314 E Lancaster Ave - Freestanding FOR SALE


Wayne, PA 19087
$8,784,000 USD
215-603-6914
314 E Lancaster Ave, Wayne, PA for Sale
$8,784,000 USD
Freestanding - FOR SALE
1/8
null | 6.5% Cap Rate

314 E Lancaster Ave
Wayne, PA 19087


HIGHLIGHTS

  • The property includes CVS Pharmacy and Verizon on a 0.62-acre parcel in Wayne, PA, sold together but with separate leases.
  • CVS operates under a corporate-guaranteed, true NNN lease recently extended through 2035, showing long-term commitment.
  • Verizon, operated by Cellular Sales of PA, has a NN lease with scheduled rent increases and limited landlord responsibilities.
  • The asset is located in an affluent, supply-constrained Main Line market with average household income exceeding $226K within 3 miles.
  • The site offers prime frontage on Lancaster Avenue with 26,846 VPD and immediate access to I-476 carrying 120,000+ VPD.
  • Surrounded by national retailers, transit options, and dense housing, the location ensures strong demand and tenant replacement potential.

OVERVIEW

CBRE is pleased to exclusively present for sale the CVS Pharmacy and Verizon Wireless at 314–318 E Lancaster Avenue in Wayne, Pennsylvania. This two-tenant asset features separate long-term leases on a single parcel, offering investors a secure and diversified income stream. CVS operates under a corporate-guaranteed NNN lease that was recently extended through 2035, reflecting long-term commitment to this high-performing location. Verizon, operated by Cellular Sales of Pennsylvania, LLC—a leading national retailer for the brand—occupies a highly visible storefront under a NN lease with scheduled rental increases, contributing to durable and growing cash flow.

FOR SALE DETAILS

PRICE

$8,784,000 USD

PRICE/SF

$3,046 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy & Verizon

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,104 SF

ZONING

-

APN/PARCEL ID

36-03-01684-00

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 Notice.