Case Study: Virgil Denise, Sublease, Jacksonville, FL

Posted on: January 10, 2022 | Case Study, Investing, Land Owners

Virgil Denise has owned coin-operated car washes in the Jacksonville area for decades. Over ten years ago, he found an opportunity to increase revenue to his businesses without adding extra stress to his workday. He noticed an Ice House on a nearby lot, and looked into adding an Ice House to his car washes.

“I’m always looking for a good sublease,” he explained. “Anytime you can sublease to another business, you’re making money. I just saw one [an Ice House] and called the number.”

A short time later, Ice House America worked with Mr. Denise to install an ice vending machine on the property. The partnership continued and IHA later installed two more machines at two of his other properties.

“It’s good for both of us. The ice machine draws customers to the wash and vice-versa,” he said. “When you marry these machines with another business—a car wash, a restaurant, a retail business—it’s a real good deal.”

Starting a sublease agreement and adding an ice vending machine to a property is easy. Ice House America works with landowners to negotiate a lease agreement that meets their needs. Experts take care of every aspect of the set-up and installation process. This includes securing the machine on the property, setting up utilities and metering, and providing maintenance and upkeep. Owners like Mr. Denise are able to rent space on their property and earn passive income without extra effort.

Earning a flat rate through the sublease agreement on the car wash property, Mr. Denise is happy with the arrangement. “If I had to do it all over again, I’d do the same thing. If you have a good location, I can’t think of anything better.”