ModWash

1410 Washington Rd, Washington, PA 15301

$5,520,000

Cap Rate 6.50%

Views: 152 DOM: 566 Updated: 10.21.24 Posted: 05.17.23 Status: Active

Summary

Price $5,520,000	Built/Renov 2022	Tenant ModWash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,286	Lease Start 11-01-2024	#Units 75
Price/SF $1,287.91	Expiration 10-31-2044	Tenant Type Automotive
NOI $358,977	R. Term 19.11	Ownership Fee Simple
Rent/SF $93.38	Increases 1.5%/1/yrs	Pop 5Mi 65,683
Lot/AC 0.97	Options 6/5yrs/1.5%	AHHI 5Mi $100,852

Lease Highlights

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

Location Description

The fully automated car wash is an outparcel to Park Place at the Meadowlands shopping center and is located on Washington Road (U.S. Route 19) which sees over 23,600 VPD. Less than a half mile from the subject property lies the Hollywood Casino at The Meadows which comprises a 350,000 SF Casino with numerous gambling amenities, several dining options, racetrack with betting facilities, and...

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Key Features

New construction
Near major nationals
Strategically located
Highway location
Affluent AHHI $100K 5 Mi
Brand new lease
Long 20+ yr lease
Absolute NNN
Annual rent increases
Corporate Guarantee

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Links

ModWash Wikipedia Washington, Pennsylvania Zip Code 15301 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 :	2,591	20,383	67,535
2023 Total Population :	2,458	19,835	66,999
2023 Employed Civilian Pop :	1,418	10,574	34,771
2023 Total Businesses :	188	940	3,389
2023 Average Household Income :	$ 119,611	$ 119,487	$ 100,816
2023 Total Consumer Spending :	$ 122 M	$ 879 M	$ 2513 M
2023 Median Age :	46	48	46
2023 Total Households :	1,201	8,603	28,900
2023 Pop Age 25+: Bachelor's Degree :	738	4,248	11,879
2023 Average Home Value :	$ 304,842	$ 309,103	$ 291,223

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Racetrack Rd	Washington Rd	2017	12,690	0.35 mi
	Quail Acres Ln	2021	14,129	0.60 mi
Meadow View Road	Meadowview Rd	2020	521	0.87 mi
Washington Road	Martha Dr	2020	8,855	0.94 mi
Washington Road	Martha Dr	2021	20,578	0.95 mi
Washington Road	Coachside Dr	2021	16,432	0.99 mi
Meadowbrook Drive	Coachside Dr	2020	813	0.99 mi
Washington Road	Coachside Dr	2019	8,299	1.01 mi
	Racetrack Rd	2019	4,168	1.14 mi
Allison Ave	Racetrack Rd	2017	12,035	1.17 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
24219 Views
62 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
22544 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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