Old Anderson Snow RdSpring Hill, FL 34609
Anderson Snow Express Car Wash & Full Service
Asset ClassRetail
ABSOLUTE NNN LEASE | BONUS DEPRECIATION | 7% CAP RATE | FUTURE DEVELOPMENT OPPORTUNITY
Investment Highlights
- Eligible for Bonus and Accelerated Depreciation: Car Washes and Quick-Lube Centers are eligible for Bonus and Accelerated Depreciation. Please consult a CPA for more information.
- Absolute NNN Lease: The tenant is responsible for all property expenses including taxes, insurance, and repairs/maintenance, making this a completely passive investment.
- Experienced Operator: Current tenant began operations in 2005 and has been running a successful business at this location for roughly 20 years.
- Flexible Lease: Tenant is willing to extend the lease term (current operator is 47 years old and runs his only business at this location). Buyer will have the option of extending the lease term or taking over operations on 1/31/2027.
- High-Yield and Below Replacement Cost: This asset is being offered at a 7.00% CAP Rate, and is priced well below replacement cost.
- Large Lot: Subject property sits on 1.20 AC
- Limited Competition: The nearest car wash located to the subject property is over 2 miles away.
- Growing Market: Hernando County, Florida, is experiencing significant growth in both population and economic sectors. As of July 1, 2023, Hernando County’s population was estimated at 212,807, reflecting a 9.4% increase since the 2020 Census count of 194,515 . Projections indicate the population will reach approximately 224,551 by 2025, marking a 3% annual growth rate
- High Traffic Counts: Wedged between Anderson Snow Rd and Spring Hill Drive, these two streets see over 38,000 PVD.
- Retail Synergy: This car wash is strategically located across from a Walmart Neighborhood Market and situated within the same center as Walgreens. Directly across Anderson Snow Road, you’ll find a brand-new AutoZone, Taco Bell, and Zaxby’s. Additional national retailers—including Publix, 7-Eleven, and Wendy’s—are located just across Spring Hill Drive, enhancing the site’s Absolute NNN retail synergy and traffic draw.
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Old Anderson Snow RdSpring Hill, FL 34609
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Listing provided by Revere CRE