Exceptional investment opportunity: a newly constructed, 4,268 square foot car wash in Washington, PA, boasting a 20-year NNN lease with a 1.5% annual rent increase. Located on a 0.5-acre lot at 1410 Washington Rd (US Route 19), this single-tenant property enjoys a prominent position near major retail destinations including Tanger Outlets, Target, Walmart, and a Hollywood Casino. The property benefits from high visibility with over 23,600 vehicles passing daily. The tenant, ModWash, is a rapidly expanding national chain with over 100 locations and 34 under development, ensuring strong occupancy and consistent income. The lease commenced April 17, 2023, and has a remaining term of 18.4 years, with six 5-year option periods. The property's strong financials include a 6.50% cap rate, $358,977 NOI, and a sale price of $5,520,000 ($1,293.35/sq ft). This asset presents a compelling opportunity for investors seeking a stable, long-term investment with significant upside potential in a high-traffic area. The property's location within a densely populated, affluent suburb of Pittsburgh (average household income $112,025) further enhances its appeal. The fully automated car wash is an outparcel to a shopping center, minimizing landlord responsibilities. This is an ideal asset for a 1031 exchange or any investor seeking a low-maintenance, high-return investment with built-in inflation protection. The property's APN is 520-010-00-00-0015-07.
Highlights
Brand new, 20-year absolute NNN sale-leaseback at close of escrow; accelerated depreciation asset.
Investment opportunity in a rapidly expanding car wash company (100+ locations, 34+ under development); high-demand retail sector.
Prime car wash location near Hollywood Casino/Racetrack and Tanger Factory Outlets.
Located in an affluent Pittsburgh suburb ($112,025 average household income), dense residential area; second largest city in the state.
Demonstrated strong sales and membership growth; excellent financial performance.
High-quality construction and maintenance; rare 1.50% annual rent increases; environmentally friendly design.
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Contacts
Eric Carlton
Jereme Snyder
John Bilyak
Monica Robles
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1410 Washington Rd, Washington, Pennsylvania, 15301
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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1410 Washington Rd
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