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4406 CRAIN HWY, BOWIE , MD
10100 Business ParkwayLanham, Maryland 20706+1 301 459 4400naimichael.com
4406 Crain HighwayBowie, Prince George’s County, MD 20770
AUTO CARE PORTFOLIO FOR SALE
Car Wash Drive-Thru
Full Front View of the Car Wash
Car Wash Seating Area
Car Wash Bays
PROPERTY FEATURES &IMPROVEMENTS
Includes Existing Business and Long-Term Leases
PROPERTY HIGHLIGHTS
• Property includes 3 buildings built in 2000 totaling 7,400 ± SF• Approximately 0.81 acres• Zoned C-M (Commercial Miscellaneous)• Flexible zoning that allows for a wide variety of retail uses• Great signage• SALE PRICE: $2,100,000.00 | Total Cap Rate = 6.5%
4406 CRAIN HWY, BOWIE , MD
Bowie Retail Market Statistics
The Bowie Retail Market, a subset of the Prince George’s County Retail Market, is strong and currently experiencing high occupancy. Major additions to the City’s Retail space inventory have occurred recently and are expected to continue.
Approximately 9.8% of the Prince George’s County Sub-market Retail Space is in Bowie. The price per square foot for retail space in Bowie is higher than the county average, which is indicative of the strength of the market and the attractiveness of doing business in Bowie.
Market Overview
AVAILABILITY BOWIE WASH. DC
Market Rent/SF $26.25 ^ $28.71 v
Vacancy Rate $6.2% ^ 4.3 ^
Vacant SF 354 K ^ 11.6 ^
Availability Rate 5.6% ^ 5.8 ^
Available SF 323 K ^ 15.8 M ^
Sublet SF 12.2 K ^ 631 K v
Months on Market 17.0 11.7
INVENTORY
Existing Buildings 253 ^ 20,297 ^
Inventory SF 5.7 M ^ 268 M ^
Average Building SF 22.7 K ^ 13.2 K ^
Under Construction SF 13.6 K ^ 2.6 M ^
12 Mo Delivered SF 0 v 1.2 M v
DEMAND
12 Mo Net Absorption SF (219 K) 336 K
6 Mo Leasing Probability 28.3% 32.3%
SALES
12 Mo Properties Sold 21 ^ 670 v
Market Sale Price/SF $196 v $300 ^
Average Market Sale Price $4.8 M v $4 M ^
12 Mo Sales Volume $93.1 M ^ $2 B ^
Market Cap Rate 7.6% ^ 6.5% ^
CoStar
PROPERTY DETAILS
PRECISION TUNE AUTO CARE REPAIR SHOP
PRO WASH
CAR WASH DETAIL SHOP
• Approx. 3,200 SF• 5 bay (3 wand, 2 automatic)• 5 year lease with one (1) 5 yr renewal option*• NNN (taxes, water, sewer, utilities and CAM)
• Approx. 3,300 SF• 6 bay (tandem)• 5 year lease with One (1) 5 yr renewal option*
• $6,500 P/M lease rate with 3% annual escallations • Personal Guarantee in place• NNN (taxes, water, sewer, electric and CAM charges)
• Approx. 900 SF• 2 bays (no lifts)• NNN (taxes, water, sewer, utilities and CAM)
* The car wash and detail shop are leased to a single tenant and both buildings are on the same lease. The total lease rate is $5,000 per month with 3% annual Escalations. LEASE EXECUTION DATE: 1/22/2018
Precision Tune Auto Care has been in the automotive aftermarket business for more than 40 years. They intimately
know the industry and pledge to make it easy for franchisees to open and operate a successful auto repair franchise
by giving them the tools needed. The automotive aftermarket service and repair industry is a growing business
with enormous potential. Precision Tune Auto Care began as a small tune up shop in Beaumont, TX in 1976 and
has grown to more than 320 service centers operating in six countries. They are a recognized world leader in the
automotive service industry and have been a top rated franchise 500 company for more than 30 years!
1997 Pro Wash started as a mobile car wash with 1 truck. The Truck became immobile in a shopping center parking
lot in Marlow Heights, where they negotiated space and continued providing services. Forced to close by the
County in 1999 due to zoning regulations, they then secured the first location in Clinton Md. Pro Wash then opened
a 2nd location in Capitol heights, MD. The third location is in this Bowie location, 4406 Crain Highway.
4406 CRAIN HWY, BOWIE , MD
THE SUBJECT PROPERTY consists of 7,400 SF in three separate buildings/facilities including a 3,300 SF main
building currently being used for auto repair (Precision Tune); a 900 SF building currently being used for automobile
window tinting and detailing; and a 3,200 SF open bay, automobile self-washing facility. The land is approximately
.81 acres.
4406 Crain Highway is located directly on US Route 301 (known as Crain Highway) in Bowie, Prince George’s
County, MD 20716 along the southbound lane. It is contiguous to the Bowie Gateway Center which comprises over
600,000 square feet of gross leasable area (GLA). Additionally, it is within 1 mile of the Bowie Town Center which
encompasses in excess of 800,000 GLA and Collington Plaza
that has over 120,000 GLA. There are several other smaller,
yet significant, retail centers that promote very robust retail
activity and traffic in the immediate and surrounding area.
Located at the intersection of Routes 50 and 301, these
major arteries are heavily travelled and highly visible as they
are primary routes into Washington, DC (14 miles), Annapolis,
Md. (8 miles) and Baltimore, Md. (25 miles).
INVESTMENT HIGHLIGHTS
THE OFFERING provides an opportunity to acquire a fully leased automotive site situated in a high traffic, highly
visible location in Bowie, MD. There are two NNN leases in place with options to extend at market rate increases
in the base term and options. The seller of this property was the former franchisee owner/operator of the Precision
Tune Auto Care business. The business, one of the two NNN lessees, was successfully operated for the past 19
years and was recently sold into an entity that signed a 5 year lease on the property and will continue operating as
a Precision Tune franchise.
The second NNN tenant, Pro Wash, is a successful regional company that operates several locations in Prince
George’s and Anne Arundel Counties. They are in the second year of a five year initial term and have two options to
renew. Their business model consists of a mixture of self-wash, automatic car wash and hand washing and detailing
services, including window tinting.
For more information on the tenants, please see previous page.
• Highly visible location
• Situated conveniently at the Route 50 and 301 intersection
• Adjacent to the Bowie Gateway Shopping Center
LOCATION HIGHLIGHTS
DEMOGRAPHICS DRIVE DISTANCES
TRAFFIC COUNT PER MDSHA
(2018)
LOCATION
Annapolis, MD 10 Miles
Washington, DC 14 Miles
Baltimore, MD 20 Miles
1 MILE 3 MILE 5 MILE
Population 7,596 43,254 102,337
Households 3,244 15,561 35,451
Avg Household Income $135,887 $145,531 $163,663
Route 50 111,541 vpd
Route 301 63,222 vpd
Spotlight 2020 Est.
4406 CRAIN HWY, BOWIE , MD
AMENITIES
AREA AUTO REPAIR COMPETITION
TERRY ROGERSAssociate Broker+1 301 526 [email protected]
JONATHAN RENEAU, SIORSenior Vice PresidentSales Manager+1 301 918 2920
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt
its accuracy, but we do not guarantee it. Floor plans, site plans and other graphic representations of this property have been reduced and reproduced,
and are not necessarily to scale. All information should be verified prior to purchase or lease.