Flagship Carwash

10874 Fairfax Boulevard, Fairfax, VA 22030

$5,923,077

Cap Rate 6.50%

Views: 122 DOM: 242 Updated: 07.09.24 Posted: 04.24.24 Status: Active

Summary

Price $5,923,077	Built/Renov 2023	Tenant Flagship Carwash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,924	Lease Start 07-01-2024	#Units 34
Price/SF $1,202.90	Expiration 06-30-2044	Tenant Type Automotive
NOI $385,000	R. Term 19.6	Ownership Fee Simple
Rent/SF $78.19	Increases 1.5%/1/yrs	Pop 5Mi 256,221
Lot/AC 0.54	Options 4/5yrs/1.5%	AHHI 5Mi $168,160

Peter Deltondo

Marcus & Millichap

Contact

Lease Highlights

Brand-new 2023 construction
Flagship Carwash will be executing a brand-new 20-year lease with 4 (5-year) options to extend at the close of escrow
The lease features 1.5% annual rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Flagship Carwash is strategically located on Fairfax Boulevard, with access to a high daily traffic count of 63,000 vehicles. The property enjoys a prime location within a dense retail corridor, surrounded by well-known national tenants including Walmart, Starbucks, McDonald’s, CVS, Chipotle, Wendy’s, Burger King, and more. Moreover, there are eight shopping centers and malls within a two-mile...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Flagship Carwash Wikipedia Fairfax, Virginia Zip Code 22030 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Flagship Carwash
Guarantor:Corporate
Company:Access Holdings
# Units:34
Stock:Private

About Tenant

Spotless Brands is a car wash company currently partnering with 4 industry-leading brands: Cobblestone Auto Spa, Okie Express Auto Wash, Flagship Carwash, and Ultimate Shine Car Wash. Their car...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	13,631	109,630	264,212
2023 Total Population :	12,512	108,248	263,892
2023 Employed Civilian Pop :	6,967	60,824	145,199
2023 Total Businesses :	1,645	5,058	9,519
2023 Average Household Income :	$ 169,406	$ 185,805	$ 209,588
2023 Total Consumer Spending :	$ 589 M	$ 6045 M	$ 16317 M
2023 Median Age :	38	37	40
2023 Total Households :	4,157	38,759	93,245
2023 Pop Age 25+: Bachelor's Degree :	2,677	24,839	64,059
2023 Average Home Value :	$ 652,804	$ 731,077	$ 780,512

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Fairfax Blvd	Hallman St	2016	36,000	0.05 mi
Fairfax Boulevard	McLean Ave	2021	31,000	0.22 mi
Lee Hwy	Main St	2016	36,000	0.27 mi
Main St	Keith Ave	2016	35,000	0.37 mi
Main Street	Keith Ave	2021	32,000	0.38 mi
Main St	Keith Ave	2016	35,000	0.38 mi
Fairfax Blvd	McLean Ave	2010	39,000	0.39 mi
Orchard St	Hill St	2010	2,900	0.41 mi
Fairfax Blvd	Bevan Dr	2016	36,000	0.42 mi
Lee Highway	Forum Dr	2021	31,000	0.48 mi

Listing Broker

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