Listed by SURMOUNT, Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County
$6,750,000
Flagship Car Wash
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 6,235
Cap Rate 6.45%
NOI $435,375
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Remaining Term 20
Year Built 1950
Acreage 1.630
Investment Type Sale/Leaseback
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
Retail | 6.45% CAP | 6,235 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Flagship Car Wash located at 233 Easton Road, Horsham, PA 19044. The site consists of roughly 6,235 rentable square feet of building space on an estimated 1.63-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 $435,375 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 Demographics & Affluent Community | The subject property benefits from a dense and highly affluent suburban trade area, with approximately 85,100 residents within a 3-mile radius and over 200,500 residents within a 5-mile radius. The surrounding community boasts average household incomes of approximately $115,000 within a 3-mile radius and $124,600 within a 5-mile radius, supporting strong consumer spending and long-term retail and restaurant demand.
- Strong Academic Presence | The subject property is located in close proximity to several highly regarded public schools, including Hatboro-Horsham High School (~1,300 students), Keith Valley Middle School (~1,000 students), Simmons Elementary School (~750 students), Hallowell Elementary School (~430 students), and Upper Moreland High School, collectively serving thousands of students in the immediate trade area.
Listing Contacts
Listed by SURMOUNT, Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$435,375.00
$36,281.25/mo
Valuation Metrics
0
DSCR
6.45%
Cap Rate
6.45%
ROI
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