490 Forty Foot RdLansdale, PA 19446

For Sale
$1,846,154

Penn Community Bank, 6.5-year lease, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple ownership of a single-tenant, 4,004 square foot retail building currently leased to Penn Community Bank. Located at 490 Forty Foot Rd, Lansdale, PA 19446, this property boasts a prime location on a signalized intersection with high traffic counts (approximately 35,844 ADT). The 1.17-acre lot provides ample parking (25 spaces) for customers. The building, constructed in 2000, is a one-story structure with commercial zoning (C). The current lease, a modified triple-net (NNN) agreement, commenced June 18, 2021, and expires June 17, 2031, with a remaining term of 6.5 years. The lease includes three 5-year renewal options and features a 10% rent increase every five years. The tenant, Penn Community Bank, is a financially stable institution with over $2.5 billion in assets, providing a strong corporate guarantee. The property's net operating income (NOI) is $120,000, resulting in a 6.50% cap rate. The asking price is $1,846,154. The property benefits from its proximity to major retailers, including a Whole Foods anchored lifestyle center, and is conveniently located near the Lansdale Interchange on the PA Turnpike's Northeast Extension. This is a rare opportunity to acquire a stable, high-performing investment property with significant upside potential.

Highlights

  • Penn Community Bank, a strong tenant with a corporate guarantee and over $2.5 billion in assets, occupies the space.
  • NNN lease with 6.5 years remaining, plus three 5-year options. Landlord responsible for roof and structure.
  • High-traffic location at a signalized intersection with 22,622 ADT on Forty Foot Rd and 13,222 ADT on Allentown Rd.

Property Details for 490 Forty Foot Rd

Property type
Other retail properties, Individual retail properties
Square Feet
4,004 SF
Year Built
2000
Buildings
1
Stories
1
Lot Size (sq. ft)
50,965 SF
Units
1

Location Insight

City
Lansdale
County
Montgomery
State
Pennsylvania
Latitude
40.25967677
Longitude
-75.32437522
490 Forty Foot Rd, Lansdale, Pennsylvania

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490 Forty Foot Rd
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