1043 N Front St - Auto Dealership FOR SALE


Philadelphia, PA 19123
$15,171,000 USD
610-727-3962
1043 N Front St, Philadelphia, PA for Sale
$15,171,000 USD
Auto Dealership - FOR SALE
1/9
null | 6.75% Cap Rate

1043 N Front St
Philadelphia, PA 19123


HIGHLIGHTS

  • Approximately 17 Years Remaining | Options To Extend | Well Known & Established Tenant
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Recent Stock Surge (NYSE: CVNA) | 500% Increase in the Past Year
  • Interstate 95 (174,000 VPD) | Nearby Apartments |Temple University (21,942 Students | Direct Consumer Base
  • Philadelphia Fashion District (Top 90th Percentile, per Placer.Ai) | Strong National/Credit Tenants | Dense Retail Corridor
  • Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes

OVERVIEW

SRS Real Estate Partners-Northeast, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Carvana investment property located in Philadelphia, Pennsylvania. The tenant, Carvana, LLC has approximately 17 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features increases equal to the lesser of (i) 7.92337% or (ii) 1.25x CPI throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$15,171,000 USD

PRICE/SF

$1,274 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carvana | 17yrs Remain Corp Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,000 SF

ZONING

CMX3

APN/PARCEL ID

882970272

ASK ABOUT THIS PROPERTY

David WirthSRS Real Estate PartnersMore Info
610-727-3962

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David WirthSRS Real Estate PartnersMore Info
610-727-3962

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