1501 W Tilghman St - Auto Dealership FOR SALE


Allentown, PA 18102
$2,650,000 USD
818-522-4792
1501 W Tilghman St, Allentown, PA for Sale
$2,650,000 USD
Auto Dealership - FOR SALE
1/2
null | 5.75% Cap Rate

1501 W Tilghman St
Allentown, PA 18102


HIGHLIGHTS

  • NN+ Lease (LL roof & Structure)
  • New Roof w/15 Year Warranty (from 2023)
  • Top 20% Store in Nation & State (Placer.ai)
  • Approx. 10% increases in options
  • Very Low Rent per Square Foot
  • Huge Population (234,000+/- in 5 mile Radius

OVERVIEW

IREA INC., in conjunction with broker of record, Bang Realty-Pennsylvania, Inc. (Licenses: RB068727 & RM432816), is pleased to exclusively present the fee simple interest in a free-standing AutoZone retail store located in Allentown, PA. The 11,705 square foot building (plus large storage basement) was constructed in 1948 as a car dealership and was completely gutted and retrofitted to AutoZone’s specifications in 2009. The oversized building and large lot give the property a dominant presence on Tilghman Street, which benefits from other commercial and retail uses including McDonald’s, Dunkin, Rite Aid, Subway, and many more. The original 2009 lease was just extended for 10 years, with no reduction in the rent (the landlord waived the next two rental increases in exchange for the early extension), which attests to the store’s strong performance. Rental increases in the options are approximately 10% every five years, and the lease is triple net except for landlord roof and structure. The roof has a 15 year warranty from 2023. Placer.ai puts the store in the top 20% of the state and nation.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$92 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

AutoZone - Top 20% Store

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

ADD'L SUBTYPES

Auto Repair, Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

B-3

APN/PARCEL ID

549752012499-1

ASK ABOUT THIS PROPERTY

Chris ThompsonIREA, Inc.More Info
818-522-4792

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Chris ThompsonIREA, Inc.More Info
818-522-4792

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