Lake City Population Has Grown 8% Since 2020, Increasing Approx. 2% Annually
EXECUTIVE SUMMARY
The subject property is a Whistle Express Car Wash in Lake City, FL benefiting from over 19,000 cars per day. The property is leased on an Absolute NNN basis with about 13 years remaining, guaranteed by Whistle Express, which recently acquired Take 5 Car Wash to form the nation’s largest express wash operator.
Backed by Oaktree Capital Management (200B+ AUM), the tenant provides strong financial strength and long-term stability. The lease includes 1.75% annual increases and four (4) renewal options, while the investment qualifies for 100% bonus depreciation, resulting in a fully passive and highly tax-advantaged opportunity.
Backed by Oaktree Capital Management (200B+ AUM), the tenant provides strong financial strength and long-term stability. The lease includes 1.75% annual increases and four (4) renewal options, while the investment qualifies for 100% bonus depreciation, resulting in a fully passive and highly tax-advantaged opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $5,120,000 | Building Class | B |
| Price Per SF | $493.54 | Lot Size | 1.26 AC |
| Sale Type | Investment | Building Size | 10,374 SF |
| Cap Rate | 6.15% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2016 |
| Property Subtype | Car Wash | ||
| Zoning | CG | ||
| Price | $5,120,000 |
| Price Per SF | $493.54 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.26 AC |
| Building Size | 10,374 SF |
| No. Stories | 1 |
| Year Built | 2016 |
| Zoning | CG |
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PROPERTY TAXES
| Parcel Number | 00-00-00-12417-000 | Improvements Assessment | $785,054 |
| Land Assessment | $329,310 | Total Assessment | $1,114,364 |
PROPERTY TAXES
Parcel Number
00-00-00-12417-000
Land Assessment
$329,310
Improvements Assessment
$785,054
Total Assessment
$1,114,364
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345 W Duval St - Whistle Express
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