245 Wilkes Barre Township Blvd - Supermarket FOR SALE


Wilkes Barre, PA 18702
$12,850,000 USD
484-567-2340
245 Wilkes Barre Township Blvd, Wilkes Barre, PA for Sale
$12,850,000 USD
Supermarket - FOR SALE
1/4
null | 7% Cap Rate

245 Wilkes Barre Township Blvd
Wilkes Barre, PA 18702


HIGHLIGHTS

  • Price Chopper is the third largest grocery chain in Luzerne county with 3 stores and a combined $81.9 million in sales equating to 8.20% market share
  • Easy access to residential population especially in the “Back Mountain” area north of the Susquehanna with a population of 45,000+
  • Price Chopper has 9.8 years remaining on a 25-year absolute NNN lease with one option of four years and eleven months
  • Tenure of more than 15-years proves the tenant’s commitment to location
  • The Golub Corporation guaranteed lease
  • Subsidiary of parent company Northeast Grocery Inc. with a credit rating of B+ (Fitch)

OVERVIEW

CBRE’s National Retail Partners are pleased to offer for sale Price Chopper, a 64,252 SF grocer located in Wilkes-Barre Township, Luzerne County, PA. The Absolute NNN Lease results in zero landlord responsibilities and a Golub Corporation guaranty. The Property is located in the premier retail corridor of Luzerne County and is surrounded by a multitude of national tenants, driving foot traffic of over 10 million people to the immediate area. The Property boasts almost 300 feet of frontage along Wilkes-Barre Township Blvd (10,700 VPD) and immediate access to the I-81 interchange (58,240 VPD). This is an opportunity for an investor to own a highly popular grocer within Luzerne County’s preeminent retail corridor.

FOR SALE DETAILS

PRICE

$12,850,000 USD

PRICE/SF

$220 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Price Chopper

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

284

LAND DETAILS

LAND ACRES

9.16 AC

LAND SF

399,010 SF

ZONING

D2

APN/PARCEL ID

69-H10-00A-18T-000

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
484-567-2340

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Matthew GormanCBRE, Inc.More Info
484-567-2340

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