400 Street RdWarminster, PA 18974

Property Details for 400 Street Rd

Year built

1990

Lot size

1.26 AC

Property size (Sq ft)

1,080 SF

Zone code

C

Property type

Gas stations

APN

49-019-234

APU

49019234

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,360-square-foot Shell-branded convenience store and car wash situated on a 1.26-acre lot in Warminster, Pennsylvania. The property boasts a prime location on West Street Road, experiencing over 32,000 vehicles per day, and benefits from a strong demographic profile with average household incomes exceeding $107,000 within a three-mile radius. The property features 11 parking spaces and is zoned C-1 Commercial. Built in 1990, this asset is currently operating at 100% occupancy under an absolute triple-net (NNN) lease with Global Partners LP, a Fortune 500 company (NYSE: GLP) with a B+ credit rating from Standard & Poor's. The lease, commenced August 17, 2020, has a remaining term of approximately 5.7 years, with three five-year renewal options. The lease includes annual rent increases of 1.5%, providing inflation protection and growing net operating income (NOI). The current NOI is $107,298, resulting in a 5.50% capitalization rate based on the asking price of $1,950,871. The property's strategic location along a major retail corridor, near prominent national retailers like Giant, Ashley Furniture, and Kohl's, further enhances its investment appeal. Global Partners LP's robust financial performance, with Q2 2024 total sales exceeding $4.4 billion, underscores the tenant's stability and long-term commitment to this location. This offering presents a rare opportunity to acquire a high-quality, low-risk, net-leased retail investment with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $262,478

  6.5%

  $242,287

  7%

  $224,981

• Comparable approach

  Method

  Valuation

  Relative Method

  $355,604

  Geo Method

  $355,604

• Alternative Use

  Use

  Valuation

  Residential

  $204,378

  Hospitality

  $187,209

  Educational

  $155,756

  Medical

  $161,113

  Retail

  $242,287

Location Insight

City

Warminster

County

Bucks

State

Pennsylvania

Latitude

40.2017

Longitude

-75.0921

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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