494 Nutt RdPhoenixville, PA 19460

Property Details for 494 Nutt Rd

Year built

2009

Lot size

1.06 AC

Property size (Sq ft)

13,038 SF

Zone code

LC

Property type

Other commercial real estate

APN

1512 02420000

APU

151202420000

Description

This exceptional investment opportunity presents a 15,000 square foot Walgreens located in Phoenixville, Pennsylvania, within the Philadelphia MSA. The property, built in 2008, features a mostly-brick construction with high-quality exterior crown molding, offering superior curb appeal and durability compared to typical Walgreens prototypes. Boasting a prominent corner lot location at the intersection of Bridge St. and Nutt Rd., the property benefits from excellent visibility to over 35,000 vehicles daily. The absolute NNN lease with Walgreens, a Fortune 500 company with an S&P credit rating of BBB-, provides significant financial stability, with a remaining lease term of approximately 8.8 years (expiring August 31, 2033). The property's strong performance is reflected in a 7.50% cap rate and a net operating income (NOI) of $498,000, with an asking price of $6,640,000 ($442.67/sq ft). The strategic location near Phoenixville Hospital, two assisted living facilities, and significant upcoming residential developments (Odessa Housing Development and Steelworks Project) ensures continued high demand and strong future growth potential. The property's drive-thru lane further enhances its appeal and profitability in the current market. The affluent community, with an average household income exceeding $136,000 within a 5-mile radius, provides a robust customer base for this essential retail location. This is a rare opportunity to acquire a high-quality, investment-grade net-leased property in a thriving market.

• Alternative Use

  Use

  Valuation

  Residential

  $4,117,915

  Hospitality

  $3,771,988

  Educational

  $3,138,250

  Medical

  $3,246,179

  Retail

  $4,881,722

Location Insight

City

Phoenixville

County

Chester

State

Pennsylvania

Latitude

40.1285

Longitude

-75.5272

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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