Listed by SURMOUNT, Marcus & Millichap - Orange County
$6,500,000
Flagship Car Wash
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 4,200
Cap Rate 6.35%
NOI $412,750
Tenancy Single
Lease Type NNN
Year Built 2026
Acreage 0.740
Tenant Credit Corporate Guarantee
Ground Lease No
About This Property
Marketing description
Surmount is pleased to present the exclusive listing for a Flagship Car Wash located at 1501 Sunrise Highway, Bay Shore, NY 11706. The site consists of roughly 4,200 rentable square feet of building space on an estimated .74-acre parcel of land. Cobblestone Auto Spa is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $412,750 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.
- Affluent & Dense Demographic Profile | Located in an affluent and densely populated trade area, the site benefits from exceptional surrounding demographics with more than 115,800 residents within a 3-mile radius and over 280,700 residents within a 5-mile radius. The immediate area also features strong household incomes, with average household income exceeding $112,100 within 1 mile and $142,600 within 3 miles.
- Prime Sunrise Highway Frontage | Prime Long Island real estate positioned directly off Sunrise Highway, offering outstanding visibility and accessibility along one of the area’s primary retail and commuter corridors. The property benefits from exposure to more than 88,000 vehicles per day, providing strong traffic counts and excellent brand exposure in a highly trafficked location.
Listing Contacts
Listed by SURMOUNT, Marcus & Millichap - Orange County
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$412,750.00
$34,395.83/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
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