Current Use by Public Records
- Retail properties & Spaces
Property Details for 8980 Salem-Unity Rd
- Year built
- 2022
- Lot size
- 1.58 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
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.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Mahoning
- State
- Ohio
- Longitude
- -80.821
- Latitude
- 40.9016
