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… Read More 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. Read Less
Courtesy of Mark Malfara, BHHS Fox & Roach-Chestnut Hill [email protected]
Listing Snapshot
Days Online
50
Last Updated
Property Type
Townhouse
Square Ft.
8,000
Lot Size
0.09 Acres
Year Built
1925
MLS Number
PAPH2461480
30 Days Snapshot Of 19130
$502k
+22%
(avg) sold price
38
+65%
homes sold
59
+51%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
8,000 sqft living area, Built in 1925, Major renovation in 2018, Structure Type: End of Row/Townhouse, 2 units in building, 2 levels in building, Masonry
Cooling
Central Air, Electric, Central A/C
Accessibility Features
Other
Expenses
Operating Expense: $22,193, Insurance
Foundation
Concrete Perimeter, Brick/Mortar
Heating
Natural Gas, Forced Air
Income
Gross Income: $175,804, Net Operating Income: $153,610, Apartment Rentals
Lot
4,000 sqft, Lot Size Dimensions: 40.00 x 100.00, 0.09 acres
Property
Other Structures: Above Grade, 2 single-room units
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
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