7001 Frankford AvePhiladelphia, PA 19135
- Retail properties
- 0.26 AC
Property Details for 7001 Frankford Ave
- Lot size
- 0.26 AC
- Zone code
- CMX2.5
- Property type
- Retail properties
- Property subtype
- Parking lots & garages
- APN
- 88-5-7379-80
- APU
- 885737980
Description
This exceptional investment opportunity presents a fee-simple ownership of a 13,825 square foot Walgreens located at 7001 Frankford Ave, Philadelphia, PA 19135. The property sits on a 0.91-acre lot and boasts a strong 8.10% cap rate, generating a net operating income (NOI) of $452,000. The property features a long-term, net lease with a national investment-grade tenant, Walgreens, with a remaining lease term of 5 years and eight 5-year renewal options, extending the lease to a potential total of 45 years. Built in 1999, this single-tenant retail property benefits from a flat rent structure (subject to percentage rents) and 100% occupancy. The asking price is $5,580,250, translating to a price per square foot of $403.63. The property's strategic location in a densely populated Philadelphia neighborhood ensures consistent high traffic and visibility. This is a passive investment with minimal landlord responsibilities, offering a compelling return on investment in a recession-resistant industry. The lease commenced on November 29, 1999, and expires on November 29, 2029. This property is an ideal addition to any portfolio seeking stable, long-term income generation.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,067,262
- 6.5%
- $2,831,318
- 7%
- $2,629,081
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,727,260
- Geo Method
- $3,727,260
-
Alternative Use
- Use
- Valuation
- Residential
- $2,388,323
- Hospitality
- $2,187,691
- Educational
- $1,820,133
- Medical
- $1,882,730
- Retail
- $2,831,318
Location Insight
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Latitude
- 40.0336
- Longitude
- -75.0463
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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