El Car Wash site in Miami trades for $7.5 million to family office
The sale marks the eighth El Car Wash property brokered by a Marcus & Millichap team in three years as investor demand for the South Florida chain grows.
By The Car Wash News Staff
3 min read
A newly built El Car Wash location in Miami has sold for $7.5 million, the latest in a string of transactions tied to the fast-growing South Florida chain. The property at 6695 W. Flagler St. changed hands to a local family office, according to reporting from Car Wash Business Center.
The deal was brokered by Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap's Miami office, who represented the seller, El Car Wash, and sourced the buyer. The transaction is the eighth El Car Wash property the pair has sold over the past three years, underscoring sustained investor appetite for assets leased to the operator.
Details of the deal
The property totals 5,300 square feet on a 0.67-acre lot and is zoned for neighborhood commercial use, a designation that supports future flexibility for automotive, retail, or service uses. It is currently leased to El Car Wash, a Miami-based chain that operates more than 100 locations across the United States.
The site sits near Miami International Airport, Nu Stadium, and State Roads 826 and 836, placing it in a high-traffic corridor. De La Rosa pointed to a combination of factors driving demand, noting that long-term leases and potential tax advantages from accelerated depreciation make these assets attractive. "These assets continue to attract investors seeking stable cash flow and long-term appreciation," he said.
A pattern of single-tenant car wash sales
The transaction fits a broader trend of single-tenant, net-leased car wash properties trading as investment vehicles. El Car Wash's continued expansion across South Florida has created a reliable supply of leased assets that appeal to buyers looking for stable, long-term income. The Marcus & Millichap team's repeat activity with the brand, now eight sales in three years, reflects how a growing operator footprint can feed a steady pipeline of real estate deals.
Similar sale-leaseback and single-tenant car wash transactions have surfaced in other markets, involving brands including Mister Car Wash and Super Star Car Wash, signaling that institutional and private investors view the category as a durable net-lease play.
Why it matters for operators
For operators, this sale is a reminder that the real estate underneath a wash can be a distinct lever of value separate from day-to-day car wash revenue. Chains like El Car Wash can fund expansion by selling completed sites to investors and leasing them back under long-term agreements, freeing up capital to build new locations while keeping the operation intact.
The appeal to buyers rests on predictable rent from a creditworthy tenant and tax benefits tied to accelerated depreciation. Operators weighing growth should understand how sale-leaseback structures work, what cap rates comparable deals are commanding, and how lease terms affect both their balance sheet and the eventual marketability of a site. Even single-location owners can benefit from knowing what their real estate might fetch, since a well-located, properly zoned parcel can carry value well beyond the wash equipment on it.
Strong investor demand also signals continued confidence in the express wash model's cash flow, which can shape financing availability and property pricing for anyone looking to buy, build, or sell in the coming year.
