Flagstop Car Wash
Chesterfield, VA
Key Details
| Price: | $5,769,231 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $375,000 |
| Address: | 7600 Harpers Green Way, Chesterfield, Virginia 23832 |
| 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: | 5.69 Acres |
| Building Size: | 5,500 SF |
| Year Built: | 2024 |
NNN Pro is pleased to present the exclusive listing for a Flagstop Car Wash located at 7600 Harpers Green Way, Chesterfield, Virginia 23832. The site consists of roughly 5500 rentable square feet of building space on an estimated 5.69-acre parcel of land. This Flagstop Car Wash is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $375,000 and has scheduled increases of 1.50% Annually.
About the Investment
- 20-Year Absolute Triple Net (NNN) Lease | At closing the tenant will execute a brand-new 20-year absolute triple-net lease. The lease will have no landlord responsibilities.
- Attractive Rent Increases | The lease will feature scheduled increases of 1.50% annually.
- Strong Corporate Guarantee | The lease will be subject to a strong corporate guarantee from Flagstop Car Wash, which operates 21 units and counting. Flagstop is supported by institutional capital partner Garnett Station Partners which has $2.3 billion of AUM. Garnett Station Partners has significant experience scaling multi-unit and auto service platforms.
- Compelling Renewal Options | The lease has 4, 5-year renewal options to extend the lease term for an additional 20 years.
- Bonus Depreciation | This property qualifies for 15-year accelerated depreciation as well as bonus depreciation. Discuss with a Certified Public Accountant for further details.
Key Details
| Price: | $5,769,231 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $375,000 |
| Address: | 7600 Harpers Green Way, Chesterfield, Virginia 23832 |
| 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: | 5.69 Acres |
| Building Size: | 5,500 SF |
| Year Built: | 2024 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Alexandre Marietto
amarietto@nnnpro.com
License: NY: 10401294047
Francis Purritano
fpurritano@nnnpro.com
License: NY: 10401333619
Gordon Pollock
gpollock@nnnpro.com
License: NY: 10401370688
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.