3101 Pittston AveScranton, PA 18505

For Sale
$2,760,575

High-yield NNN lease, strong tenant

Overview

Added:
Dec 11, 2024
Days on market:
94
This Scranton, PA, Fuel On gas station presents a compelling sale-leaseback opportunity. The property features a 20-year absolute NNN lease with a reputable, growing 36-unit operator, providing a passive investment with minimal landlord responsibilities. The lease includes annual 2.5% rent bumps, safeguarding against inflation. The 2,800 square foot station sits on a 1.12-acre lot in a high-traffic area (29,245+ vehicles daily), boasting a strong history of profitability (three years of financials available). The tenant is responsible for all property maintenance, insurance, and taxes. The asking price is $2,760,575, representing an 8.00% cap rate and a price per square foot of $985.92. The lease offers four 5-year renewal options. The property also qualifies for bonus depreciation (60% in Year 1). This is a fee-simple ownership opportunity with a strong tenant guarantee and excellent historical financial performance. Detailed financial records are available for review. The investment is further enhanced by the experienced management team's extensive background in retail gas and convenience store operations.

Highlights

  • Sale-leaseback opportunity for a Fuel On Gas Station in Scranton, PA; business not included.
  • Lease guaranteed by a growing, 36-unit operator; corporate financials available.
  • Property shows a history of strong, growing profitability; three years of financials available.
  • Experienced operator with extensive retail gas and convenience store experience.
  • 20-year Absolute NNN lease with 2.5% annual rent increases.
  • Qualifies for bonus depreciation (60% in Year 1); consult your CPA.

Property Details for 3101 Pittston Ave

Property type
Other retail properties, Automotive properties
Square Feet
2,800 SF
Lot Size (sq. ft)
48,787 SF

Location Insight

City
Scranton
County
Lackawanna
State
Pennsylvania
Latitude
41.3771763
Longitude
-75.6931422
3101 Pittston Ave, Scranton, Pennsylvania

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3101 Pittston Ave
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