2700 W Girard Ave,PHILADELPHIA, PA 19130
PHILADELPHIA, PA 19130
Description
8,000 SF. CMX25 building, 100% Leased Retail Building located in Brewerytown, ($256.02/SF) 7.50% Cap Rate. Brewerytown is a rapidly developing neighborhood of North Philadelphia. The Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance. Fulton Bank has more than 5 years remaining on a NNN* lease and ownership recently executed a new, 7-year lease with one five-year renewal - with significant rent increases during the initial term and annual increases in the option period - with a dance studio tenant for the second floor space. INVESTMENT GRADE CREDIT TENANTHeadquartered in Lancaster, PA, Fulton Bank is a publicly traded (NASDAQ: FULT), investment grade credit rated tenant with a Baa2 rating from Moody’s and over $26B in total assets. More than 50% of Fulton's location footprint is in the Greater Philadelphia area and they have targeted Philadelphia as a significant growth market. RETAIL CORRIDOR - Girard Avenue is quickly becoming a main retail corridor with numerous restaurants and shops between 26th and 30th streets in addition to surrounding national retailers like ALDI, Fine Wine & Good Spirits, Dollar Tree and Boost Mobile. More information and brochure available upon request. Fulton Bank Pro-Rata Share of Taxes, Insurance and CAM = 60%
Details
| MLS # | PAPH2461266 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1925 |
| Days On Site | 92 |
| Listing Provided By | BHHS Fox & Roach-Chestnut Hill | Mark L Malfara |
Features
| Zoning | CMX25 |
|---|---|
| Acreage | 0.09 |
| Water Front | Yes |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Forced Air |
Exterior
| Construction Materials | Masonry |
|---|
Parking
| Garage Yes / No | No |
|---|
Market Activity 19130
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19130 |
| Area | 19130 (19130) |
| Community Name | BREWERYTOWN |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in BREWERYTOWN) | |
Price: $2,048,140 low | high Med: $224,500 On site: 92 low | high Med: 104.000000 | |
