801 48Th StPhiladelphia, PA 19139

Property Details for 801 48Th St

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.72 AC

Property size (Sq ft)

26,988 SF

Zone code

CA2

Property type

Retail properties

Property subtype

Retail space

APN

88-2-1123-00

APU

882112300

Description

This 34,205 square foot shopping center in Philadelphia, PA, presents a compelling investment opportunity. Located at 801-807 & 809-843 North 48th Street, this single-story, 1980-built property boasts a 100% occupancy rate with three tenants, including Dollar General (lease extending to 2047 with options), Brightside Academy, and Resources for Human Development. The property features 70 parking spaces and sits on a 74,740 square foot lot, zoned CA-2. Currently generating a NOI of $346,056, with a pro-forma NOI of $371,355, this stabilized investment offers a 7.5% cap rate and a pro-forma cap rate of 8.05%. The asking price is $4,615,000, translating to $134.92 per square foot. The triple-net (NN+) leases provide a strong, corporate-guaranteed tenant base. The property benefits from its location in a Federal Opportunity Zone near major universities, promising significant long-term growth potential. Lease terms include options for rent bumps, with potential increases of $14,500, $15,500, or $17,000. This is a rare chance to acquire a well-positioned, high-performing retail asset in a rapidly developing area. The property's strategic location near Drexel University, the University of Pennsylvania, and the University of the Sciences ensures consistent demand and future appreciation. The current lease terms, coupled with the potential for rent increases, provide a secure and lucrative investment with substantial upside. The property's size and location offer potential for future development, further enhancing its long-term value.

• CAP approach

  CAP return

  Valuation

  6%

  $11,171,059

  6.5%

  $10,311,746

  7%

  $9,575,193

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,886,155

  Geo Method

  $8,886,155

• Alternative Use

  Use

  Valuation

  Residential

  $8,698,344

  Hospitality

  $7,967,636

  Educational

  $6,628,980

  Medical

  $6,856,960

  Retail

  $10,311,746

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.967

Longitude

-75.2161

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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