Listed by SURMOUNT, Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County
$6,950,000
Flagship Car Wash
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 6,000
Cap Rate 6.35%
NOI $441,325
Tenancy Single
Lease Type Absolute NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Class A
Year Built 2005
Acreage 0.990
Investment Type Sale/Leaseback
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
Sale Condition Sale for leaseback
About This Property
Marketing description
Surmount is pleased to present the exclusive listing for a Flagship Car Wash located at 500 Lancaster Avenue, Strafford, PA 19087. The site consists of roughly 6,000 rentable square feet of building space on an estimated .99-acre parcel of land. This Flagship Carwash is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $441,325 and has scheduled increases of 1.50% annually.
Investment highlights
- Bonus Depreciation Opportunity | This property offers 100% bonus depreciation, offering notable tax advantages in the early years of ownership. This form of depreciation enhances after-tax cash flow and adds to overall investment returns, making this property ideal for investors looking for tax treatment on real estate holdings. Surmount and Marcus and Millichap are not a tax advisors. Please consult your own tax professional.
- Flagship Carwash Corporate Guarantee | The lease is guaranteed by Flagship Carwash, a leading and rapidly expanding car wash operator with a dominant presence in the DMV region. The company currently operates 50+ locations and has an additional 40 sites in its development pipeline, further strengthening its footprint with planned expansion into the Northeast through 2027.
- Strong & Affluent Demographics | The property is supported by a dense and established Main Line trade area, with approximately 52,100 residents within a 3-mile radius and 147,400 residents within a 5- mile radius, providing a substantial and stable consumer base. The surrounding community is also highly affluent, with average household incomes of approximately $178,100 within a 3-mile radius and $158,700 within a 5-mile radius, supporting strong consumer spending and long-term retail performance.
- Strong Retail Corridor | The property is situated along a high-traffic Lancaster Avenue corridor featuring a dynamic mix of automotive, grocery, financial, and daily-needs tenants, including a Tesla dealership, Volvo dealership, Volkswagen dealership, Trader Joe’s, Bank of America, and CVS Pharmacy, among others, driving strong consumer traffic and reinforcing the site’s long-term retail viability.
Listing Contacts
Listed by SURMOUNT, Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$441,325.00
$36,777.08/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
