290 Pottstown AvePennsburg, PA 18073

Property Details for 290 Pottstown Ave

Year built

2005

Lot size

1.91 AC

Property size (Sq ft)

12,870 SF

Zone code

LIC

Property type

Outlet malls

APN

15-00-01879-01-4

APU

150001879014

Description

This exceptional investment opportunity presents a 12,870-square-foot CVS Pharmacy located at 290 Pottstown Avenue, Pennsburg, Pennsylvania, 18073. The property sits on a 1.91-acre lot and is a single-story building constructed in 2006. Currently operating under a Net Lease (NNN) agreement with a corporate guarantee from CVS Health, this investment boasts a strong 13.00% cap rate and a substantial net operating income (NOI) of $491,256. The lease commenced March 1st, 2006, and extends until January 31st, 2031, with ten (10) five-year renewal options. The property enjoys 100% occupancy and benefits from its strategic location on Pottstown Avenue, a major thoroughfare with approximately 11,000 vehicles passing daily. This prime location is surrounded by other national retailers, including Weis Markets, McDonald's, and Burger King. The property is zoned LIC and serves a strong demographic area with 32,948 people within a 5-mile radius and an average household income of $125,665. This is the only major retail drug store within a 7.5-mile radius, minimizing direct competition. The investment is further strengthened by the tenant's investment-grade credit rating (BBB from Standard & Poor's). This is a rare opportunity to acquire a high-performing, low-maintenance, net-leased property with a long-term, secure tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $4,765,004

  6.5%

  $4,398,464

  7%

  $4,084,288

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,162,362

  Geo Method

  $4,237,618

• Alternative Use

  Use

  Valuation

  Residential

  $3,710,270

  Hospitality

  $3,398,587

  Educational

  $2,827,584

  Medical

  $2,924,829

  Retail

  $4,398,464

Location Insight

City

Pennsburg

County

Montgomery

State

Pennsylvania

Latitude

40.3949

Longitude

-75.4994

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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