1333 Lehman StLebanon, PA 17046

  • Land
  • 3,478 SF
For Sale
$5,111,111 View listing

Property Details for 1333 Lehman St

Year built
1994
Lot size
1.50 AC
Property size (Sq ft)
3,478 SF
Property type
Land
Property subtype
Commercial land
APN
27-2347913-372633-0000
APU
2723479133726330000

Description

Exceptional investment opportunity: A fee-simple, 4,332 square foot car wash located at 1333 E Lehman St, Lebanon, PA 17046. This brand-new (2024 construction) property sits on a 1.5-acre lot and boasts a 20-year NNN lease with a prominent tenant, Shiny Shell Car Wash, commencing December 30, 2023. The lease includes four 5-year renewal options, with annual rent increases of 1.25%. The current asking price is $5,111,111, representing a 6.75% cap rate and a net operating income (NOI) of $345,000. This strategically located outparcel benefits from its proximity to a high-traffic Walmart (approximately 2.7 million unique visits annually), Sunoco and Walmart gas stations, and other major grocery and retail establishments. The strong surrounding demographics and high traffic volume (approximately 22,863 vehicles per day within 19 miles) further enhance the investment potential. The property's location is also advantageous due to its proximity to Hersheypark, Pennsylvania's largest amusement park, attracting approximately 3 million annual visitors. The car wash industry's robust growth, with 72% of drivers utilizing professional car washing services, adds to the long-term viability of this investment. This property is eligible for accelerated depreciation and 60% bonus depreciation in 2024 (consult a tax professional for details). This is a rare opportunity to acquire a high-performing, stable investment with significant upside potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $614,463
    Hospitality
    $562,845
    Educational
    $468,280
    Medical
    $484,385
    Retail
    $728,436
1333 Lehman St, Lebanon, Pennsylvania

Location Insight

City
Lebanon
County
Lebanon
State
Pennsylvania
Latitude
40.3482
Longitude
-76.3886
CBSA code
30140
CBSA name
LEBANON, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$8,197
$362,500
-
$362,500
-
$372,176
-
$372,176

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].