Flagship Car Wash

10765 Wawa Lane, White Plains, MD 20695

$5,900,000

Cap Rate 6.25%

Views: 97 DOM: 272 Updated: 07.09.24 Posted: 02.25.24 Status: Active

Summary

Price $5,900,000	Built/Renov 2023	Tenant Flagship Car Wash
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,367	Lease Start 06-01-2024	#Units 180
Price/SF $1,099.31	Expiration 05-31-2044	Tenant Type Automotive
NOI $368,750	R. Term 19.6	Ownership Fee Simple
Rent/SF $68.71	Increases 1.5%/1/yrs	Pop 5Mi 100,425
Lot/AC 1.12	Options 4/5yrs/1.5%	AHHI 5Mi $123,731

Peter Deltondo

Marcus & Millichap

Contact

Lease Highlights

New 2023 construction
Flagship Car Wash 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 each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Flagship Car Wash is strategically located on Wawa Lane, with access to 17,900 vehicles passing by daily. The property is situated at the intersection of Crain Highway and Billingsley Road, which averages an additional daily traffic count of 49,000 VPD. Moreover, the site benefits from being well-positioned in a dense retail corridor featuring national and local tenants, academic institutions,...

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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 Car Wash Wikipedia White Plains, Maryland Zip Code 20695 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Flagship Car Wash
Guarantor:Corporate
Company:Access Holdings
# Units:180
Stock:Private

About Tenant

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

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,581	61,194	106,996
2023 Total Population :	4,551	58,839	103,233
2023 Employed Civilian Pop :	2,342	30,061	53,346
2023 Total Businesses :	422	2,084	3,421
2023 Average Household Income :	$ 122,469	$ 127,204	$ 132,750
2023 Total Consumer Spending :	$ 154 M	$ 2313 M	$ 4137 M
2023 Median Age :	39	35	37
2023 Total Households :	1,504	21,407	36,745
2023 Pop Age 25+: Bachelor's Degree :	541	7,788	14,253
2023 Average Home Value :	$ 333,598	$ 384,053	$ 394,902

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Billingsley Road	Billingsley Rd	2018	17,715	0.06 mi
Billingsley Rd	Billingsley Rd	2020	15,011	0.13 mi
Billingsley Road		2017	17,874	0.19 mi
Old Washington Rd	Billingsley Rd	2008	10,692	0.25 mi
Billingsley Road	Gateway Blvd	2018	18,112	0.28 mi
Demarr Road	Crain Hwy	2018	3,251	0.40 mi
Crain Hwy	Billingsley Rd	2008	39,163	0.46 mi
Crain Hwy	Charles Crossing Dr	2008	50,103	0.53 mi
Billingsley Rd	University Dr	2020	15,011	0.53 mi
Demarr Rd	Duley Dr	2020	2,723	0.87 mi

Listing Broker

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