2700 W GIRARD AVE Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19130
Key Details
Property Type Townhouse
Sub Type End of Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $256
Subdivision Brewerytown
MLS Listing ID PAPH2461480
Style Other
Year Built 1925
Annual Tax Amount $7,921
Tax Year 2024
Lot Size 4,000 Sqft
Property Sub-Type End of Row/Townhouse
Property Description
8,000 SF. CMX25 building, 100% Leased Retail Building located in Brewerytown, ($256.02/SF) 7.50% Cap Rate. Brewery town is a rapidly developing neighborhood of North Philadelphia. The Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance. Fulton Bank has more than 5 years remaining on a NNN* lease and ownership recently executed a new, 7-year lease with one five-year renewal - with significant rent increases during the initial term and annual increases in the option period - with a dance studio tenant for the second floor space. There is also an unfinished basement accessed through bilco doors on Girard Ave sidewalk. INVESTMENT GRADE CREDIT TENANT Headquartered in Lancaster, PA, Fulton Bank is a publicly traded (NASDAQ: FULT), investment grade credit rated tenant with a Baa2 rating from Moody's and over $26B in total assets. More than 50% of Fulton's location footprint is in the Greater Philadelphia area and they have targeted Philadelphia as a significant growth market. RETAIL CORRIDOR - Girard Avenue is quickly becoming a main retail corridor with numerous restaurants and shops between 26th and 30th streets in addition to surrounding national retailers like ALDI, Fine Wine & Good Spirits, Dollar Tree and Boost Mobile.
Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning CMX25
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Exterior
Water Access N
Building
Foundation Other,Concrete Perimeter,Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Special Listing Condition Standard