AutoZone - Top 20% Store 1501 W Tilghman St 11,705 SF Retail Building Allentown, PA 18102 $2,540,000 ($217.00/SF) 6% Cap Rate

IREA INC., in conjunction with broker of record, Bang Realty-Pennsylvania, Inc. (Licenses: RB068727 & RM432816), is pleased to exclusively present the fee simple interest in a free-standing AutoZone retail store located in Allentown, PA. The 11,705 square foot building (plus large storage basement) was constructed in 1948 as a car dealership and was completely gutted and retrofitted to AutoZone’s specifications in 2009.
The oversized building and large lot give the property a dominant presence on Tilghman Street, which benefits from other commercial and retail uses including McDonald’s, Dunkin, Rite Aid, Subway, and many more. The original 2009 lease was just extended for 10 years, with no reduction in the rent (the landlord waived the next two rental increases in exchange for the early extension), which attests to the store’s strong performance. Rental increases in the options are approximately 10% every five years, and the lease is triple net except for landlord roof and structure. The roof has a 15 year warranty from 2023.
Placer.ai puts the store in the top 20% of the state and nation.