150 W Chelten Ave - Bank FOR SALE


Philadelphia, PA 19144- Germantown
$1,575,000 USD
484-482-2550
150 W Chelten Ave, Philadelphia, PA for Sale
$1,575,000 USD
Bank - FOR SALE
1/6
null | 6.21% Cap Rate

150 W Chelten Ave
Philadelphia, PA 19144
Germantown


HIGHLIGHTS

  • Investment Grade Tenant: PNC Bank is one of the largest and most stable financial institutions in the United States.
  • Long Operating History: Originally developed as a ground lease to Provident National Bank, this location has been operated as a bank since the 1950's
  • Philadelphia MSA: Germantown is a neighborhood in northwest Philadelphia, about 8 miles from city center Philadelphia.

OVERVIEW

Equity CRE is pleased to exclusively offer for sale a single-tenant, multi-story, net-leased PNC Bank branch in the Germantown neighborhood of Philadelphia, PA. PNC Bank is operating in the first year of a 5-year extension, with one (1), 5-year extension option remaining. The building features a ground floor with second-floor space available in the back of the building as well as 9 private, off-street parking spaces in the rear. This is being offered on a fee simple basis and features an absolute NNN lease, with no landlord obligations – providing an investor with passive income. The lease is backed by a corporate guarantee from PNC Bank, one of the largest and most stable financial institutions in the world, offering investors a top guarantee available on the market. Headquartered in Pittsburgh, PA, the bank operates over 2,200 branches & 60,000 ATMs nationwide and has nearly $560 billion in assets. Located about 8 miles northwest of center city Philadelphia, Germantown is a historic and culturally rich neighborhood. Founded in 1683, it played a key role in early American history, including as the site of the Battle of Germantown during the Revolutionary War. Germantown Ave is one of the primary corridors not only through the neighborhood, but through the city and suburbs, ranging from the suburban town of Collegeville, PA through Plymouth Meeting and ending in the Northern Liberties neighborhood of Philadelphia along the Delaware River. Germantown backs up to the Olney neighborhood of Philadelphia, which is home to LaSalle University – a private Catholic university with an enrollment of over 4,000 students. Germantown has several Septa bus routes running along Germantown Ave as well as Septa’s Germantown Regional Rail Station.

FOR SALE DETAILS

PRICE

$1,575,000 USD

PRICE/SF

$252 USD /SF

CAP RATE

6.21%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PNC Bank – Net-Leased Investment Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

CMX-2.5

APN/PARCEL ID

882963360

ASK ABOUT THIS PROPERTY

David LaiterEquity CREMore Info
484-482-2550

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David LaiterEquity CREMore Info
484-482-2550

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.