1440-1448 Bethlehem Pike
Flourtown, PA 19031
PA Fine Wine & Good Spirits Anchored Center · Retail Property For Sale

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a Pennsylvania Fine Wine & Good Spirits anchored 20,731 SF strip center, (the “Property”) in Flourtown, PA a charming suburb located in Montgomery County, just 10 miles northwest of Philadelphia and part of the Philadelphia MSA. Pennsylvania Fine Wine & Good Spirits, which leases 58% of the building and represents 66% of the rent, has been the anchor Tenant since the strip was built in 2004, demonstrating their commitment to the property. Walgreens’ Mid-Atlantic area office is on the second floor of the shopping center, and they have been there since the building was built. Additionally, Queen Chinese Restaurant has been a Tenant for over 15 years, since they opened in 2009, and just signed a 5-year lease renewal extending their term to 2030. The investment-grade credit Pennsylvania Fine Wine & Good Spirits’ lease and amendments are signed by the Commonwealth of Pennsylvania, which Moody’s just upgraded in October of 2024 from Aa3 to Aa2, citing the Commonwealth’s sound fiscal management, balanced budgets and steady economic growth. This Wine and Spirits location
ranks in the top 97% of all Wine and Spirits location, 16th in the State of Pennsylvania out of 591, totaling $14,769,000 in sales, which equates to a minuscular rent to sales ratio of 2.6%, demonstrating the strength of the location and the potential future rental upside. The strip center sits along Bethlehem Pike, the main thoroughfare which is home to 20,700 vehicles per day.
The 1-mile area surrounding the property boast excellent, affluent populations as the average household income within 1-mile is $170,000 and within 3-miles it is $150,000. The Philadelphia MSA is the 8th most populated metro area in the United States, home to over 6,241,000 residents as well as some of the nation’s top universities and numerous Fortune 500 companies.
PLCB ANCHOR IS AN INVESTMENT-GRADE CREDIT TENANT – Pennsylvania Fine Wine & Good Spirits has been an anchor Tenant of the strip center since it was built in 2004. Their Lease and Amendments are signed by the Commonwealth of Pennsylvania, which Moody’s just upgraded in October of 2024 from Aa3 to Aa2, citing the Commonwealth’s sound fiscal management, balanced budgets and steady economic growth.
TOP 97% SALES PERFORMER (16TH OUT OF 591) IN THE STATE – The 2017-2018 Annual Report was the first year where the Commonwealth of Pennsylvania broke down each Wine & Spirits location by sales. Since then, the Flourtown location has ranked in the top 20 in the State of Pennsylvania each year, most recently ranking 16th for the 2022 – 2023 fiscal year, totaling $14,769,000 in sales.
EXTREMELY LOW RENT TO SALES RATIO (2.6%) – Wine and Spirits’ gross rent of $389,400, combined with their most recent reported sales of $14.7M allow for a minuscular rent to sales ratio of 2.6%, demonstrating the strength of the location and the potential future rental upside.
DENSELY POPULATED, AFFLUENT AREA – The 1-mile area surrounding the property boast excellent, affluent populations as the average household income within 1-mile is $170,000 and within 3-miles it is $150,000.
PHILADELPHIA MSA – Flourtown is a charming suburb located in Montgomery County, just 10 miles northwest of Philadelphia and part of the Philadelphia MSA. The Philadelphia MSA is the 8th most populated metro area in the United States, home to over 6,241,000 residents as well as some of the nation’s top universities and numerous Fortune 500 companies.
WEIGHTED AVERAGE TENURE OF 18+ YEARS – Both Pennsylvania Fine Wine & Good Spirits and Walgreens have been Tenants at the strip center since it was built in 2004, demonstrating their commitment to the property. Additionally, Queen Chinese has been a Tenant for over 15 years, since they opened in 2009.
LACK OF FUTURE POTENTIAL RELOCATION OPTIONS FOR PLCB – The shopping centers within close proximity to the subject property both have grocery store anchors (GIANT and ACME) who both sell beer and wine, limiting potential relocation options in the future for PA Fine Wine & Good Spirits.