651 Airport RdHazle Township, PA 18202

Property Details for 651 Airport Rd

Year built

2016

Lot size

12.21 AC

Property size (Sq ft)

48,804 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 48,804 square foot auto dealership in Hazle Township, Pennsylvania, situated on a 12.21-acre lot at 651 Airport Rd, 18202. The property, built in 2016, is currently operating at 100% occupancy under a Net Lease (NNN) agreement with a 20-year term remaining. The lease features a 2% annual rent increase, projecting a 49% rent increase over the initial lease term. Furthermore, four 5-year renewal options exist, potentially leading to a 121% rental increase over a 40-year period. The current Net Operating Income (NOI) stands at $1,200,000, yielding an attractive 7.25% capitalization rate. The asking price is $16,551,724. The tenant, Timbrook Management, operates multiple brand-name dealerships across Pennsylvania, Maryland, and West Virginia, providing a strong corporate guarantee. This NNN sale-leaseback transaction offers a secure, long-term investment with substantial built-in rental growth potential. The property's prime location and strong tenant history make it an ideal addition to any diversified investment portfolio.

Location Insight

City

Hazle Township

County

Luzerne

State

Pennsylvania

Latitude

40.9886

Longitude

-76.0078

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