2700 Girard AvePhiladelphia, PA 19130

For Sale
$2,048,139.73

Bank-anchored retail, high cap rate, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple ownership of a two-tenant retail property located at 2700 W Girard Ave, Philadelphia, PA 19130. The 8,000 square foot building, constructed in 1900 and extensively renovated in 2018, boasts a 7.50% cap rate and a strong NOI of $153,610. The property features a prominent Fulton Bank as its anchor tenant, a publicly traded company with an investment-grade credit rating, occupying the ground floor. A second tenant, a dance studio, occupies the second floor. Both tenants have multi-year leases in place, ensuring a stable income stream. The property sits on a 0.09-acre lot and is situated on a signalized hard corner with excellent visibility and accessibility, benefiting from high vehicular and pedestrian traffic. The Brewerytown neighborhood is experiencing significant growth, with new residential and commercial developments underway, further enhancing the property's value. The location offers easy access to public transportation and is surrounded by a dense and affluent population, with average household incomes exceeding $107,000 within a three-mile radius. This fully occupied, two-story building presents a compelling investment opportunity with limited exposure to future deferred maintenance due to recent renovations. The asking price is $2,048,139.73, representing a price per square foot of $256.02. The property's strong tenant base, prime location, and recent renovations make it an attractive addition to any investment portfolio.

Highlights

  • Investment-grade tenant: Fulton Bank (NASDAQ: FULT), a publicly traded company with a Baa2 Moody's rating and over $26B in assets, occupies the ground floor with a multi-year lease.
  • Prime Philadelphia location: 8,000 SF building located in a high-growth Brewerytown submarket with strong demographics (average household income exceeding $107,000 within a 3-mile radius).
  • Dense and affluent population: High population density within 1, 3, and 5-mile radii.
  • High-growth neighborhood: Surrounded by new mixed-use developments adding significant residential and commercial space.
  • Excellent visibility and accessibility: Signalized hard corner location on W. Girard Ave with high vehicular and pedestrian traffic, plus easy access to public transportation.
  • Recently renovated: Extensive interior and exterior renovations completed in 2018-2019.

Property Details for 2700 Girard Ave

Property type
Other retail properties, Individual retail properties
Square Feet
8,000 SF
Year Built/Renovated
1900/2018
Buildings
1
Stories
2
Lot Size (sq. ft)
3,920 SF
Units
2

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.974169017168
Longitude
-75.180485399601
2700 Girard Ave, Philadelphia, Pennsylvania

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2700 Girard Ave
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