273-281 W Baltimore Ave - Auto Repair FOR SALE


Clifton Heights, PA 19018
$2,688,000 USD
215-603-6914
273-281 W Baltimore Ave, Clifton Heights, PA for Sale
$2,688,000 USD
Auto Repair - FOR SALE
1/8
null | 6.25% Cap Rate

273-281 W Baltimore Ave
Clifton Heights, PA 19018


HIGHLIGHTS

  • The lease is backed by The Goodyear Tire & Rubber Company, a publicly traded company with an S&P B+ credit rating.
  • Goodyear has operated at this site for over 50 years and recently extended its lease early through May 2037, with options to 2047.
  • The property sits on a signalized corner of Baltimore Pike across from a new Super Wawa and near Home Depot and ACME.
  • The NNN lease requires the tenant to cover all expenses, with landlord responsibility limited to roof and structure; the roof was replaced in 2019 wit
  • This store ranks in the top 90% nationally and is the highest performer in its submarket according to Placer.ai.
  • Clifton Heights is a dense Philadelphia suburb with 528,000 residents within five miles and average household incomes above $100,000.

OVERVIEW

CBRE is pleased to exclusively present for sale this 8,000 square foot Goodyear Tire & Service property located on 0.65 acres at a signalized intersection along Baltimore Pike in Clifton Heights, Pennsylvania. The offering represents an attractive, long-term investment opportunity backed by a corporately guaranteed lease from The Goodyear Tire & Rubber Company (NASDAQ: GT), a publicly traded company with a B+ credit rating from Standard & Poor’s and arguably the most well-known brand in their industry. The lease features a passive structure with Goodyear responsible for 100% of common area maintenance, real estate taxes, and insurance. Landlord responsibilities are limited to roof and structure only; the roof was recently replaced in 2019 and has a 15-yr. warranty from Carlis le in effect through May 2034, vastly reducing the possibility of landlord expenses in the future.

FOR SALE DETAILS

PRICE

$2,688,000 USD

PRICE/SF

$336 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Goodyear Tire | Clifton Heights, PA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Service Station, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

CROSS STREETS

Oak Ave

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

C70

APN/PARCEL ID

10-00-00276-00

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

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