Flagship Car Wash
Fairfax, VA
Key Details
| Price: | $5,923,077 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $385,000 |
| Address: | 10874 Fairfax Boulevard, Fairfax, Virginia 22030 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 1.50% Annually |
| Lot Size: | 0.54 Acres |
| Building Size: | 4,924 SF |
| Year Built: | 2023 |
NNN Pro is pleased to present the exclusive listing for a Flagship Car Wash located at 10874 Fairfax Boulevard, Fairfax, Virginia 22030. The site consists of roughly 4924 rentable square feet of building space on an estimated 0.54-acre parcel of land. This Flagship Car Wash is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $385,000 and has scheduled increases of 1.50% Annually.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
- Corporate Guaranty from Flagship HoldCo LLC | 34+ Unit Guaranty
- 1.50% Annual Rental Increases
- Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
- Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
- The Subject Property Has Been a Profitable Car Wash Location for 50+ Years Demonstrating the Viability of this Location
Key Details
| Price: | $5,923,077 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $385,000 |
| Address: | 10874 Fairfax Boulevard, Fairfax, Virginia 22030 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 1.50% Annually |
| Lot Size: | 0.54 Acres |
| Building Size: | 4,924 SF |
| Year Built: | 2023 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
James Westerberg
jwesterberg@nnnpro.com
License: NY: 10401304686
Robert Stein
rstein@nnnpro.com
License: NY: 10401341647
Gordon Pollock
gpollock@nnnpro.com
License: NY: 10401370688
Ryan Morris
rmorris@nnnpro.com
License: NY: 10401337336
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 225245999
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.