Mod Wash - Car Washes FOR SALE


Salisbury, MD 21801
$4,345,000 USD
949-903-3399
Mod Wash, Salisbury, MD for Sale
$4,345,000 USD
Car Washes - FOR SALE
1/7
null | 6.5% Cap Rate

Mod Wash
Salisbury, MD 21801


HIGHLIGHTS

  • Brand New 20 Yr. Absolute NNN Sale-Leaseback at Close of Escrow- Accelerated Depreciation Asset
  • Fastest Growing Car Wash Co. in U.S. (100+ Locations- 34+ Coming)- One of Most Popular Retail Segments
  • Irreplaceable Retail Density- PAD to North Point Power Center (Walmart/Target/Sam’s Club/Best Buy)
  • Affluent Coastal Suburb ($99,637 HHI) outside Washington DC- 1st “World Kindness City in U.S.” 2019
  • 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

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 Salisbury, MD. 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 100 car washes in 10 states with 34 more currently in development. The fully automated car wash is located on a 0.83 acre parcel directly on N Salisbury Blvd (US-13) which sees over 33,000 VPD, is within easy access of Salisbury Bypass/US-50 (32,000 VPD), and is a mile from The Centre at Salisbury, a 862,000 SF super regional mall. The subject property is strategically positioned along the main retail corridor of Salisbury with nearby retailers including Target, Walmart Supercenter, Sam’s Club, The Home Depot, Hobby Lobby, Kohl’s, Chick-fil-A, McDonald’s, Wendy’s, and more. Additionally, several automotive oriented retailers are within the immediate vicinity including Gateway Subaru and Hertrich Chevrolet & Cadillac with numerous other dealerships two miles away.

FOR SALE DETAILS

PRICE

$4,345,000 USD

PRICE/SF

$754 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New 20 Yr. Sale Leaseback- Trophy Site

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

ADD'L SUBTYPES

Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

35,981 SF

ZONING

C

APN/PARCEL ID

05-107547

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Eric CarltonColliersMore Info
949-903-3399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.