400 W Street Rd - Service Station FOR SALE


Warminster, PA 18974
$1,950,871 USD
215-531-7025
400 W Street Rd, Warminster, PA for Sale
$1,950,871 USD
Service Station - FOR SALE
1/7
null | 5.5% Cap Rate

400 W Street Rd
Warminster, PA 18974


HIGHLIGHTS

  • Absolute NNN Fee Simple Ownership
  • Experienced operator with 5+ lease term remaining

OVERVIEW

ABSOLUTE NNN | FEE SIMPLE OWNERSHIP | BONUS DEPRECIATION ELIGIBLE • No Landlord responsibilities • Ideal, management-free investment for a passive investor • Contact broker for bonus depreciation proforma EXPERIENCED OPERATOR WITH 5+ YEARS OF LEASE TERM | SCHEDULED RENTAL INCREASES ESTABLISHED BRAND • The tenant (Global Partners, LP) has over 5 years of term remaining & 3, 5-year options to extend, demonstrating their long-term commitment to the site • The lease features 1.5% rental increases annually during the initial term and throughout each option period, growing NOI and hedging against inflation • The lease is backed by Global Partners LP, a leading energy supply company that secured a spot at 361 on the 2018 Fortune 500 list. Global Partners LP is a publicly traded company (NYSE: GLP) with a B+ credit rating from Standard & Poor’s. LARGE SITE – BELOW MARKET RENT • Large 1.26 Acre with full unrestricted access • Below market ground lease • Ground Lease Rent Comps exceed $120k per year. DENSE AFFLUENT RETAIL CORRIDOR | STRONG NATIONAL/CREDIT TENANT PRESENCE • Heavily trafficked location with subject property seeing over 32k vehicles per day • Average Household Income of over $95,000 in 1 mile radius, $107,000 in 3 mile radius • Subject is located along a primary retail corridor, proximal to Center Point Place, featuring national tenants in Giant, Ashely Furniture, & Kohl’s

FOR SALE DETAILS

PRICE

$1,950,871 USD

PRICE/SF

$1,806 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

55,060 SF

ZONING

49C

APN/PARCEL ID

49-019-234

ASK ABOUT THIS PROPERTY

Steve GarthwaiteBennett Realty & DevelopmentMore Info
215-531-7025

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Steve GarthwaiteBennett Realty & DevelopmentMore Info
215-531-7025

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