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