ModWash

2755 N Salisbury Blvd, Salisbury, MD 21801

$4,345,000

Cap Rate 6.50%

Views: 159 DOM: 554 Updated: 11.04.24 Posted: 05.17.23 Status: Active

Summary

Price $4,345,000	Built/Renov 2022	Tenant ModWash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,766	Lease Start 12-01-2024	#Units 75
Price/SF $753.56	Expiration 11-30-2044	Tenant Type Automotive
NOI $282,346	R. Term 20.0	Ownership Fee Simple
Rent/SF $48.97	Increases 1.5%/1/yrs	Pop 5Mi 54,000
Lot/AC 0.83	Options 6/5yrs/1.5%	AHHI 5Mi $72,067

Lease Highlights

New construction
Brand-new lease with a 20-year primary term, which commences at close of escrow and 6 (5-year) option periods
Absolute NNN lease | Zero landlord responsibilities
1.5% annual rent increases throughout the lease
Corporate guaranteed lease

Location Description

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. The site 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...

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Key Features

New construction
Major thoroughfare
Dense retail corridor
Near major nationals
Strategically located
Highway location
Major MSA
Long 20+ yr lease
Annual rent increases
Corporate Guarantee

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Links

ModWash Wikipedia Salisbury, Maryland Zip Code 21801 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: ModWash Express Car Wash
Guarantor:Corporate
Company:HUTTON
# Units:75
Stock:Private

About Tenant

ModWash is a car service agency that provides express car wash services. The company offers single washes, as well as unlimited and family plan memberships, with their washes including bug spray,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,166	22,949	57,095
2023 Total Population :	3,905	21,652	54,964
2023 Employed Civilian Pop :	1,959	10,840	27,005
2023 Total Businesses :	253	1,040	2,941
2023 Average Household Income :	$ 92,299	$ 81,971	$ 75,545
2023 Total Consumer Spending :	$ 142 M	$ 602 M	$ 1428 M
2023 Median Age :	37	39	37
2023 Total Households :	1,779	8,493	21,727
2023 Pop Age 25+: Bachelor's Degree :	408	1,929	5,229
2023 Average Home Value :	$ 268,225	$ 328,249	$ 311,136

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Dagsboro Rd		2020	4,585	0.08 mi
Dagsboro Road		2018	5,484	0.12 mi
US 13		2020	34,104	0.45 mi
Ocean Hwy	E Naylor Mill Rd	2003	37,675	0.56 mi
East Naylor Mill Road	Ocean Hwy	2018	8,744	0.69 mi
Naylor Mill Rd		2020	12,632	0.70 mi
West Naylor Mill Road	Northgate Dr	2020	12,632	0.77 mi
Connelly Mill Rd		2020	2,495	0.86 mi
West Naylor Mill Road	Northgate Dr	2018	15,130	0.88 mi
Ocean Hwy	Stage Rd	2018	29,560	0.97 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
23608 Views
62 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
21991 Views
58 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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