532 Hazle StWilkes-Barre, PA 18702

Property Details for 532 Hazle St

Lot size

0.22 AC

Property size (Sq ft)

2,000 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Fuel On gas station located at 532 Hazle St, Wilkes-Barre, Pennsylvania, 18702. The property boasts a 2,000 square foot building situated on a 0.22-acre lot in a high-traffic area with over 17,000 vehicles passing daily. Currently operating under a 20-year absolute NNN lease with a reputable, growing operator of 36 units, this investment offers significant financial stability. The lease includes annual rent bumps of 2.5%, providing protection against inflation. The tenant is responsible for all property maintenance, insurance, and taxes, creating a truly passive investment for the owner. The asking price is $2,084,963, representing a price per square foot of $1,042.48 and an attractive 8.00% cap rate based on a current Net Operating Income (NOI) of $166,797. The lease features four 5-year renewal options, further enhancing the long-term value of this asset. Comprehensive financial records, including trailing three years of site-level financials and corporate financials, are available for review. This property also qualifies for bonus depreciation (60% in Year 1), offering significant tax advantages. This is a rare opportunity to acquire a stable, high-performing, and low-maintenance commercial property with substantial long-term growth potential.

Location Insight

City

Wilkes-Barre

County

Luzerne

State

Pennsylvania

Latitude

41.2266

Longitude

-75.8934

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