3611 Easton RdDoylestown, PA 18902

Property Details for 3611 Easton Rd

Year built

1997

Lot size

1.26 AC

Property size (Sq ft)

3,032 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents the fee simple interest in a thriving Global Gas station and convenience store located at a signalized intersection in Doylestown, Pennsylvania, within the Philadelphia MSA. The property, built in 1997, encompasses 3,032 square feet on a 1.26-acre lot and boasts a 100% occupancy rate under a triple-net (NNN) lease with Global Gas, a subsidiary of Global Partners LP (NYSE: GLP), a leading Northeast energy company. The current lease, with a remaining term of 5.7 years, expires August 17, 2030, and includes three (3) five (5) year renewal options with annual rent bumps of 1.5%. The property generates a substantial net operating income (NOI) of $247,254, resulting in a compelling 6.00% cap rate. The tenant benefits from a strong corporate guarantee and enjoys high visibility due to its location on a major intersection with high daily traffic volume (N Easton Rd: 8,900 VPD

Location Insight

City

Doylestown

County

Bucks

State

Pennsylvania

Latitude

40.3285

Longitude

-75.1291

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