290 Pottstown AvePennsburg, PA 18073

  • Retail properties
  • 12,870 SF
For Sale
$3,778,892 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
290 Pottstown Ave, Pennsburg, Pennsylvania

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$39,390
-
-
$965,550
-
-
-
$965,550

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