Flagship Carwash

155 Saint Patricks Drive, Waldorf, MD 20603

$10,769,231

Cap Rate 6.50%

Views: 219 DOM: 242 Updated: 07.09.24 Posted: 04.24.24 Status: Active

Summary

Price $10,769,231	Built/Renov 2010	Tenant Flagship Carwash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 15,700	Lease Start 07-01-2024	#Units 34
Price/SF $685.94	Expiration 06-30-2044	Tenant Type Automotive
NOI $700,000	R. Term 19.6	Ownership Fee Simple
Rent/SF $44.59	Increases 1.5%/1/yrs	Pop 5Mi 99,252
Lot/AC 2.11	Options 4/5yrs/1.5%	AHHI 5Mi $124,261

Peter Deltondo

Marcus & Millichap

Contact

Lease Highlights

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 St. Patricks Drive, with access to 17,572 vehicles passing by daily. The property is conveniently positioned close to Crain Highway, the area's main thoroughfare. Nearby, national tenants include Target, Kohl's, Macy's, Dick's Sporting Goods, Best Buy, and more. Within a five-mile radius of the site, key community educational institutions such as...

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Key Features

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

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Links

Flagship Carwash Wikipedia Waldorf, Maryland Zip Code 20603 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 :	7,918	72,154	108,498
2023 Total Population :	7,875	71,023	104,782
2023 Employed Civilian Pop :	4,542	37,759	54,549
2023 Total Businesses :	616	2,666	3,245
2023 Average Household Income :	$ 122,396	$ 127,998	$ 136,002
2023 Total Consumer Spending :	$ 324 M	$ 2791 M	$ 4296 M
2023 Median Age :	34	35	36
2023 Total Households :	3,108	25,609	37,275
2023 Pop Age 25+: Bachelor's Degree :	968	9,905	14,681
2023 Average Home Value :	$ 362,260	$ 370,726	$ 396,277

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Western Pky	Saint Patricks Dr	2003	19,750	0.22 mi
Saint Patricks Dr	Smallwood Dr W	2000	13,675	0.22 mi
Saint Patricks Dr	Smallwood Dr W	2003	15,933	0.34 mi
Saint Patricks Drive	Smallwood Dr W	2018	17,703	0.35 mi
Smallwood Drive West	Saint Patricks Dr	2018	17,130	0.36 mi
Western Pkwy	Millbrook Ct	2020	17,443	0.42 mi
Smallwood Dr W	Saint Patricks Dr	2003	16,988	0.45 mi
Saint Patricks Drive		2017	17,862	0.51 mi
Crain Hwy	Smallwood Dr	2000	53,250	0.55 mi
Crain Highway	Crain Hwy	2020	46,112	0.56 mi

Listing Broker

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