235 Chelten AvePhiladelphia, PA 19144

Property Details for 235 Chelten Ave

Year built

1985

Lot size

0.51 AC

Property size (Sq ft)

15,289 SF

Property type

Retail properties

Property subtype

Office properties

Description

This exceptional investment opportunity presents a 15,289 square-foot, single-tenant retail property leased to DaVita Dialysis, a Fortune 500 company. Located at 235 W Chelten Ave, Philadelphia, PA 19144, this property boasts a 13.1-year remaining lease term (expiring 12/31/2037) with three 5-year options, and includes annual 1% rent escalations. The lease is a NNN (triple net) structure, meaning the tenant is responsible for most operating expenses, including property taxes, insurance, and repairs. The landlord's responsibility is limited to building structure, parking lot replacement, and roof replacement; a new roof with a 15-year transferable warranty was installed in 2024. The property sits on a 0.51-acre lot and benefits from high visibility on West Chelten Avenue, with over 10,300 vehicles passing daily. The strong tenant, DaVita, Inc., provides a corporate guarantee, mitigating risk. The property's Net Operating Income (NOI) is $194,183, resulting in a 7.00% capitalization rate. The asking price is $2,774,000 ($181.44 per square foot). This investment offers a secure, long-term income stream in a densely populated area with an average household income exceeding $79,000 within a 5-mile radius. Proximity to major medical centers and national retailers further enhances the property's value. The property is conveniently located near SEPTA's Chestnut Hill West Line.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0308

Longitude

-75.1799

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