B+E, the brokerage and technology platform for net lease real estate, has announced the sale of the Johnny Clean Car Wash located at 7147 Merrill Road, Jacksonville, FL for $6,786,325. B+E represented the buyer in the transaction.
The Johnny Clean Car Wash is the seventh car wash property that B+E has sold in the past five months. The seven properties are located in four different states and collectively sold for more than $35 million. Each property was sold individually, not as a portfolio.
“Demand exploded for newly constructed express car washes with triple-net leases in 2021,” said Jim Ceresnak, associate director at B+E. “New investors have been flocking to this asset type as they learn more about the evolving car washing business, which now focuses heavily on membership-based revenues. There are few net lease alternatives that offer similar revenue stability. I expect demand to only increase for triple-net car washes in the coming year.”
B+E currently has two car wash listings in New Jersey and one in Georgia with asking prices that total more than $20 million.