Listed by SURMOUNT, Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County, Marcus & Millichap - Washington, D.C.
$7,000,000
Flagship Carwash
Details
Property Type Retail
Sub Type Auto wash
Square Footage 4,450
Cap Rate 6.25%
NOI $437,500
Occupancy 100%
Tenancy Single
Brand/Tenant Flagship Car Wash
Lease Type NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options 6, 5-Year Options
Year Built 2026
Acreage 1.430
Investment Type Sale/Leaseback
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
Sale Condition Sale for leaseback
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a Flagship Carwash located at 801 Commerce Center Drive, Elkton, MD 21921. The site consists of roughly 4,450 rentable square feet of building space on an estimated 1.43-acre parcel of land. Flagship Carwash is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $437,500 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. Bang Realty 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 Retail Corridor | The property is situated within a thriving retail corridor anchored by a powerful mix of national and regional tenants including Walmart, Staples, Ross, Grocery Outlet, Lion's Food, Sheetz, Chipotle, Wendy's, and numerous additional brands.
- Strong Affluent Demographics | The property benefits from exceptional trade area density, drawing from a robust consumer base of 65,700 residents within a 5-mile radius. Average household incomes of $107,900 and $117,000 within the 3- and 5-mile rings reflect an affluent and established community with strong discretionary spending power.
- Proximity to ChristianaCare Union Hospital | The property is located in close proximity to ChristianaCare Union Hospital, a 103-bed acute care facility and the primary healthcare anchor serving Cecil County and the surrounding region.
- Situated Between Two Major Metropolitan Markets | 801 Commerce Center Drive is strategically positioned along the I-95 corridor in Elkton, Maryland, placing the site at the crossroads between Philadelphia and Baltimore, two of the most economically active metropolitan areas on the East Coast.
Listing Contacts
Listed by SURMOUNT, Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County, Marcus & Millichap - Washington, D.C.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$437,500.00
$36,458.33/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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Property History
Tax History
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