Brand New 20 Yr. Sale Leaseback- Strong Sales
4,224 SF Specialty Building Offered at $5,520,000 at a 6.50% Cap Rate in Bridgeville, PA 15017
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,520,000
- Property Type
-
Specialty
- Square Feet
- 4,224 SF
- Price / Square Foot
- $1,307
Listing Contacts
Eric Carlton
Verified Profile
Jereme Snyder
Verified Profile
John Bilyak
Verified Profile
- Property Info
Property Overview
The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to purchase a newly constructed single tenant absolute NNN leased asset that is fully occupied by ModWash in the Greater Pittsburgh Area (Population 2.3 Million). With a 20-year primary term, which commences at close of escrow, six 5-year option periods, and 1.5% annual rent increases throughout the lease, this is an ideal asset for a 1031 exchange or an investor looking for years of inflation resistant income with zero landlord responsibilities.
ModWash Operates over 80 car washes in 10 states with several dozen more currently in development. The fully automated car wash is strategically located along Washington Pike which sees over 23,500 VPD, is a half mile from Interstate 79 (72,116 VPD) and is within 15 miles from downtown Pittsburgh. Nearby retailers include The Home Depot, ALDI, Giant Eagle Supermarket, BJ’s Wholesale Club, Rite Aid, Chick-fil-A, Starbucks, McDonald’s, Dunkin’, Chipotle, and Taco Bell.
This is a great opportunity to purchase an absolute NNN leased car wash in a Pennsylvania’s second largest city with a new long-term lease, six 5-year options, annual rent increases, and zero landlord responsibilities, providing years of inflation resistant cash flows.
ModWash Operates over 80 car washes in 10 states with several dozen more currently in development. The fully automated car wash is strategically located along Washington Pike which sees over 23,500 VPD, is a half mile from Interstate 79 (72,116 VPD) and is within 15 miles from downtown Pittsburgh. Nearby retailers include The Home Depot, ALDI, Giant Eagle Supermarket, BJ’s Wholesale Club, Rite Aid, Chick-fil-A, Starbucks, McDonald’s, Dunkin’, Chipotle, and Taco Bell.
This is a great opportunity to purchase an absolute NNN leased car wash in a Pennsylvania’s second largest city with a new long-term lease, six 5-year options, annual rent increases, and zero landlord responsibilities, providing years of inflation resistant cash flows.
Property Details
- Class
- B
- Year Built
- 2022
- Stories
- 1
- Property Subtype
- Car Wash
- Lot Size (sq. ft)
- 84,506 SF
Highlights
- Brand New 20 Yr. Absolute NNN Sale-Leaseback at Close of Escrow - Accelerated Depreciation Asset
- Fastest Growing Car Wash Co. in U.S. (80+ Locations - 40+ Coming) - One of Most Popular Retail Segments
- Best Car Wash Sites within Industry - Near Crossings at South Fayette - Across from ALDI - Interstate 79
- Affluent Suburb ($55,538 HHI) outside Pittsburg - Dense Residential Trade Area - 2nd Largest City in State
- Proven Track Record of Growing Sales - Large Membership Growth - Strong Balance Sheet/Financials
- Pride of Ownership Construction/Maintenance - Rare 1.50% Annual Rent Bumps - Eco Friendly Model
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].