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Listed by Mark L Malfara • BHHS Fox & Roach-Chestnut Hill
$2,048,140
Est. payment /mo
8,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $256
Subdivision Brewerytown
MLS Listing ID PAPH2461266
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $7,921
Tax Year 2025
Lot Size 4,000 Sqft
Acres 0.09
Lot Dimensions 40.00 x 100.00
Property Sub-Type Other
Property 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 TENANT
Headquartered 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%
Headquartered 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%
Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning CMX25
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility Other
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 882935925
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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