7231 Roosevelt Blvd
Philadelphia, PA 19149
Retail Property For Sale

Metro Commercial Real Estate is pleased to exclusively offer for sale a NNN fee-simple interest in this Office Max in Philadelphia, PA. The subject property is a 23,500 SF Office Max store located at 7231 Roosevelt Blvd, Philadelphia, Philadelphia County, Pennsylvania. The property consists of a 100% leased freestanding retail building constructed in 1974, and improved in 1995. The building sits on +/- 1.45 acres, described as Parcel 88-2154101 in the records of the Philadelphia City Government Directory. The property is situated at the primary intersection of Northeast Philadelphia's retail corridor, and offers full accessibility to a traffic count north of 36,000 vehicles per day on Roosevelt Boulevard, and 17,000 vehicles per day on Cottman Avenue. Neighboring retailers include Acme, Macy's, LA Fitness, Target, Petsmart, and Burlington Coat Factory. The strong presence of national retailers combined with the dense residential population - 116,000+ people within 3-mile radius - and a high barrier to entry market make this an attractive retail offering. Philadelphia County is comprised of more than 1.5 million people that spans across roughly 134 square miles of land. The county The county is included in the Philadelphia-Camden-Wilmington Metropolitan Statistical Area, otherwise known as the Delaware Valley, which is one of the largest metropolitan areas in the United States. The subject property is being sold via the Ten-X Auction platform. Bidding will commence on May 28, 2018 and will terminate the following day, May 29th. We invite you to review all the materials presented on the site and look forward to hearing from you at the auction. Approximately two years ago, Office Max extended their initial lease for an additional five-year term (April 1, 2016 to March 31, 2021) in exchange for a lower rental rate starting at $17.00 psf, and increasing $1.00 psf, per year. The original four (4) remaining renewal options (5 years each) were retained.