15389 Southern Blvd - El Car Wash | West Palm Beach 4,843 SF Specialty Building Offered at $10,572,809 CAD at a 5.65% Cap Rate in Loxahatchee, FL 33470

Copilot said:
Colliers is proud to present the sale of El Car Wash at 15389 Southern Boulevard in West Palm Beach, Florida, a newly constructed express car wash strategically positioned within Palm Beach County's largest residential growth corridor. The property benefits from exceptional demographics, including a one-mile average household income of $257,714, and is surrounded by the rapidly expanding Westlake and Arden master-planned communities, which are entitled for more than 6,500 homes. This rare combination of affluent households and significant residential growth creates a compelling long-term investment opportunity.
Completed in 2023, the property is leased to El Car Wash on an absolute triple net basis through December 31, 2043, with over 17 years remaining in the primary term and six additional five-year renewal options. The lease features uninterrupted 2% annual rent increases throughout both the initial term and all option periods, is backed by a corporate guaranty, and requires no landlord responsibilities for maintenance, repairs, or capital expenditures. Additionally, fee simple ownership offers investors the potential benefit of 100% bonus depreciation, further enhancing the property's investment appeal.