1620 Mount Hope AvePottsville, PA 17901

Property Details for 1620 Mount Hope Ave

Year built

1999

Lot size

0.33 AC

Property size (Sq ft)

4,200 SF

Property type

Healthcare properties

Property subtype

Other retail properties

Description

This fee-simple medical office building presents a compelling investment opportunity. Located at 1620 Mt Hope Ave, Pottsville, PA 17901, this 4,200 square foot property boasts a strong 8.25% cap rate and a 7.1-year lease with Spark Orthodontics, a dental support organization with approximately 50 locations. The lease commenced December 29, 2021, and expires December 28, 2031, featuring a 100% occupancy rate and 3% annual rent increases, providing a hedge against inflation. The building, constructed in 1999 and renovated in 2016, sits on a 0.33-acre lot and is situated near local schools. The current net operating income (NOI) is $65,564, with an asking price of $794,711 ($189 per square foot). The property is a single-tenant, net lease (NNN) investment, offering minimal landlord responsibilities. Lease options include 1 and 5-year extensions. This is an ideal property for investors seeking a passive income stream in a recession-resistant sector, benefiting from the stability of a long-term lease with a well-established tenant in a growing industry. The tenant's current rent is below the average for orthodontic practices, offering potential for future appreciation. This property is a strong addition to any diversified portfolio.

Location Insight

City

Pottsville

County

Schuylkill

State

Pennsylvania

Latitude

40.6854

Longitude

-76.2178

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