10765 Wawa Ln White Plains, MD 20695-3051

Property Details for 10765 Wawa Ln

Lot size

1.12 lot acres

Zone code

CC

Property type

Commercial land

APN

06-049362

APU

6049362

Description

This exceptional investment opportunity presents the chance to acquire a fee-simple interest in a brand-new, 5,367 square foot Flagship Carwash facility located at 10765 Wawa Lane, White Plains, MD. Built in 2023, this single-tenant property sits on a 1.12-acre lot and boasts a 20-year absolute NNN lease with Flagship Holding Company, LLC, the leading car wash brand in the DC Metro area, operating over 37 locations and boasting over 125,000 active subscription members. The lease provides significant financial security with a corporate guarantee and annual rent escalations of 1.50%. The annual net operating income (NOI) is $366,667, resulting in a 6.65% cap rate. The lease includes four 5-year renewal options, ensuring long-term stability. The property benefits from its strategic location near two additional Flagship locations and enjoys high visibility due to its proximity to a busy Wawa convenience store and significant daily traffic volume (68,700 vehicles per day) at the intersection of US-301 N and Billingsley Rd. This offering presents a compelling combination of strong tenant credit, substantial rent growth potential, and a prime location in a rapidly growing submarket (28.9% growth since 2010). The property is 100% occupied.