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2651 Wheatsheaf Ln
Philadelphia, PA 19137
Land For Sale
·
0.87 AC
INVESTMENT HIGHLIGHTS
- passive income play
- massive potential value-add
- industrial outdoor storage (IOS) is hot in Philly!
- In-place 8 cap!
EXECUTIVE SUMMARY
2651 Wheatsheaf Lane – Philadelphia, PA 19137
NNN Land Lease Investment
Asking Price: $795,000
Current Tenant: Towing & vehicle storage operator
Lease: 5-year NNN lease (started April 2024)
Rent: $5,200/mo with 4% annual bumps
Renewal: Tenant has 5-year option at landlord’s set rent
Expenses: Tenant pays taxes, insurance, maintenance, utilities, snow removal, etc.
Low-touch management, stable income
Year 1 NOI: $63,400
Year 1 Cap Rate: ~7.97%
This is a turnkey passive income play with built-in rent growth, perfect for 1031 buyers or investors who want simple mailbox money.
PROPERTY FACTS Under Contract
| Sale Type | Investment | Property Subtype | Industrial |
| Sale Conditions | Proposed Use | ||
| No. Lots | 1 | Total Lot Size | 0.87 AC |
| Property Type | Land | ||
| Zoning | I2 - Medium Industrial | ||
| Sale Type | Investment |
| Sale Conditions | |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | |
| Total Lot Size | 0.87 AC |
| Zoning | I2 - Medium Industrial |
1 LOT AVAILABLE
Lot
| Price | $749,000 | Lot Size | 0.87 AC |
| Price Per AC | $860,919.54 |
| Price | $749,000 |
| Price Per AC | $860,919.54 |
| Lot Size | 0.87 AC |
Leased Industrial Outdoor Storage Land 2651 Wheatsheaf Lane – Philadelphia, PA 19137 NNN Land Lease Investment Current Tenant: Towing & vehicle storage operator Lease: 5-year NNN lease (started April 2024) Rent: $5,200/mo with 4% annual bumps
DESCRIPTION
2651 Wheatsheaf Lane – Philadelphia, PA 19137 NNN Land Lease Investment Asking Price: $795,000 Current Tenant: Towing & vehicle storage operator Lease: 5-year NNN lease (started April 2024) Rent: $5,200/mo with 4% annual bumps up to $5,849/mo by Year 5 Renewal: Tenant has 5-year option at landlord’s set rent Expenses: Tenant pays taxes, insurance, maintenance, utilities, snow removal, etc. Low-touch management, stable income Year 1 NOI: $63,400 Year 1 Cap Rate: ~7.97% This is a turnkey passive income play with built-in rent growth, perfect for 1031 buyers or investors who want simple mailbox money.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $1,149,400 | Total Assessment | $1,149,400 |
PROPERTY TAXES
