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2043 FL 60 2,928 SF Specialty Building Offered at $4,709,059 CAD at a 7.10% Cap Rate in Lake Wales, FL 33898
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed Lease: Backed by Caliber Car Wash, one of the fastest-growing express car wash brands in the Southeast with a proven track record
- Built-In Rent Growth: Annual 1.25% increases throughout the base term and options with a current attractive yield of 7.10% Cap on current rent.
- Prime Highway Frontage: Excellent visibility along Highway 60, a major east-west corridor through Central Florida with 25,000 vehicles per day.
- Long-Term Absolute NNN Lease: 20-year corporate-guaranteed lease with zero landlord responsibilities.
- Accelerated Depreciation: 2021 construction qualifies for cost segregation, allowing investors to potentially capture substantial early tax benefits.
- High-Growth Market: Located in Lake Wales, a rapidly developing submarket of Polk County—one of Florida’s fastest-growing counties.
EXECUTIVE SUMMARY
Marcus & Millichap’s TC Retail Group is pleased to present 2043 Highway 60 E in Lake Wales, Florida, an absolute NNN investment backed by a corporate and personal guarantee from Caliber Car Wash.
Built in 2021, the 2,928-square-foot property sits on 0.98 acres and is offered at $3,404,000 with a 7.10% cap rate. The lease has 16 years remaining, with four 5-year renewal options, bringing the total potential lease term to 36 years. It also features annual 1.25% rent increases throughout the base and option periods.
This true passive investment requires no landlord responsibilities, as the tenant covers all taxes, insurance, maintenance, and repairs & replacements.
Positioned along Highway 60, a major Central Florida corridor, the site benefits from strong visibility and proximity to national retailers like Publix, Walmart, Lowe’s, and Walgreens. With modern construction, corporate credit, and long-term lease stability, this asset offers dependable income in a high-growth Florida market.
Built in 2021, the 2,928-square-foot property sits on 0.98 acres and is offered at $3,404,000 with a 7.10% cap rate. The lease has 16 years remaining, with four 5-year renewal options, bringing the total potential lease term to 36 years. It also features annual 1.25% rent increases throughout the base and option periods.
This true passive investment requires no landlord responsibilities, as the tenant covers all taxes, insurance, maintenance, and repairs & replacements.
Positioned along Highway 60, a major Central Florida corridor, the site benefits from strong visibility and proximity to national retailers like Publix, Walmart, Lowe’s, and Walgreens. With modern construction, corporate credit, and long-term lease stability, this asset offers dependable income in a high-growth Florida market.
PROPERTY FACTS
| Price | $4,709,059 CAD | Building Class | B |
| Price Per SF | $1,608.29 CAD | Lot Size | 0.98 AC |
| Sale Type | Investment | Building Size | 2,928 SF |
| Cap Rate | 7.10% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2021 |
| Property Subtype | Car Wash | ||
| Zoning | C | ||
| Price | $4,709,059 CAD |
| Price Per SF | $1,608.29 CAD |
| Sale Type | Investment |
| Cap Rate | 7.10% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.98 AC |
| Building Size | 2,928 SF |
| No. Stories | 1 |
| Year Built | 2021 |
| Zoning | C |
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PROPERTY TAXES
| Parcel Number | 28-30-06-000000-024040 | Improvements Assessment | $916,181 CAD |
| Land Assessment | $362,328 CAD | Total Assessment | $1,278,509 CAD |
PROPERTY TAXES
Parcel Number
28-30-06-000000-024040
Land Assessment
$362,328 CAD
Improvements Assessment
$916,181 CAD
Total Assessment
$1,278,509 CAD
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2043 FL 60
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