2233 Baltimore PikeOxford, PA 19363

Property Details for 2233 Baltimore Pike

Year built

2003

Lot size

2.30 AC

Property size (Sq ft)

15,600 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple, 15,600 square foot retail center anchored by a Walgreens, situated on a 2.3-acre lot in Oxford, Pennsylvania. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $279,473. The Walgreens lease, recently extended through September 1, 2034 (9.8 years remaining), includes built-in rent bumps of 5% every 5 years. In addition to Walgreens, three other tenants occupy a second building on the site, offering a value-add potential with lease expirations in the coming years. Built in 2003, this two-building property enjoys 100% occupancy. The property's strategic location on a highly visible corner of Baltimore Pike, near US Highway 1, benefits from significant traffic flow and proximity to major population centers within the Philadelphia-Camden-Wilmington MSA. The Oxford market is experiencing robust residential growth, with over 350 new homes constructed within two miles. The limited competition from other pharmacies further enhances the investment's appeal. The property is zoned C2, allowing for future commercial, residential, or mixed-use redevelopment possibilities. The asking price is $3,606,103, translating to $231.16 per square foot. Two five-year lease options are available for the Walgreens tenant.

Location Insight

City

Oxford

County

Chester

State

Pennsylvania

Latitude

39.7694

Longitude

-75.9877

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