155 St Patricks DrSaint Charles, MD 20603

Property Details for 155 St Patricks Dr

Year built

2010

Lot size

2.11 AC

Property size (Sq ft)

15,700 SF

Property type

Retail properties

Property subtype

Other specialty 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.

Location Insight

City

Saint Charles

County

Charles

State

Maryland

Latitude

38.621

Longitude

-76.9279

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