Here are the CoStar sale notes: --- Blueprint Commercial is pleased to exclusively offer for sale 304 Market Street, Unit A, a stabilized, single-tenant NNN retail condominium located in the heart of Old City, Philadelphia. The 1,460 SF ground-floor unit is 100% occupied by Primo Hoagies (MAA Enterprises LLC), one of the most recognized sandwich franchises on the East Coast with 100+ locations. The property is offered at $595,000 ($407/SF) reflecting a ±7.61% cap rate on Year 1 NOI of $45,300. LEASE OVERVIEW The in-place lease commenced November 1, 2024 and runs through October 31, 2029, with one five-year renewal option at $4,150/month — a 10% increase over the current base rent of $3,775/month. The lease is structured as 100% NNN, with the tenant responsible for all real estate taxes, property insurance, common area/condo fees, utilities, management, and repairs. Total gross rent is $5,000/month ($60,000/year) inclusive of $1,225/month in NNN reimbursements. There is zero landlord management responsibility. The renewal option extends income visibility through October 31, 2034, and the renewal NOI of $49,800 implies an 8.37% cap rate on the purchase price. FINANCIAL SUMMARY List Price: $595,000 Price Per SF: $407/SF Year 1 NOI: $45,300 Cap Rate: ±7.61% Renewal NOI: $49,800 Renewal Cap Rate (on Purchase): ±8.37% Total Gross Revenue: $60,000/year Expense Structure: 100% NNN Unleveraged 10-Year IRR: 7.74% Leveraged 10-Year IRR (65% LTV): 8.93% Year 1 Cash-on-Cash (Unleveraged): 7.40% Renewal Cash-on-Cash (Leveraged): 8.43% Equity Multiple (Leveraged): 2.00x DSCR: 1.47x Minimum Equity Required: $220,150 Leveraged assumptions reflect 65% LTV, 7.00% fixed rate, 30-year amortization, and an exit at an 8.00% cap rate in Year 10. TENANT OVERVIEW The tenant, MAA Enterprises LLC d/b/a Primo Hoagies, operates under the Primo Hoagies franchise, founded in 1992 in South Philadelphia. The brand has grown to over 100 locations across the East Coast and has been recognized by USA Today as the Best Sandwich Shop in America for 2023, 2024, and 2025. Primo Hoagies specializes in premium Italian-style hoagies, specialty sandwiches, and catering, and is actively expanding through franchising across the Mid-Atlantic and Southeast. The Old City location benefits from the brand's deep Philadelphia roots and strong visibility on one of the city's highest-traffic retail corridors. LOCATION OVERVIEW The property is situated on the 300 block of Market Street in Old City, one of Philadelphia's most visited and recognizable neighborhoods. The block sits steps from Independence Hall, the President's House Site, and the Independence Visitor Center — anchors that collectively draw over 3.5 million annual visitors to the immediate area. The surrounding neighborhood supports a growing mix of upscale dining, boutique retail, galleries, and an expanding residential base of young professionals. The property carries a Walk Score of 99 (Walker's Paradise) and a Transit Score of 100 (Rider's Paradise). The Market-Frankford Line's 2nd Street and 5th Street stations are within a 5-minute walk, providing direct access to Center City and regional transit connections. I-95 and I-676 on-ramps are also within minutes of the property. DEMOGRAPHICS Within a 0.25-mile radius, the 2025 median household income is $116,403, with an average household income of $154,087. The immediate population skews young, with approximately 48% of residents aged 15–34. The 1.0-mile trade area supports a projected population of 56,692 with 17.9% growth projected through 2030, driven in part by continued residential conversion of historic buildings and new multifamily development along the Delaware River waterfront. PROPERTY DETAILS Address: 304 Market Street, Unit A, Philadelphia, PA 19106 Property Type: Retail Condominium Zoning: CMX-3 Unit Size: ±1,460 SF Frontage: 22 FT Year Built: Historic (Pre-1900 Mixed-Use Building) Parking: Street Parking; High-Walkability Location Lease Guarantor: MAA Enterprises LLC d/b/a Primo Hoagies Offers should be submitted in the form of a Letter of Intent (LOI) to Blueprint Commercial. All inquiries and property tours should be directed to the listing broker.