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Mod Wash - New 20 Yr. Sale Leaseback- Trophy Site

5,766 SF Specialty Building Offered at $4,345,000 at a 6.50% Cap Rate in Salisbury, MD 21801

Car Washes Maryland Salisbury Mod Wash, Salisbury, MD 21801

Investment Highlights

  • Brand New 20 Yr. Absolute NNN Sale-Leaseback at Close of Escrow- Accelerated Depreciation Asset
  • Irreplaceable Retail Density- PAD to North Point Power Center (Walmart/Target/Sam’s Club/Best Buy)
  • Proven Track Record of Strong Sales- Large Membership Growth- Excellent Balance Sheet/Financials
  • Fastest Growing Car Wash Co. in U.S. (100+ Locations- 34+ Coming)- One of Most Popular Retail Segments
  • Affluent Coastal Suburb ($99,637 HHI) outside Washington DC- 1st “World Kindness City in U.S.” 2019
  • Pride of Ownership Construction/Maintenance- Rare 1.50% Annual Rent Bumps- Eco Friendly Model

Executive Summary

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.

Property Facts

Price $4,345,000 Building Class B
Price Per SF $754 Lot Size 0.83 AC
Sale Type Investment NNN Building Size 5,766 SF
Cap Rate 6.50% No. Stories 1
Sale Conditions Sale Leaseback Year Built/Renovated 1997/2020
Property Type Specialty Parking Ratio 3.47/1,000 SF
Property Subtype
Car Wash
  • General Retail Convenience Store
  • General Retail Freestanding
 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $4,345,000
Price Per SF $754
Sale Type Investment NNN
Cap Rate 6.50%
Sale Conditions Sale Leaseback
Property Type Specialty
Property Subtype
Car Wash
  • General Retail Convenience Store
  • General Retail Freestanding
Building Class B
Lot Size 0.83 AC
Building Size 5,766 SF
No. Stories 1
Year Built/Renovated 1997/2020
Parking Ratio 3.47/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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PROPERTY TAXES

Parcel Number 05-107547 Improvements Assessment $0
Land Assessment $0 Total Assessment $1,430,300

PROPERTY TAXES

Parcel Number
05-107547
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,430,300

zoning

Zoning Code C (Commercial)
C (Commercial)
(949) 903-3399

Contacts

  • Listing ID: 28252170

  • Date on Market: 4/17/2023

  • Last Updated:

  • Address: Mod Wash, Salisbury, MD 21801

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Mod Wash, Salisbury, MD for sale Building Photo- Image 1 of 8
MOD Carwash - Salisburg, MD (Drone) _-26
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Mod Wash, Salisbury, MD for sale Building Photo- Image 4 of 8
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Mod Wash, Salisbury, MD for sale Building Photo- Image 7 of 8
Aerial_ 2755 N Salisbury Blvd, Salisbury, MD

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Mod Wash - New 20 Yr. Sale Leaseback- Trophy Site
(949) 903-3399 x

Mod Wash - New 20 Yr. Sale Leaseback- Trophy Site

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Eric Carlton

(949) 903-3399

(949) 903-3399

Jereme Snyder

(949) 724-5552

(949) 724-5552

Matthew Gannon

(202) 534-3000

(202) 534-3000

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