7001 Frankford AvePhiladelphia, PA 19135

For Sale
$5,580,250

High-yield Walgreens net lease, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple ownership of a 13,825 square foot Walgreens located at 7001 Frankford Ave, Philadelphia, PA 19135. The property sits on a 0.91-acre lot and boasts a strong 8.10% cap rate, generating a net operating income (NOI) of $452,000. The property features a long-term, net lease with a national investment-grade tenant, Walgreens, with a remaining lease term of 5 years and eight 5-year renewal options, extending the lease to a potential total of 45 years. Built in 1999, this single-tenant retail property benefits from a flat rent structure (subject to percentage rents) and 100% occupancy. The asking price is $5,580,250, translating to a price per square foot of $403.63. The property's strategic location in a densely populated Philadelphia neighborhood ensures consistent high traffic and visibility. This is a passive investment with minimal landlord responsibilities, offering a compelling return on investment in a recession-resistant industry. The lease commenced on November 29, 1999, and expires on November 29, 2029. This property is an ideal addition to any portfolio seeking stable, long-term income generation.

Highlights

  • Passive net lease structure with minimal landlord responsibilities.
  • Investment-grade national tenant (Walgreens) with a strong reputation.
  • Recession-resistant essential retail business model.
  • High-visibility location on a signalized corner.
  • Eight 5-year renewal options, extending the lease term to a potential 45 years.
  • Located in a densely populated area of Philadelphia, PA.

Property Details for 7001 Frankford Ave

Property type
Other retail properties, Individual retail properties
Square Feet
13,825 SF
Year Built
1999
Lot Size (sq. ft)
39,640 SF

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.03387428
Longitude
-75.0464338
7001 Frankford Ave, Philadelphia, Pennsylvania

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
7001 Frankford Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message