New 20 Yr. NNN Sale Leaseback- Trophy Site
4,286 SF Specialty Building Offered at $5,520,000 at a 6.50% Cap Rate in Washington, PA 15301
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,520,000
- Property Type
-
Specialty, Retail
- Square Feet
- 4,286 SF
- Price / Square Foot
- $1,288
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 9 states with several dozen more currently in development. The fully automated car wash is an
outparcel to Park Place at the Meadowlands shopping center and is located on Washington Road (U.S. Route 19) which sees over 23,600
VPD. Less than a half mile from the subject property lies the Hollywood Casino at The Meadows which comprises a 350,000 SF Casino with numerous gambling amenities, several dining options, race track with betting facilities, and state-of-the-art bowling alley. Countless retail attractions surround the subject property including the Tanger Outlets, Target, Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Chick-fil-A, Starbucks, McDonald’s, Chipotle, and many more.
outparcel to Park Place at the Meadowlands shopping center and is located on Washington Road (U.S. Route 19) which sees over 23,600
VPD. Less than a half mile from the subject property lies the Hollywood Casino at The Meadows which comprises a 350,000 SF Casino with numerous gambling amenities, several dining options, race track with betting facilities, and state-of-the-art bowling alley. Countless retail attractions surround the subject property including the Tanger Outlets, Target, Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Chick-fil-A, Starbucks, McDonald’s, Chipotle, and many more.
Property Details
- Class
- B
- Year Built
- 2022
- Stories
- 1
- Property Subtype
- Car Wash, Freestanding
- Lot Size (sq. ft)
- 43,996 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 in the Space- Near Hollywood Casino/Racetrack- Across from Tanger Factory Outlets
- Affluent Suburb ($112,025 HHI) outside Pittsburg- Dense Residential Trade Area- 2nd Largest City in State
- Proven Track Record of Strong Sales- Large Membership Growth- Excellent Balance Sheet/Financials
- Pride of Ownership Construction/Maintenance- Rare 1.50% Annual Rent Bumps- Eco Friendly Model
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