24 Robinson StPottstown, PA 19464

For Sale
$3,950,000

Two prime office buildings, 100% leased.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents two single-tenant office buildings totaling 22,062 square feet, strategically located in Pottstown and Lehighton, Pennsylvania. Both properties are 100% occupied under long-term leases with the Commonwealth of Pennsylvania, specifically the Department of Human Services (DHS), providing crucial services to the community. The Pottstown location, built in 2003 and renovated in 2021, sits on 2.59 acres and is zoned Flex Office (FO) and Highway Commercial District (C-3). The Lehighton property, constructed in 2006 and also renovated in 2021, occupies 2.02 acres and shares the same zoning. The properties benefit from new 10-year lease extensions executed in 2019 and 2020, commencing in early 2021. These leases include annual CPI rent adjustments, capped at a 5% increase, safeguarding the owner's return. The Lehighton lease expansion in 2021 incorporated the Department of Health, adding 1,160 square feet and requiring significant leasehold improvements, including a separate entrance, waiting room, reception area, and two exam rooms. The combined portfolio boasts a strong NOI of $318,657, an 8.07% cap rate, and an asking price of $3,950,000 ($179.04 per square foot). This is a rare chance to acquire a stable, high-performing asset with a secure tenant and significant long-term growth potential. The properties serve as essential community hubs, with the Lehighton location being the only such center in Carbon County and the Pottstown location one of only two in Montgomery County.

Highlights

  • Investment-grade portfolio: Two properties totaling 22,062 square feet, leased to the Commonwealth of Pennsylvania (S&P A+).
  • Both properties are build-to-suit, with long-term occupancy (Pottstown since 2003, Lehighton since 2006).
  • New 10-year lease extensions executed in 2019 and 2020, commencing early 2021.
  • Leases include annual CPI rent adjustments, capped at 5% to protect against rising expenses.
  • Lehighton lease expansion includes a new 1,160 SF State Health Center with dedicated entrance, waiting room, reception, and exam rooms.
  • Critical social services facilities: Sole Carbon County location and one of two in Montgomery County.

Property Details for 24 Robinson St

Property type
Other office properties, Office properties
Square Feet
22,062 SF
Year Built/Renovated
2003/2021
Buildings
2
Lot Size (sq. ft)
87,991 SF

Location Insight

City
Pottstown
County
Montgomery
State
Pennsylvania
Latitude
40.2566808
Longitude
-75.6636292
24 Robinson St, Pottstown, Pennsylvania

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24 Robinson St
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