Justin Landau & Geoff Karas Of El Car Wash Acquire Five Wash City Locations In Florida
1860 Semoran Boulevard
Building Size
—
Asset Type
Retail
Closing
Apr 23, 2025
About this deal
AI
The transaction involves the sale of five retail locations situated at 1860 Semoran Boulevard, 11674 University Boulevard, 4575 South Semoran Boulevard, 2699 Cassel Creek Boulevard, and 7651 University Boulevard, located within the Apopka, Orlando, Casselberry, and Winter Park markets. The asset type is labeled as retail, signifying its function in the commercial space.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Buyer: Justin Landau & Geoff Karas - El Car Wash
- Seller: Bill Merckel - Wash City Car Wash
- Date: 04/23/2025
El Car Wash, represented by Justin Landau and Geoff Karas, has significantly expanded its presence in Central Florida through this acquisition. The company aims to increase its locations to over 90 by the end of 2025 and will integrate existing Wash City members into its statewide program. Bill Merckel has facilitated this deal as the representative of Wash City Car Wash, marking a pivotal moment for both companies in the growing car wash industry across Florida and Michigan.
On the Map
Retail
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Players
Apopka Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93