Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1925
Sq.Footage
8,000
8,000 SF. CMX25 building, 100% Leased Retail Building located in Brewerytown, ($256.02/SF) 7.50% Cap Rate. Brewery town is a rapidly developing neighborhood of North Philadelphia. The Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance. Fulton Bank has more than 5 years remaining on a NNN* lease and ownership recently executed a new, 7-year lease with one five-year renewal - with significant rent increases during the initial term and annual increases in the option period - with a dance studio tenant for the second floor space. There is also an unfinished basement accessed through bilco doors on Girard Ave sidewalk. INVESTMENT GRADE CREDIT TENANT Headquartered in Lancaster, PA, Fulton Bank is a publicly traded (NASDAQ: FULT), investment grade credit rated tenant with a Baa2 rating from Moody’s and over $26B in total assets. More than 50% of Fulton's location footprint is in the Greater Philadelphia area and they have targeted Philadelphia as a significant growth market. RETAIL CORRIDOR - Girard Avenue is quickly becoming a main retail corridor with numerous restaurants and shops between 26th and 30th streets in addition to surrounding national retailers like ALDI, Fine Wine & Good Spirits, Dollar Tree and Boost Mobile.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.09
-
Property Type
Residential Income
-
Architectural Style
Other
Exterior
-
Garage
No
-
Parking
On Street
Financial
-
Sales Price
$2,048,140
-
Tax Amount
7921.0
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Mark L Malfara , BHHS Fox & Roach-Chestnut Hill
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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