938 Old York Rd - Medical FOR SALE


Abington, PA 19001
$3,000,000 USD
215-568-2600
938 Old York Rd, Abington, PA for Sale
$3,000,000 USD
Medical - FOR SALE
1/5
null | 5.6% Cap Rate

938 Old York Rd
Abington, PA 19001


HIGHLIGHTS

  • Single-Tenant Patient First located in the heart of Abington, PA, just a 20-minute drive from Philadelphia.
  • Regional tenant with over 78 locations, the second-largest urgent care provider in NJ/PA/MD.
  • 9 years of term remaining on a triple-net ground lease with no landlord responsibilities.
  • Located along Old York Road with 28,320 vehicles per day (VPD), a highly trafficked retail and service corridor.
  • Positioned in a strong retail and service corridor, across from prominent retail centers including a Whole Foods-anchored center, PetSmart, and Trader
  • Extremely strong demographics, with 110,896 residents and an average household income of approximately $148,098 within a 3-mile radius.

OVERVIEW

MSC is proud to present a single-tenant, triple-net ground lease with Patient First, located in Abington Township, Montgomery County, Pennsylvania. Patient First occupies a 7,791 square foot building, constructed in 2014. Currently, there are 9 years remaining on the original term, featuring 2% annual base rent increases. The lease includes 10 additional 5-year renewal options, potentially extending the lease for the next 50 years. The property is situated on Old York Road (28,320 VPD), in the heart of the dense and affluent submarket of Abington, PA. Old York Road is a highly prominent and heavily trafficked commercial corridor. This area is densely populated with over 1 million square feet of retail space, hosting national tenants such as Whole Foods, Trader Joe's, PetSmart, Acme, and many others. The property's location and visibility have established Abington as a sought-after bedroom community for affluent professionals working in the greater Philadelphia area. Within a three-mile radius of the property, there are 110,896 residents with an average household income of $148,098. This robust demographic profile has fueled strong demand from national tenants along Old York Road, making this market highly desirable for retailers and service providers.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$385 USD /SF

CAP RATE

5.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Patient First

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

F1

APN/PARCEL ID

30-00-49304-004

ASK ABOUT THIS PROPERTY

215-568-2600

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215-568-2600

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