217 Church RdKing of Prussia, PA 19406

For Sale
$4,300,000

High-return NNN lease, strong tenant

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 16,015 square foot, Class A, single-tenant retail property in King of Prussia, Pennsylvania. The property houses a Playtime Pet Resort operating under a Net Lease (NNN) agreement with 13.5 years remaining until May 31, 2038. The lease features annual rent increases of $8,000, escalating to 3% annually from June 2033. A recent 10-year lease extension demonstrates the tenant's commitment and strong performance. The property boasts a new 20-year roof (installed August 2022) and ample parking (232 spaces). The tenant recently completed extensive interior renovations. The location benefits from exceptional regional accessibility via major highways (I-76, Routes 202 & 422, Pennsylvania Turnpike, I-476) and is situated in a high-income, densely populated area of Montgomery County, one of Pennsylvania's wealthiest counties. The tenant, Pet Resort Hospitality Group, was recently acquired by Trivest, a major private equity firm managing over $5.5 billion in assets, further solidifying the investment's strength. The property's strong performance is also evidenced by a 4.8 Google rating (approximately 600 reviews). The asking price is $4,300,000, representing a 6.81% cap rate and a price per square foot of $268.50. Built in 1968 and renovated in 2024, this property offers a secure, high-yield investment with significant long-term potential. The 4.79-acre lot provides ample space and future development possibilities. The property's location within King of Prussia's affluent market ensures consistent demand and strong rental income.

Highlights

  • 16,015 SF Playtime Pet Resort in King of Prussia, PA, under a long-term NNN lease expiring May 2038.
  • NNN lease with annual rent increases of $8,000, adjusting to 3% annually starting June 2033.
  • Tenant recently extended lease for 10 years without concessions.
  • New 20-year TPO roof installed August 2022.
  • Tenant acquired by Trivest, a major private equity firm managing over $5.5 billion in assets.
  • Strong tenant performance evidenced by lease extension, extensive tenant-funded renovations, and a 4.8 Google rating (approx. 600 reviews).

Property Details for 217 Church Rd

Property type
Other retail properties, Retail properties
Square Feet
16,015 SF
Class
A
Year Built/Renovated
1968/2024
Buildings
1
Stories
1
Lot Size (sq. ft)
208,652 SF

Location Insight

City
King of Prussia
County
Montgomery
State
Pennsylvania
Latitude
40.084758500919
Longitude
-75.360980702303
217 Church Rd, King of Prussia, Pennsylvania

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217 Church Rd
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