3107 Library RdCastle Shannon, PA 15234

For Sale
$5,029,092

High-yield NNN auto wash, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
94
Exceptional investment opportunity: This fee-simple, 3,510 square foot WetGo car wash in Castle Shannon, PA, presents a compelling net lease investment. Located at 3107 Library Rd, 15234, this 2023-built property sits on a 1.03-acre lot and boasts a 6.50% cap rate with a strong NOI of $326,891. The property benefits from a 19-year remaining lease term with a corporate guarantee from a reputable national brand, ensuring consistent income. Rent increases are built into the lease, with a 5% increase every 5 years and a 2.5% increase at each option period (8x5 years). The property enjoys high visibility in a high-traffic area with over 20,028 vehicles passing daily. The location is within a thriving retail corridor near major roadways and other national retailers, serving a dense population with high average household incomes ($96,900-$106,400 within a 1-5 mile radius). This is a rare opportunity to acquire a high-performing asset with significant long-term growth potential. 100% occupancy. All expenses are the responsibility of the tenant.

Highlights

  • Absolute net lease; tenant responsible for all expenses, 20-year term with 5% rent increases every 5 years and 2.5% at each option period.
  • Corporate guarantee from Giant Eagle, a reputable national brand.
  • Eligible for 60% bonus depreciation in year one.
  • High-visibility corner location with over 20,028 vehicles per day.
  • Strong daytime population; located near major roadways and numerous national retailers in the affluent Pittsburgh MSA.
  • Situated in a robust retail corridor with high traffic.

Property Details for 3107 Library Rd

Property type
Other retail properties, Automotive properties
Square Feet
3,510 SF
Year Built
2023
Lot Size (sq. ft)
44,867 SF

Location Insight

City
Castle Shannon
County
Allegheny
State
Pennsylvania
Latitude
40.3734411
Longitude
-80.0063384
3107 Library Rd, Castle Shannon, Pennsylvania

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3107 Library Rd
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