1970 Broad StLansdale, PA 19446

For Sale
$2,640,000

High-yield medical office building, strong tenants.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 12,000 square foot medical office building presents a compelling value-add investment opportunity in Lansdale, Pennsylvania. Located at 1970 N Broad St, this property boasts a prime location in Montgomery County, situated on a 1.54-acre lot. The building, constructed in 1982 and recently renovated, is currently 98% occupied by two high-credit tenants: Penn Medicine and LabCorp, providing a strong corporate guarantee. The current lease structure is a triple net (NNN) lease with annual rent bumps of 3%, ensuring consistent income growth. The asking price is $2,640,000, translating to a price per square foot of $220. The property generates a substantial net operating income (NOI) of $228,218, resulting in an attractive cap rate of 8.64%. This presents a rare opportunity to acquire a stable, high-performing asset with significant upside potential in a desirable medical market. The property's strong tenancy, recent renovations, and favorable lease terms make it an ideal investment for both seasoned and emerging investors seeking a secure and profitable addition to their portfolio. The location offers excellent visibility and accessibility, further enhancing its investment appeal.

Highlights

  • 12,000 SF medical office building in Lansdale, PA, on a 1.54-acre lot.
  • 98% occupied by Penn Medicine and LabCorp under NNN leases with 3% annual rent increases.
  • Asking price: $2,640,000 ($220/SF), generating $228,218 NOI (8.64% cap rate).
  • Prime Montgomery County location with excellent visibility and accessibility.
  • Recently renovated with strong tenancy and significant upside potential.

Property Details for 1970 Broad St

Property type
Other office properties, Medical offices
Square Feet
12,000 SF
Year Built
1982
Lot Size (sq. ft)
67,082 SF

Location Insight

City
Lansdale
County
Montgomery
State
Pennsylvania
Latitude
40.2599254
Longitude
-75.2643557
1970 Broad St, Lansdale, Pennsylvania

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1970 Broad St
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