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Marcus & Millichap Facilitates $14M Sale Of Net Leased Car Wash In Hialeah & Boynton Beach

Property Image
SOLD
$14,046,667
Jonathan De La Rosa
Eduardo "Eddie" Toledo

Florida

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Retail11,726 SF
Sold 12/29/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Facilitates $14M Sale Of Net Leased Car Wash In Hialeah & Boynton Beach

2851 Okeechobee Road & 7366 West Boynton Beach Boulevard

See Similar Deals
Retail11,726 SF
Sold 12/29/2023
Jonathan De La Rosa
Eduardo "Eddie" Toledo
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,197
Total Square Footage:11,726 SF
Transaction Type:Sale

The net leased car wash located at 2851 Okeechobee Road in Hialeah and 7366 West Boynton Beach Boulevard in Boynton Beach has been sold. The property, owned by El Car Wash, was purchased for a total sale price of $14,046,667.

Summary of transaction details:

  • Property Type: Net Leased Car Wash
  • Transaction Amount: $14,046,667
  • Square Footage: 5,863
  • Price per Square Foot: $2,396
  • Market: Hialeah & Boynton Beach

The buyer's representatives in this transaction were Jonathan De LaRosa and Eduardo Toledo from Marcus & Millichap. They facilitated the deal on behalf of the buyer.

Players

Jonathan De La Rosa
Marcus & Millichap
Jonathan De La Rosa
141 deals$628.7M volume(786) 522-7027
BROKER
Eduardo "Eddie" Toledo
Marcus & Millichap
Eduardo Toledo
70 deals$346.7M volume(786) 522-7047
BROKER
EW
El Car Wash
SELLER

Details

SOLD
IMAGE: Eduardo Toledo & Jonathan De LaRosa DATE: 12/29/2023 ADDRESS: 2851 Okeechobee Road & 7366 West Boynton Beach Boulevard MARKET: Hialeah & Boynton Beach ASSET TYPE: Net Leased Car Wash SELLER: El Car Wash BUYER'S REP: Jonathan De LaRosa (@J_DLR_) & Eduardo Toledo (@EdToledo) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $14,046,667 SF: 5,863 ~ PPSF: $2,396

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$749,155.57

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,904.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,588.37
Annual Debt Service$799,060.41