1620 Mount Hope AvePottsville, PA 17901

For Sale
$794,711

8.25% Cap Rate, 7+ Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
97
This fee-simple medical office building presents a compelling investment opportunity. Located at 1620 Mt Hope Ave, Pottsville, PA 17901, this 4,200 square foot property boasts a strong 8.25% cap rate and a 7.1-year lease with Spark Orthodontics, a dental support organization with approximately 50 locations. The lease commenced December 29, 2021, and expires December 28, 2031, featuring a 100% occupancy rate and 3% annual rent increases, providing a hedge against inflation. The building, constructed in 1999 and renovated in 2016, sits on a 0.33-acre lot and is situated near local schools. The current net operating income (NOI) is $65,564, with an asking price of $794,711 ($189 per square foot). The property is a single-tenant, net lease (NNN) investment, offering minimal landlord responsibilities. Lease options include 1 and 5-year extensions. This is an ideal property for investors seeking a passive income stream in a recession-resistant sector, benefiting from the stability of a long-term lease with a well-established tenant in a growing industry. The tenant's current rent is below the average for orthodontic practices, offering potential for future appreciation. This property is a strong addition to any diversified portfolio.

Highlights

  • Fee-simple medical office building offering a strong 8.25% cap rate.
  • Ideal 1031 exchange property with minimal landlord responsibilities and a long-term lease.
  • Recession-resistant investment due to the tenant's stability and the healthcare industry's resilience.
  • Strong inflation hedge with 3% annual rent increases.
  • Excellent location near schools, beneficial for the orthodontic practice's target demographic.
  • Attractive rent of $15.61/SF, below market average for orthodontic practices.

Property Details for 1620 Mount Hope Ave

Property type
Other retail properties, Other office properties
Square Feet
4,200 SF
Year Built/Renovated
1999/2016
Lot Size (sq. ft)
14,375 SF

Location Insight

City
Pottsville
County
Schuylkill
State
Pennsylvania
Latitude
40.6853522
Longitude
-76.2177916
1620 Mount Hope Ave, Pottsville, Pennsylvania

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1620 Mount Hope Ave
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