1333 Lehman St Lebanon, PA 17046-8337

Property Details for 1333 Lehman St

Year built

1994

Lot size

1.50 lot acres

Property size

3,478 SF

Property type

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.

Location Insight

City

Lebanon

County

Lebanon

State

Pennsylvania

Longitude

-76.3886

Latitude

40.3482

CBSA code

30140

CBSA name

LEBANON, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments