317 Germantown PikeEast Norriton, PA 19403

For Sale
$10,192,655

East Norriton, PA: 100% occupied, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 17,160-square-foot, multi-tenant medical office building located at 317 West Germantown Pike, East Norriton, Pennsylvania, 19403. The property, built in 2022, boasts a 100% occupancy rate with three strong tenants: S.E PA Pain Management, East Norriton Surgical Center, LLC, and Total Performance Physical Therapy. The absolute NNN leases provide a passive income stream with a weighted average lease term (WALT) of 16.4 years, ensuring long-term stability. Annual rent increases are tied to the Consumer Price Index (CPI) with a 2.5% floor, offering inflation protection. The asking price is $10,192,655, representing a price per square foot of $593.98 and a 5.82% cap rate. The property features an attractive assumable debt at a 3.65% interest rate until 2031. Situated on a 0.4-acre lot in a thriving medical corridor, less than a mile from two major regional hospitals, this building offers a high-end fit-out, including two operating rooms. The property's strategic location and strong tenant base make it an ideal investment for those seeking a stable, high-return asset with significant long-term growth potential. Lease options include two 5-year renewal periods. The Net Operating Income (NOI) is $593,196.

Highlights

  • Assumable debt at a 3.65% interest rate until 2031.
  • 16.4-year weighted average lease term (WALT) with annual CPI rent increases.
  • Absolute NNN leases.
  • Located in a prime medical corridor, within one mile of two major hospitals.
  • 2022 construction for a surgery center, medical practice, and physical therapy group.
  • High-end finishes including two operating rooms.

Property Details for 317 Germantown Pike

Property type
Other office properties, Medical offices
Square Feet
17,160 SF
Year Built
2022
Lot Size (sq. ft)
17,424 SF

Location Insight

City
East Norriton
County
Montgomery
State
Pennsylvania
Latitude
40.1488836
Longitude
-75.3311117
317 Germantown Pike, East Norriton, Pennsylvania

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317 Germantown Pike
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