Marcus & Millichap Brokers $14 Million Sale Of Two El Car Washes

Marcus & Millichap announced the sale of two El Car Washes in South Florida. The assets sold for $14,047,000, and El Car Wash executed 20-year absolute NNN leases.

“The National Car Wash Industry has seen a huge uptick in demand due to the attractive Bonus Depreciation. El Car Wash as a brand dominates the South Florida market,” says Jonathan De La Rosa, senior vice president. “These two sites are in class A locations with strong fundamentals and are high-performing stores.”

De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, represented El Car Wash and procured the buyer, a personal trust.

The car washes are located at 2851 W Okeechobee Road and 7366 Boynton Beach Blvd, two of 40 express car wash locations in Florida, spanning 3,288 square feet. Recognized as the official car wash of the Miami Heat, it features eco-friendly equipment, a wash tunnel, and complimentary services such as high-powered vacuums, compressed air, micro-fiber towels, and mat and glass cleaners.