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Car Wash

Flagship Car Wash

155 St Patricks Dr, Waldorf, MD 20603

Listing Price: $10,769,231

Cap Rate
6.50%
Tenant Name
Flagship Car Wash
Guarantor
Corporate Guarantee
Rentable SF
15,700
Lease Type
Absolute Net
Rent Per Square Feet
$44.59

Investment Overview

Marcus & Millichap are pleased to present the exclusive listing for Flagship Carwash, located at 155 St Patricks Dr in Waldorf, MD. The site consists of roughly 15,700 total rentable square feet of building space on an estimated total of 2.11-acres of land. This Flagship Carwash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The annual rent is $700,000 and is scheduled to increase by 1.50% annually throughout the base term and in each of the 4, 5-year renewal options.

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
  • Corporate Guaranty from Flagship HoldCo LLC | 34+ Unit Guaranty
  • Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
  • Dense Retail Corridor | Target, Kohl's, Macy's, Dick's Sporting Goods, Best Buy, Big Lots, BJ's, Red Lobster, Chick-fil-A, Starbucks, H&M, Dollar Tree and Many More
  • Affluent Community | Average Household Income Exceeds $124,261 Within a Five- Mile Radius of Subject Property
  • Spotless Brands was founded in 2019 with the purpose of revolutionizing the car wash industry by building best-in-class brands with leadership positions in premium markets.
  • Strong Traffic Counts | Over 17,500 and 54,600 Vehicles Per Day Along St. Patrick's Drive and Crain Highway

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) MD: 5005538

    Maryland

Financing By

Car Wash

Flagship Car Wash

Listing Price: $10,769,231

Cap Rate
6.50%
Tenant Name
Flagship Car Wash
Guarantor
Corporate Guarantee
Rentable SF
15,700
Lease Type
Absolute Net
Rent Per Square Feet
$44.59

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
  • Corporate Guaranty from Flagship HoldCo LLC | 34+ Unit Guaranty
  • Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
  • Dense Retail Corridor | Target, Kohl's, Macy's, Dick's Sporting Goods, Best Buy, Big Lots, BJ's, Red Lobster, Chick-fil-A, Starbucks, H&M, Dollar Tree and Many More
  • Affluent Community | Average Household Income Exceeds $124,261 Within a Five- Mile Radius of Subject Property
  • Spotless Brands was founded in 2019 with the purpose of revolutionizing the car wash industry by building best-in-class brands with leadership positions in premium markets.
  • Strong Traffic Counts | Over 17,500 and 54,600 Vehicles Per Day Along St. Patrick's Drive and Crain Highway

Investment Overview

Marcus & Millichap are pleased to present the exclusive listing for Flagship Carwash, located at 155 St Patricks Dr in Waldorf, MD. The site consists of roughly 15,700 total rentable square feet of building space on an estimated total of 2.11-acres of land. This Flagship Carwash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The annual rent is $700,000 and is scheduled to increase by 1.50% annually throughout the base term and in each of the 4, 5-year renewal options.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): MD: 5005538

    Maryland

Financing By

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