ModWash

3101 Washington Pike, Bridgeville, PA 15017

$5,520,000

Cap Rate 6.50%

Views: 33 DOM: 122 Updated: 04.25.24 Posted: 01.18.24 Status: Active

Summary

Price $5,520,000	Built/Renov 2022	Tenant ModWash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,224	Lease Start 06-01-2024	#Units 87
Price/SF $1,306.82	Expiration 05-31-2044	Tenant Type Automotive
NOI $358,955	R. Term 20.0	Ownership Fee Simple
Rent/SF $84.98	Increases 1.5%/1/yrs	Pop 5Mi 160,527
Lot/AC 1.81	Options 6/5yrs/1.5%	AHHI 5Mi $139,324

Lease Highlights

ModWash will be executing a brand new 20-year lease with 6 (5-year) options at the close of escrow
Lease features 1.5% annual rental increases throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

ModWash is strategically located on Washington Pike, with access to 23,500 vehicles passing by daily. The property is conveniently situated a half mile from Interstate 79, which sees a substantial daily traffic volume of 72,116 vehicles. The surrounding area features prominent retailers such as The Home Depot, ALDI, Giant Eagle Supermarket, BJ’s Wholesale Club, Rite Aid, Chick-fil-A, and more....

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Annual rent increases
Corporate Guarantee

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Links

ModWash Wikipedia Bridgeville, Pennsylvania Zip Code 15017 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: ModWash
Guarantor:Corporate
Company:HUTTON
# Units:87
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 :	6,168	51,519	161,744
2023 Total Population :	6,224	51,175	162,094
2023 Employed Civilian Pop :	3,290	26,036	87,274
2023 Total Businesses :	363	1,826	5,959
2023 Average Household Income :	$ 110,272	$ 155,697	$ 139,117
2023 Total Consumer Spending :	$ 276 M	$ 2672 M	$ 8096 M
2023 Median Age :	48	48	47
2023 Total Households :	2,920	20,277	68,362
2023 Pop Age 25+: Bachelor's Degree :	1,334	13,058	40,754
2023 Average Home Value :	$ 298,130	$ 371,546	$ 350,795

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Chartiers St	Spruce Way	2015	9,000	0.26 mi
Chartiers Street	Elm St	2021	9,060	0.26 mi
Washington Pike	Millers Rd	2020	15,592	0.36 mi
Washington Pike	Millers Rd	2020	15,592	0.36 mi
	Millers Rd	2021	12,103	0.39 mi
	Millers Rd	2021	3,588	0.41 mi
Bank Street	Elm St	2021	4,936	0.43 mi
Bank Street	Chestnut St	2019	5,124	0.44 mi
Washington Pike	Millers Rd	2021	25,048	0.44 mi
Millers Rd	Washington Pike	2016	25,698	0.44 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

149 Listings
7578 Views
42 Sold

Jereme Snyder

Colliers NNN Group

Contact

138 Listings
6986 Views
40 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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