Mister Car Wash

660 East Burleigh Boulevard, Tavares, FL 32778

$3,750,000

Cap Rate 6.28%

$3,925,000

Cap Rate 6.00%

DOM: 161 Updated: 06.15.24 Posted: 11.21.23 Status: Sold 04.30.24

Summary

Price $3,750,000 $3,925,000	Built/Renov 2019	Tenant Mister Car Wash
Cap Rate 6.28% 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,387	Lease Start 02-08-2019	#Units 476
Price/SF $696.12 $728.61	Expiration 02-28-2039	Tenant Type Automotive
NOI $235,366	R. Term 13.9	Ownership Fee Simple
Rent/SF $43.69	Increases 1.5%/1/yrs	Pop 5Mi 79,210
Lot/AC 1.23	Options 4/5yrs/1.5%	AHHI 5Mi $75,267

Lease Highlights

Mister Car Wash has 15+ years of primary term remaining with 4 (5-year) renewal options
The lease features 1.5% rent increases annually
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease (NYSE: MCW)

Location Description

Mister Car Wash is located with excellent access and visibility along US-441/East Burleigh Boulevard (48,500 VPD), which provides direct access to downtown Orlando less than 30 miles southeast. The site is also 2.5 miles west of US-441/East Burleigh Boulevard’s intersection with South Bay Street (22,700 VPD). The site is located between Walgreens and Strickland Brothers 10 Minute Oil Change,...

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Key Features

Build to suit
Highway location
Hospital close
Top 100 MSA
Income tax free state
Long 15+ yr lease
Absolute NNN
Annual rent increases
Traded and rated company
Corporate Guarantee

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Links

Mister Car Wash Wikipedia Tavares, Florida Zip Code 32778 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Mister Car Wash
Guarantor:Corp T and Rated
Company:Mister Car Wash Holdings, Inc.
# Units:476
Tenant S&P: B
Moody’s: B2
Stock: NYSE: MCW

About Tenant

Mister Car Wash is the nation’s largest car wash brand with over 475 locations across the United States (21 states). The company has come a long way since opening its first location in 1969 in...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,837	31,671	81,973
2023 Total Population :	4,695	30,956	79,210
2023 Employed Civilian Pop :	1,795	13,241	34,537
2023 Total Businesses :	262	1,770	3,424
2023 Average Household Income :	$ 94,350	$ 71,734	$ 75,267
2023 Total Consumer Spending :	$ 184 M	$ 871 M	$ 2266 M
2023 Median Age :	62	55	53
2023 Total Households :	2,223	13,796	34,426
2023 Pop Age 25+: Bachelor's Degree :	999	3,945	10,433
2023 Average Home Value :	$ 259,816	$ 251,477	$ 286,991

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Burleigh Blvd	Douglas Dr	2012	43,045	0.07 mi
Shorewood Dr	Lakecrest Dr	2005	42,000	0.35 mi
N St Clair Abrams Ave	E Burleigh Blvd	2012	4,000	0.39 mi
Lake Eustis Dr	Hibiscus St	2012	5,900	0.47 mi
	David Walker Dr	2022	48,500	0.52 mi
W Burleigh Blvd	Nelson St	2012	43,045	0.57 mi
US 441;FL 19	Mayo Dr	2021	56,500	0.61 mi
Dora Ave	Greenway Ave	2012	4,800	0.70 mi
Dora Ave	Tudor Ln	2012	4,963	0.71 mi
Lake Eustis Drive	Lakeshore Dr	2021	6,200	0.77 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
26553 Views
79 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
25867 Views
76 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
26737 Views
78 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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