For Sale
$5,769,231

7600 Harpers Grn Moseley, VA 23120

High-yield car wash, 20-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
134
Exceptional investment opportunity in Moseley, Virginia, presents a brand-new, 5,500 square foot Flagstop Car Wash situated on a 5.69-acre lot at 7600 Harpers Green Way, Chesterfield County, zip code 23120. This single-tenant property boasts a 20-year absolute triple-net (NNN) lease with no landlord responsibilities, commencing at closing. The lease features a strong corporate guarantee from Flagstop Car Wash, a company operating 21 units and backed by Garnett Station Partners, an institutional capital partner with $2.3 billion in assets under management. The annual net operating income (NOI) is $375,000, resulting in a 6.50% capitalization rate. The lease includes annual rent increases of 1.50%, providing consistent growth. Furthermore, four 5-year renewal options are included, potentially extending the lease term to 40 years. Built in 2024, this property is currently 100% occupied and qualifies for 15-year accelerated depreciation and bonus depreciation. The asking price is $5,769,231. This is a rare opportunity to acquire a high-performing, low-maintenance asset with significant long-term potential. The property's location in Moseley, Virginia offers excellent visibility and accessibility.

Highlights

  • $5,769,231 asking price for a 5,500 SF car wash on a 5.69-acre lot in Moseley, VA.
  • 20-year absolute NNN lease with no landlord responsibilities.
  • Annual rent of $375,000 with 1.5% annual increases.
  • Strong corporate guarantee from Flagstop Car Wash, backed by Garnett Station Partners (AUM $2.3B).
  • Four, 5-year renewal options, extending the lease term to 40 years.
  • Qualifies for 15-year accelerated depreciation and bonus depreciation.

Property Details for 7600 Harpers Grn

Property type
Specialty properties, Car washes
Square Feet
5,500 SF
Year Built
2024
Lot Size (sq. ft)
247,856 SF

Location Insight

City
Moseley
County
Chesterfield
State
Virginia
Latitude
37.3967517
Longitude
-77.7100674

FAQs

What type of property is this?
Specialty property - High-yield car wash, 20-year lease.
Where is the specialty property located?
The property is located at 7600 Harpers Grn Moseley, VA.
What is the asking price?
The asking price for this property is $5,769,231.
What are key features of this property?
This property features: $5,769,231 asking price for a 5,500 SF car wash on a 5.69-acre lot in Moseley, VA.; 20-year absolute NNN lease with no landlord responsibilities.; Annual rent of $375,000 with 1.5% annual increases.
How can I contact the broker?
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7600 Harpers Grn
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