Peckville Shopping Center | 1531 Main St
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Peckville Shopping Center 1531 Main St
60,206 SF 100% Leased Retail Building Peckville, PA 18452 $8,766,275 ($146/SF) 8% Cap Rate
Investment Highlights
- 100% occupied with anchor tenants Planet Fitness, Dollar General, Ace Hardware and Fine Wine & Good Spirits (Pennsylvania Liquor Control Board) totali
- Recent façade refresh for Planet Fitness and Ace Hardware, which joined the center in 2022 on a 10-year lease
- Diverse mix of medical and food & beverage uses including Northeastern Eye Institute, Health Network Laboratories, Domino’s and Subway
- High performing Planet Fitness in occupancy since 2009 and in the top 74% of Pennsylvania locations according to Placer.Ai and recent 5 year early ren
- Weighted average occupancy of 16+ years with majority of tenants historically exercising renewal options
- High demand retail market with 97.6% occupancy rate over 42M SF of retail product
Executive Summary
KLNB Retail Capital Markets is pleased to announce for sale the fee simple interest in Peckville Shopping Center, a 60,506 SF neighborhood center in Peckville, Pennsylvania or Lackawanna County – approximately 6 miles northeast of Scranton, Pennsylvania. 100% occupied by a diverse tenant mix of national and regional retailers, the asset is anchored by Planet Fitness, Dollar General Ace Hardware, and Fine Wine & Spirits (run by the Pennsylvania Liquor Control Board) – providing local and regional draw to the center. Planet Fitness, which has anchored the Center since 2009 is a top 74% location for the brand in the Pennsylvania, according to Placer. Ai, has a rare corporate guaranty, and contributes 46% of base rent while comprising 32% of the GLA. In addition, Dollar General just took a 5 year option early demonstrating their long-term commitment to the Center and submarket.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
60,206 SF
Building Class
B
Year Built/Renovated
1953/2010
Price
$8,766,275
Price Per SF
$146
Cap Rate
8%
NOI
$701,302
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
6.20 AC
Opportunity Zone
Yes
Parking
233 Spaces (3.85 Spaces per 1,000 SF Leased)
Frontage
570 FT on Main St
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 10318060017 | Improvements Assessment | $462,000 |
| Land Assessment | $68,500 | Total Assessment | $530,500 |
PROPERTY TAXES
Parcel Number
10318060017
Land Assessment
$68,500
Improvements Assessment
$462,000
Total Assessment
$530,500
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Peckville Shopping Center | 1531 Main St
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