1500-1531 Main St - Retail FOR SALE


Peckville, PA 18452
$8,766,275 USD
443-632-2044
1500-1531 Main St, Peckville, PA for Sale
$8,766,275 USD
Retail - FOR SALE
1/8
null | 8% Cap Rate

1500-1531 Main St
Peckville, PA 18452


HIGHLIGHTS

  • 100% occupied with anchor tenants Planet Fitness, Dollar General, Ace Hardware and Fine Wine & Good Spirits (Pennsylvania Liquor Control Board) totali
  • High performing Planet Fitness in occupancy since 2009 and in the top 74% of Pennsylvania locations according to Placer.Ai and recent 5 year early ren
  • Recent façade refresh for Planet Fitness and Ace Hardware, which joined the center in 2022 on a 10-year lease
  • Weighted average occupancy of 16+ years with majority of tenants historically exercising renewal options
  • Diverse mix of medical and food & beverage uses including Northeastern Eye Institute, Health Network Laboratories, Domino’s and Subway
  • High demand retail market with 97.6% occupancy rate over 42M SF of retail product

OVERVIEW

KLNB Retail Capital Markets is pleased to announce for sale the fee simple interest in Peckville Shopping Center, a 60,506 SF neighborhood center in Peckville, Pennsylvania or Lackawanna County – approximately 6 miles northeast of Scranton, Pennsylvania. 100% occupied by a diverse tenant mix of national and regional retailers, the asset is anchored by Planet Fitness, Dollar General Ace Hardware, and Fine Wine & Spirits (run by the Pennsylvania Liquor Control Board) – providing local and regional draw to the center. Planet Fitness, which has anchored the Center since 2009 is a top 74% location for the brand in the Pennsylvania, according to Placer. Ai, has a rare corporate guaranty, and contributes 46% of base rent while comprising 32% of the GLA. In addition, Dollar General just took a 5 year option early demonstrating their long-term commitment to the Center and submarket.

FOR SALE DETAILS

PRICE

$8,766,275 USD

PRICE/SF

$145 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Peckville Shopping Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

SPRINKLERS

-

PARKING SPACES

233

LAND DETAILS

LAND ACRES

6.2 AC

LAND SF

270,072 SF

ZONING

-

APN/PARCEL ID

10318060017

ASK ABOUT THIS PROPERTY

443-632-2044

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443-632-2044

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