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400 W Street Rd 1,080 SF Retail Building Warminster, PA 18974 $1,950,871 ($1,806.36/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Fee Simple Ownership
- Experienced operator with 5+ lease term remaining
EXECUTIVE SUMMARY
ABSOLUTE NNN | FEE SIMPLE OWNERSHIP | BONUS DEPRECIATION ELIGIBLE
• No Landlord responsibilities
• Ideal, management-free investment for a passive investor
• Contact broker for bonus depreciation proforma
EXPERIENCED OPERATOR WITH 5+ YEARS OF LEASE TERM | SCHEDULED RENTAL INCREASES ESTABLISHED BRAND
• The tenant (Global Partners, LP) has over 5 years of term remaining & 3, 5-year options to extend, demonstrating their long-term commitment to the site
• The lease features 1.5% rental increases annually during the initial term and throughout each option period, growing NOI and hedging against inflation
• The lease is backed by Global Partners LP, a leading energy supply company that secured a spot at 361 on the 2018 Fortune 500 list. Global Partners LP is a publicly traded company (NYSE: GLP) with a B+ credit rating from Standard & Poor’s.
LARGE SITE – BELOW MARKET RENT
• Large 1.26 Acre with full unrestricted access
• Below market ground lease
• Ground Lease Rent Comps exceed $120k per year.
DENSE AFFLUENT RETAIL CORRIDOR | STRONG NATIONAL/CREDIT TENANT PRESENCE
• Heavily trafficked location with subject property seeing over 32k vehicles per day
• Average Household Income of over $95,000 in 1 mile radius, $107,000 in 3 mile radius
• Subject is located along a primary retail corridor, proximal to Center Point Place, featuring national tenants in Giant, Ashely Furniture, & Kohl’s
• No Landlord responsibilities
• Ideal, management-free investment for a passive investor
• Contact broker for bonus depreciation proforma
EXPERIENCED OPERATOR WITH 5+ YEARS OF LEASE TERM | SCHEDULED RENTAL INCREASES ESTABLISHED BRAND
• The tenant (Global Partners, LP) has over 5 years of term remaining & 3, 5-year options to extend, demonstrating their long-term commitment to the site
• The lease features 1.5% rental increases annually during the initial term and throughout each option period, growing NOI and hedging against inflation
• The lease is backed by Global Partners LP, a leading energy supply company that secured a spot at 361 on the 2018 Fortune 500 list. Global Partners LP is a publicly traded company (NYSE: GLP) with a B+ credit rating from Standard & Poor’s.
LARGE SITE – BELOW MARKET RENT
• Large 1.26 Acre with full unrestricted access
• Below market ground lease
• Ground Lease Rent Comps exceed $120k per year.
DENSE AFFLUENT RETAIL CORRIDOR | STRONG NATIONAL/CREDIT TENANT PRESENCE
• Heavily trafficked location with subject property seeing over 32k vehicles per day
• Average Household Income of over $95,000 in 1 mile radius, $107,000 in 3 mile radius
• Subject is located along a primary retail corridor, proximal to Center Point Place, featuring national tenants in Giant, Ashely Furniture, & Kohl’s
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
1,080 SF
Building Class
C
Year Built
1990
Price
$1,950,871
Price Per SF
$1,806.36
Cap Rate
5.50%
NOI
$107,298
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
1.26 AC
Zoning
49C
Parking
2 Spaces (2.1 Spaces per 1,000 SF Leased)
Frontage
235’ on Street Rd
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 49-019-234 | Improvements Assessment | $73,720 |
| Land Assessment | $71,120 | Total Assessment | $144,840 |
PROPERTY TAXES
Parcel Number
49-019-234
Land Assessment
$71,120
Improvements Assessment
$73,720
Total Assessment
$144,840
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400 W Street Rd
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