This property is Off-Market
63 South White Street
Brookville, PA 15825 ·
2,400 SF · Retail For Sale
Lehigh Gas Station and Convenience Store
|Price||N/A||Property Use Type||Net Lease Investment with 10+ years left on lease|
|Building Size||2,400 SF||Cap Rate||7.50%|
|Property Sub-type||Service/Gas Station||Lot Size||17,264 SF|
|Listing ID: 17686542||Date Created: 05/31/2012||Last Updated: 08/06/2014|
This investment is a convenience store and a gas station with an absolute NNN lease where tenant pays all expenses. The 20-year NNN lease (and rent) commenced in July of 2006 and there are 15 years remaining. There is one 5-year option and one 4-year option after the expiration of the initial term.
The property has an initial cap rate of 7.50% and absolutely no landlord responsibilities. The lease includes rent increases of 4% every year through 2011, at which time the rental increases change to 2% annually. The building was built in 1987 and is comprised of a 2,400 square foot building on a 17,264 square feet parcel of land.
This Lehigh Gas Corp. Gas Station and Convenience Store is located on South White Street between Summit Street and Parochial Street in Brookville, PA. South White Street is also known as State Highway 36. The intersection with State Highway 28 (Main Street) is closeby. As a result of the excellent location on this major commercial thoroughfare, the traffic count in the immediate area on State Highway is over 10,000 vehicles per day.
The Subject is located near many local retail tenants. National tenants within a one mile radius include Dollar General, Sunoco, AAA Insurance, Ace Hardware, Arby's, McDonald's, Giant Eagles, Goodwill, and more.
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