For Sale
$5,520,000

1410 Washington RdWashington, PA 15301

NNN Leased Car Wash, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Property Details for 1410 Washington Rd

Property type
Specialty properties, Car washes
Square Feet
4,268 SF
Lot Size (sq. ft)
21,780 SF

Location Insight

City
Washington
County
Washington
State
Pennsylvania
Latitude
40.2123178
Longitude
-80.1952279
1410 Washington Rd, Washington, Pennsylvania

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1410 Washington Rd
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