8980 Salem-Unity RdSalem, OH 44460

Property Details for 8980 Salem-Unity Rd

Year built

2022

Lot size

1.58 AC

Property size (Sq ft)

4,375 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 4,375 square foot, single-tenant retail property located at 8980 Salem-Unity Rd, Salem, Ohio 44460. The property, built in 2022, sits on a 1.58-acre lot and is currently 100% occupied by a ModWash, a rapidly expanding, high-end car wash brand with over 80 operating locations and 80+ under development. The property boasts a 20-year NNN lease with a 1.5% annual rent increase, ensuring consistent income growth. The current asking price is $5,005,000, representing a compelling 6.50% cap rate and a price per square foot of $1,144. The Net Operating Income (NOI) is $325,069. This strategically located asset benefits from high visibility on a main thoroughfare, positioned across from major retailers such as Walmart, Home Depot, and Aldi. The long-term lease, coupled with the strong tenant and favorable location, makes this an attractive investment with potential for accelerated depreciation. The property's features include a gas station and storefront components, offering a diversified revenue stream. This is a rare opportunity to acquire a high-performing asset in a thriving market.

Location Insight

City

Salem

County

Mahoning

State

Ohio

Latitude

40.9016

Longitude

-80.821

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