2431 Old Washington Rd
Waldorf, MD 20601
Retail Property For Sale

Fortis Net Lease is pleased to present a Service King Collision and Repair Center at 2431 Old Washington Rd in Waldorf, MD. This Ten-Year Double Net Lease has minimal landlord responsibilities and over seven years remaining on the initial term. The lease features 3% annual rent increases after the third year of the lease (first increase in 2019), as well as three, five-year options. The lease is guaranteed by Service King Inc., one of the top four national collision and repair chains. The subject property is strategically located close to Crain Hwy, a main thoroughfare of Waldorf, with over 60,000 VPD. The property is situated in a retail and automotive corridor, surrounding retail tenants include Ford, Honda, Lowe's, Walmart and Home Depot. The surrounding area has over 226,000 residents within 10 miles and a 5.53% projected growth rate by 2024 within 5-miles. The median household income within 10 miles exceeds $105,000. Service King is a national collision repair company founded in 1976. Service King, through opening new stores and acquiring smaller repair chains, has grown to over 340 locations in 22 states. Global investment and advisory group Blackstone purchased majority ownership of Service King in July of 2014 and remain the majority owner.