For Sale
$6,640,000

494 Nutt RdPhoenixville, PA 19460

Phoenixville, PA Pharmacy - 7.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 15,000 square foot Walgreens located in Phoenixville, Pennsylvania, within the Philadelphia MSA. The property, built in 2008, features a mostly-brick construction with high-quality exterior crown molding, offering superior curb appeal and durability compared to typical Walgreens prototypes. Boasting a prominent corner lot location at the intersection of Bridge St. and Nutt Rd., the property benefits from excellent visibility to over 35,000 vehicles daily. The absolute NNN lease with Walgreens, a Fortune 500 company with an S&P credit rating of BBB-, provides significant financial stability, with a remaining lease term of approximately 8.8 years (expiring August 31, 2033). The property's strong performance is reflected in a 7.50% cap rate and a net operating income (NOI) of $498,000, with an asking price of $6,640,000 ($442.67/sq ft). The strategic location near Phoenixville Hospital, two assisted living facilities, and significant upcoming residential developments (Odessa Housing Development and Steelworks Project) ensures continued high demand and strong future growth potential. The property's drive-thru lane further enhances its appeal and profitability in the current market. The affluent community, with an average household income exceeding $136,000 within a 5-mile radius, provides a robust customer base for this essential retail location. This is a rare opportunity to acquire a high-quality, investment-grade net-leased property in a thriving market.

Highlights

  • Walgreens located in the Philadelphia MSA, the nation's 6th largest, benefiting from a robust population exceeding 6.2 million and Phoenixville's 8.7% population growth (2020-2021).
  • High-quality, mostly brick construction with enhanced curb appeal, unlike typical stucco prototypes.
  • Close proximity (under 1 mile) to Phoenixville Hospital, the area's sole comprehensive medical facility.
  • Located within 0.3 miles of two assisted living facilities, Episcopal House and French Creek Manor.
  • Excellent visibility from a prominent corner lot on Bridge St. & Nutt Rd., with over 35,000 vehicles passing daily.
  • Serves an affluent community with average household incomes exceeding $136,000 within a 5-mile radius.

Property Details for 494 Nutt Rd

Property type
Retail properties, Drug stores
Square Feet
15,000 SF
Year Built
2008
Buildings
1

Location Insight

City
Phoenixville
County
Chester
State
Pennsylvania
Latitude
40.1284958
Longitude
-75.5271773
494 Nutt Rd, Phoenixville, Pennsylvania

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494 Nutt Rd
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