702 Chester Pike - Drug Store FOR SALE


Prospect Park, PA 19076
$3,542,000 USD
619-297-0055
702 Chester Pike, Prospect Park, PA for Sale
$3,542,000 USD
Drug Store - FOR SALE
1/3
null | 6.25% Cap Rate

702 Chester Pike
Prospect Park, PA 19076


HIGHLIGHTS

  • This CVS lease has over 12 years guaranteed rent before the next option with no rent holiday.
  • Located on Chester Pike / U.S. Route 13 which is a main commercial thoroughfare running south from Philadelphia to Northern Delaware.
  • CVS has been operating at this location for 25 years and in 2018 committed to a 20-year extension, showing their commitment to this site.
  • Approximately 120,000 residents within a 3-mile radius and average household incomes of over $92,000.
  • Interboro High School, with over 1,000 students, is located approximately one mile north of the property.

OVERVIEW

We are pleased to offer for sale the CVS Pharmacy property located at 702 Chester Pike, Prospect Park, PA 19076 (the "Property"). This offering provides a secure, passive investment opportunity featuring an absolute triple-net (NNN) lease with zero landlord responsibilities. CVS has operated at this location for over 25 years and committed to a 20 year extension in 2018 with a firm term through January 31, 2038. The Property is located within the Philadelphia metropolitan Statistical area (MSA), benefiting from a dense population base of approximately 300,000 residents within a five-mile radius. The Property sits along Chester Pike (U.S. Route 13) and is located 1.5 miles from Interstate 95, a major regional highway carrying over 156,000 vehicles per day. Listed in conjunction with Brian Brockman, Bang Realty - Pennsylvania Inc, 513-898-1551, wg@bangrealty.com, PA DRE Lic. RM423816.

FOR SALE DETAILS

PRICE

$3,542,000 USD

PRICE/SF

$349 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

±13 Yr CVS No Rent Holiday Infill Philly

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

-

APN/PARCEL ID

33-00-00084-00

ASK ABOUT THIS PROPERTY

Chris BarryPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Chris BarryPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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