Listing Contacts
Kenneth Yanni
License: PA RS323884
Edward Ginn
License: PA RM050201A
Asking Price
$2,666,666
Address
101 Chester Ave
Yeadon, PA
Property Details
Asking Price
$2,666,666
Property Type
Retail
Lease Type
NNN
Tenant Credit
Credit Rated, Corporate Guarantee
Tenancy
Single
Lease Expiration
12/29/2029
Remaining Term
10.1 years
Square Footage
10,125
Price/Sq Ft
$263.37
Cap Rate
6.00%
NOI
$160,000
Year Built
2000
Rent Bumps
In Options
Lease Options
Three, 5-Year Options
Ownership
Fee Simple
Property Description

Offered for sale to qualified investors is the rare opportunity to acquire a property with an investment grade tenant, situated just off MacDade Blvd in Yeadon, PA, a borough just outside of Philadelphia. CVS Pharmacy recently extended their lease for 10 years. The lease is corporately guaranteed with options to extend and minimal landlord responsibilities. The subject property features a free-standing, +/- 10,125 SF building with a drive-thru lane. Adjacent to the Property are national retail tenants, Dollar General and Santander Bank.

Property Highlights
STRONG CORPORATE TENANT
  • Tenant: CVS Health Corporation 
  • Established, high-credit, single-tenant retail pharmacy 
  • 9,600+ locations across 49 U.S. States and the District of Columbia, Puerto Rico, and Brazil 
  • S&P: BBB 
  • NYSE: CVS
STABLE INCOME 
  • Recent 10 Year Extension
  • Limited Landlord Responsibilities
  • 10+ Years Remaining on Lease Term with Options to Extend
STRONG RETAIL LOCATION 
  • N MacDade Blvd (US-13): 14,055 ADT (DVRPC 2016)
  • Cedar Ave: 4,209 ADT (DVRPC 2017)
  • Densely populated, suburb of Philadelphia
  • Over 2,000 apartment units within 1-mile