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Camel Premium Express Car Wash
520 West Granada Boulevard, Ormond Beach, FL 32174
$4,415,000
Cap Rate 6.00%
Summary
| Price $4,415,000 | Built/Renov 2021 | Tenant Camel Premium Express Car Wash |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
4,120
| Lease Start
12-31-2021
| #Units
98
|
| Price/SF $1,071.60 | Expiration
12-31-2041
| Tenant Type Automotive |
| NOI $264,768 | R. Term 18.0 | Ownership Fee Simple |
| Rent/SF
$64.26
| Increases 1.5%/1/yrs | Pop 5Mi 98,801 |
| Lot/AC 1.45 | Options 1/5yrs/1.5% | AHHI 5Mi $69,391 |
| | |
Lease Highlights
- Camel Premium Express Car Wash has 18+ years remaining on their current lease with 1 (5-year) option to extend
- The lease features annual rental increases of 1.5%
- Absolute NNN | Zero landlord responsibilities
- Very healthy EBITDAR to rent coverage
- Corporate guaranteed lease (98 locations with 120 by the end of 2023)
Location Description
The subject property is strategically positioned with ample visibility and access to West Granada Boulevard, a highly trafficked east-west artery that sees in excess of 32,000 vehicles passing by daily. It is also part of the Granada Pointe retail development, a new construction project that features a Wawa gas station, Culver’s drive-thru, proposed grocery store, and proposed multi-tenant...
...Features
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Build to suit
-
Strategically located
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Top 100 MSA
-
Business growth area
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New development zone
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Income tax free state
-
Long 15+ yr lease
-
Absolute NNN
-
Annual rent increases
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Corporate Guarantee
...
Maps
Tenant
- Tenant: Camel Premium Express Car Wash
- Guarantor:Corporate
- Company:Express Wash Operations, LLC
- # Units:98
- Stock:Private
About Tenant
Camel Premium Express Car Wash is a growing chain of eco-friendly express car washes offersing express car wash services as well as bug prep, underbody rinses, tire shine, wax and shine, rain...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 6,085 | 50,748 | 104,753 |
| 2023 Total Population : | 6,279 | 50,947 | 102,721 |
| 2023 Employed Civilian Pop : | 3,002 | 23,621 | 47,669 |
| 2023 Total Businesses : | 765 | 3,101 | 5,837 |
| 2023 Average Household Income : | $ 66,786 | $ 77,438 | $ 77,118 |
| 2023 Total Consumer Spending : | $ 166 M | $ 1579 M | $ 3143 M |
| 2023 Median Age : | 51 | 53 | 50 |
| 2023 Total Households : | 2,842 | 23,396 | 46,726 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,095 | 7,906 | 15,504 |
| 2023 Average Home Value : | $ 284,573 | $ 291,116 | $ 289,995 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Granada Boulevard | Bennett Ln | 2021 | 31,000 | 0.09 mi |
| Tomoka Rd | Kingsbridge Crossing Dr | 2008 | 32,000 | 0.26 mi |
| South Orchard Street | Hammock Ln | 2021 | 3,200 | 0.42 mi |
| S Yonge St | Corbin Ave | 2008 | 23,500 | 0.57 mi |
| Wilmette Avenue | N Orchard St | 2021 | 5,800 | 0.67 mi |
| Division Avenue | Coolidge Ave | 2021 | 3,400 | 0.68 mi |
| South Yonge Street | Mound Ave | 2021 | 23,000 | 0.70 mi |
| N Nova Rd | Sterthaus Dr | 2008 | 24,500 | 0.73 mi |
| Wilmette Ave | Willow Pond | 2003 | 7,250 | 0.74 mi |
| W Granada Blvd | S Ridgewood Ave | 2003 | 32,000 | 0.75 mi |
