2700-2702 W Girard Ave - Bank FOR SALE


Philadelphia, PA 19130
$2,048,140 USD
215-603-6914
2700-2702 W Girard Ave, Philadelphia, PA for Sale
$2,048,140 USD
Bank - FOR SALE
1/14
null | 7.5% Cap Rate

2700-2702 W Girard Ave
Philadelphia, PA 19130


HIGHLIGHTS

  • Fulton Bank (NASDAQ: FULT) is an investment grade tenant with over $26B in total assets, more than 50% of Fulton's footprint is in Greater Phila
  • Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance.
  • 100% occupied property with both tenants having 5+ years of lease term remaining with multiple renewal options
  • Corner location on West Girard Avenue and is easily accessible on foot, by car (over 6,500 vehicles per day), or public transportation
  • Property is adjacent to multiple large-mixed use developments and surrounding Brewerytown submarket is rapidly developing
  • Extremely dense, infill Philadelphia location with 54,483 people within 1 mile, 505,356 people within 3 miles and 1,082,000 people within 5 miles

OVERVIEW

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 8,000 square foot Fulton Bank property located in Brewerytown, 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.

FOR SALE DETAILS

PRICE

$2,048,140 USD

PRICE/SF

$256 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fulton Bank/Dance Studio

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Storefront Retail/Office, Health Club

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,000 SF

ZONING

C2

APN/PARCEL ID

882935925

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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

Matthew GormanCBRE, Inc.More Info
215-603-6914

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