Listing Contacts
Kenneth Yanni
License: PA RS323884
Asking Price
$1,850,000
Address
3481 Concord Road
Aston, PA
Property Details
Asking Price
$1,850,000
Property Type
Retail
Lease Type
NNN
Tenant Credit
Corporate Guarantee
Tenancy
Single
Square Footage
1,000
Price/Sq Ft
$1,850
Cap Rate
5.89%
Permitted Zoning
Commercial (02)
Lot Size (acres)
1.77
Parking (spaces)
10
Ground Lease
Yes
Property Description
Equity Retail Brokers is pleased to offer for sale to qualified investors an opportunity to acquire a Giant Gas Station Ground Lease. The Property sits at 3481 Concord Road, Aston, PA 19014 and directly across the street from a Giant Food Store. The lease is guaranteed by Giant-Carlisle who owns and operates approximately 200 grocery stores and 90 gas stations spanning four states.

The subject property sits ¼ mile from the highly trafficked intersection of Pennell Road and Concord Road. Tenants in the immediately surrounding areas include: Giant Foods, Big Lots, Family Dollar, Rent-A-Center, Dollar Tree, Walgreens, and many more. The surrounding neighborhoods have strong demographics making it an ideal area for retail.

The tenant is Giant-Carlisle, a grocery store operator with over with 180 grocery stores and 92 gas stations across the Mid-Atlantic region. Giant-Carlisle’s parent company is Ahold Delhaize, which operates 22 brands, has over 6,500 in 11 countries. The lease has 5 years remaining on the initial term with a 10% increases at each option period. The ground lease is NNN with no landlord responsibilities for operating or capital expenses related to the property. The tenant is directly responsible for all expenses.

Property Highlights
  • Approximately 300 Stores in the Mid-Atlantic Region
  • Corporate Guarantee
  • 5 Years Remaining on Primary Term, With Options
  • 10% Rental Increases Every Five Years
  • Ground Lease – No Landlord Responsibilities
  • Strong Retail Intersection Including Giant Foods, Big Lots, Family Dollar,
  • Rent-A-Center, Dollar Tree & Walgreens