198 W Main St
Westfield, PA 16950
Retail Property For Sale

Auction:7/24 - 7/26: Tops Grocery Center - Westfie ***CLOSING TIMEFRAME IS 30 DAYS. PURCHASER SHALL HAVE TWO OPTIONS TO EXTEND CLOSING DATE BY 15 DAYS EACH, FOR A TOTAL CLOSING PERIOD OF 60 DAYS, AS SPECIFIED IN THE PURCHASE CONTRACT AND ADDENDUM.*** ***BIDDER DEPOSITS MUST BE PLACED ONLY BY WIRE TRANSFER OR CASHIERS CHECK OR PARTICIPATION AGREEMENT. CREDIT CARDS WILL NOT BE ACCEPTED.*** Property tours are available by appointment ONLY. Please contact John P. Current at (607) 754-5990 or jcurrent@pyramidbrokerage.com, or William C. Colucci at (315) 445-8505 or wcolucci@pyramidbrokerage.com. Investment Highlights 10,500 SF freestanding grocery store Property is currently 100% leased by Tops Family Markets Long-term tenant with in-place lease until 2036 Grocer reports strong sales and earnings at location Tenant responsible for all CAM, real estate taxes, and insurance expenses Limited Landlord responsibility Tops only grocer in market Fuel station located on property Investment Overview: 198 West Main Street (the "Property") is a Tops Family Markets anchored freestanding grocery store located in Westfield, PA. Built in 1989 and renovated in 2016, the Property is situated on a 3.22 acre parcel containing one single-story building totaling 10,500 SF. The plaza is currently 100% occupied by Tops Family Markets, a leading supermarket chain with 181 locations in New York, Pennsylvania, Vermont, and Massachusetts. There is a long-term lease in-place until 2036, and the tenant reports strong sales and earnings at this location, with reported sales around $4,200,000. In 2016 the tenant spent $500,000 to update their space. As a Triple Net lease, Tops Markets is responsible for all CAM, real estate taxes, insurance expenses, and some capital improvements. The Property is an ideal investment with a predictable cash flow from long-term tenant leases. The city of Westfield, PA is a borough in Tioga County, Pennsylvania in the United States. Within a five mile radius of the Property, the population was approximately 3,268 in 2017. It is the fifth most populous town in the county. Wellsboro, the county seat, lies approximately 12 miles east of Pennsylvania Grand Canyon, one of the states most spectacular natural attractions. This opportunity offers investors a freestanding grocery store