92 Pennsylvania AveWilkes-Barre, PA 18701

For Sale
$3,575,150

High-return gas station investment. 20-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents the sale-leaseback of a thriving Fuel On gas station located at 92 S Pennsylvania Ave, Wilkes-Barre, PA 18701. The property boasts a 20-year absolute NNN lease with a reputable, growing operator managing 36 units, providing strong financial guarantees. The lease features annual 2.5% rent bumps, safeguarding against inflation. With a total square footage of 5,755, the property sits on a 0.74-acre lot and enjoys high traffic counts exceeding 21,000 vehicles daily. The asking price is $3,575,150, representing a compelling cap rate of 8.00% and a price per square foot of $621.23. The property's strong financial performance is evidenced by a Net Operating Income (NOI) of $286,012, and three years of site-level financials are available for review. The lease includes four 5-year renewal options, further enhancing the long-term value of this investment. The tenant is responsible for all property maintenance, insurance, and taxes, offering a truly passive investment opportunity. This property also qualifies for bonus depreciation (60% in Year 1). This is a fee simple ownership opportunity.

Highlights

  • Sale-leaseback of a thriving Fuel On gas station in Wilkes-Barre, PA, with a 20-year absolute NNN lease.
  • Lease guaranteed by a growing operator managing 36 units; corporate financials available.
  • Experienced operator with extensive retail gas and convenience store experience.
  • Lease includes 2.5% annual rent increases.
  • 20-year absolute NNN lease; tenant responsible for all property maintenance, insurance, and taxes.
  • Qualifies for bonus depreciation (60% in Year 1).

Property Details for 92 Pennsylvania Ave

Property type
Other retail properties, Automotive properties
Square Feet
5,755 SF
Lot Size (sq. ft)
32,234 SF

Location Insight

City
Wilkes-Barre
County
Luzerne
State
Pennsylvania
Latitude
41.2418363
Longitude
-75.8819752
92 Pennsylvania Ave, Wilkes-Barre, Pennsylvania

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92 Pennsylvania Ave
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