Mister Car Wash

852 Lee Road, Orlando, FL 32810

$4,100,000

Cap Rate 6.25%

$4,275,000

Cap Rate 5.99%

DOM: 126 Updated: 05.07.24 Posted: 11.21.23 Status: Sold 03.26.24

Summary

Price $4,100,000 $4,275,000	Built/Renov 2019	Tenant Mister Car Wash
Cap Rate 6.25% 5.99%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,387	Lease Start 04-04-2019	#Units 436
Price/SF $761.09 $793.58	Expiration 04-30-2039	Tenant Type Automotive
NOI $256,210	R. Term 13.11	Ownership Fee Simple
Rent/SF $47.56	Increases 1.5%/1/yrs	Pop 5Mi 284,730
Lot/AC 0.91	Options 4/5yrs/1.5%	AHHI 5Mi $102,953

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 situated with excellent access and visibility along Lee Road (36,500 VPD), just a half mile from the on-ramp to Interstate 4 (178,500 VPD) which runs from Tampa to Orlando. It is adjacent to Firestone Complete Auto Care and Katerina Extended Stay (140 Rooms), and is across Lee Road from a 7-Eleven and Motel 6 (121 Rooms). The property is also just feet from the...

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Key Features

Build to suit
Freeway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
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 Orlando, Florida Zip Code 32810 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:436
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 430 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 :	8,126	89,186	290,560
2023 Total Population :	8,277	88,036	284,730
2023 Employed Civilian Pop :	4,904	50,886	159,243
2023 Total Businesses :	792	9,314	25,271
2023 Average Household Income :	$ 74,612	$ 103,053	$ 102,953
2023 Total Consumer Spending :	$ 219 M	$ 3543 M	$ 10975 M
2023 Median Age :	41	39	39
2023 Total Households :	3,387	39,607	122,943
2023 Pop Age 25+: Bachelor's Degree :	1,284	16,314	54,481
2023 Average Home Value :	$ 297,870	$ 491,023	$ 457,857

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lee Rd	Adanson St	2012	44,500	0.09 mi
Lee Road	Lee Rd	2021	39,000	0.11 mi
Lee Rd	Diplomat Cir	2009	39,500	0.30 mi
	Lee Rd	2022	12,500	0.34 mi
	Lee Rd	2022	10,500	0.37 mi
I-4 WB	Lee Rd	2021	11,000	0.37 mi
I 4	Lee Rd	2021	11,000	0.38 mi
I- 4	I-4 Off Ramp W	2012	149,000	0.47 mi
	Lee Rd	2022	13,000	0.48 mi
N Wymore Rd	Beverly Ave	2012	6,097	0.54 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
26473 Views
79 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
25789 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
26658 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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