For Sale
$2,100,000

502 Basin StAllentown, PA 18103

High-yield, NNN leased auto shop.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 9,745 square-foot auto shop located at 502 Basin St, Allentown, PA 18103. The property, built in 1979 and situated on a 0.75-acre lot, boasts a strong 6.57% cap rate and a substantial net operating income (NOI) of $138,010. Currently 100% occupied by Stonewall Collision, a reputable auto repair business with multiple locations, the property is under an absolute NNN lease with over 16.6 years remaining until June 29, 2041. The lease includes 2% annual rent bumps commencing in 2027 and a single 5-year renewal option. The asking price is $2,100,000, translating to a price per square foot of $215.50. The property benefits from a prime location, enjoying high traffic counts on Basin Road (24,609 VPD) and proximity to Highway 145 (15,975 VPD), as well as a thriving retail corridor featuring national brands like Wawa, Jiffy Lube, and McDonald's. The surrounding area showcases a strong demographic profile, with an average household income exceeding $77,000 within a five-mile radius. Furthermore, the property's proximity to Downtown Allentown (population 125,094) and Lehigh Valley International Airport (serving nearly one million passengers annually) enhances its appeal. This is a rare opportunity to acquire a stable, high-performing asset in a desirable location with significant long-term growth potential.

Highlights

  • High traffic counts: 24,609 VPD on Basin Road, 1/3 mile from Highway 145 (15,975 VPD).
  • Excellent location near Fourth Street retail corridor and Downtown Allentown; nearby national retailers include Wawa, Jiffy Lube, McDonald's, and others.
  • Strong demographics: Average household income over $77,000 within a five-mile radius.
  • Proximity to numerous parks and recreational facilities, including Canal Park and Lehigh Mountain Park.
  • Less than one mile from Downtown Allentown (population 125,094).
  • Tenant, Stonewall Collision, is a reputable auto repair business with multiple locations.

Property Details for 502 Basin St

Property type
Retail properties, Auto shops
Square Feet
9,745 SF
Year Built
1979
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Allentown
County
Lehigh
State
Pennsylvania
Latitude
40.5978448
Longitude
-75.4584829
502 Basin St, Allentown, Pennsylvania

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502 Basin St
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