Prime Location: Strategically situated in Hanover County, with high visibility and accessibility.
High Traffic Count: Over 48,000 cars per day, ensuring strong customer flow.
Established Tenant: Car Pool, LLC, Virginia’s largest full-service car wash operator.
Absolute NNN Lease: Zero landlord responsibilities, making it a hassle-free investment.
Long-Term Lease: 6 years remaining with three 5-year renewal options.
Rental Increases: 10% rent increases every five years, with the next one in December 2030.
Strong Financials: Current NOI of $128,108.75 with a 5.75% cap rate.
Surrounding Retail: Located in a dense retail corridor with major national brands.
Modern Facilities: 90-foot conveyor tunnel and state-of-the-art wash equipment.
Growing Demographics: Population of over 94,086 with an average household income exceeding $90,764 within a five-mile radius.
The seller credits the buyer for any rent difference at settlement.