Flagstop Car Wash 2624 Anderson Hwy 14,000 SF Retail Building Powhatan, VA 23139 $5,357,143 ($382.65/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term 20-Year NNN Lease
- Essential and High-Demand Industry
- Strong Corporate Guarantee
- Attractive Annual Rental Increases
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Flagstop Car Wash located at 2624 Anderson Hwy, Powhatan, VA 23139. The site consists of roughly 3,083 rentable square feet of building space on an estimated 0.92-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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,000 SF
Building Class
C
Year Built
2021
Price
$5,357,143
Price Per SF
$382.65
Cap Rate
7%
NOI
$375,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.92 AC
Zoning
RC - Residential Commercial
Frontage
163’ on Anderson Highway
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 041-12 | Improvements Assessment | $1,334,000 |
| Land Assessment | $665,300 | Total Assessment | $1,999,300 |
