For Sale
$9,371,670

4109 Frankford AvePhiladelphia, PA 19124

88,642 SF Net Lease, 8.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 88,642 square foot multi-tenant retail property in Philadelphia, PA, currently leased to the Pennsylvania Department of Public Welfare, an A+ rated tenant. The property boasts a strong net lease structure (NN) with approximately 8 years remaining on the lease term, generating a substantial NOI of $796,592 and an 8.50% cap rate. The asking price is $9,371,670, translating to $105.72 per square foot. The Department of Public Welfare, a fixture in the community for nearly 30 years, occupies the space and benefits from a built-in 4.18% rent increase scheduled for July 2026. A significant value-add opportunity exists with a 36,000 square foot vacant building on the 2.63-acre lot, offering potential for increased NOI through additional leasing. The property enjoys excellent visibility on Frankford Avenue (7,144 VPD), proximity to major roadways including I-95 (193,491 VPD) and Torresdale Avenue (12,111 VPD), and convenient access to public transportation via the SEPTA Market-Frankford Line. Ample off-street parking caters to both tenant and customer needs. The location within a dense, growing neighborhood in Northeast Philadelphia, surrounded by numerous national retailers (including Walmart, Lidl, Aldi, and more), ensures strong tenant demand and future growth potential. This is a rare opportunity to acquire a stable, high-performing investment with significant upside potential in a prime Philadelphia location.

Highlights

  • Investment-grade tenant: Pennsylvania Department of Public Welfare (A+ credit rating) occupies the space, ensuring strong and stable NOI.
  • Value-add opportunity: A 36,000 SF vacant building on the 2.63-acre lot offers significant potential for increased NOI through additional leasing; a 4.18% rent increase is scheduled for July 2026.
  • Strong tenancy: The Department of Public Welfare has occupied the property for nearly 30 years.
  • Dense, growing location: Situated in a dense, growing Northeast Philadelphia neighborhood with over 350,000 residents within a 3-mile radius and projected population growth.
  • Ample parking: Offers rare urban amenity of ample off-street parking.
  • Excellent accessibility: High visibility on Frankford Ave (7,144 VPD), proximity to I-95 (193,491 VPD) and Torresdale Ave (12,111 VPD), and convenient access to SEPTA public transportation.

Property Details for 4109 Frankford Ave

Property type
Retail properties
Square Feet
88,642 SF
Lot Size (sq. ft)
114,563 SF

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.007541063072
Longitude
-75.090834554223
4109 Frankford Ave, Philadelphia, Pennsylvania

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4109 Frankford Ave
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