155 St Patricks Dr Saint Charles, MD 20603
- Specialty properties
- 15,700 SF
- 2.11 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 155 St Patricks Dr
- Year built
- 2010
- Lot size
- 2.11 lot acres
- Property size
- 15,700 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a 15,700 square foot, high-performing car wash located at 155 St Patricks Dr, Waldorf, MD 20603. The property sits on a 2.11-acre lot and boasts a 20-year absolute triple-net (NNN) lease with a corporate guarantee from Flagship HoldCo LLC, covering 34+ units. The current annual rent is $726,923, with a built-in 1.5% annual rent increase. Four five-year tenant renewal options exist, potentially extending the lease term to 40 years. Built in 2010, this 100% occupied property offers significant tax advantages, qualifying for both 60% bonus depreciation and 15-year accelerated depreciation. The asking price is $10,769,231, representing a compelling 6.75% cap rate and a price per square foot of $685.94. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential in a prime location. The property's strong tenant, lease structure, and attractive financial metrics make it an ideal addition to any investment portfolio. The property is a single-tenant operation.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saint Charles
- County
- Charles
- State
- Maryland
- Longitude
- -76.9279
- Latitude
- 38.621
