217 E Lancaster Ave | Wayne, PA 19087
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217 E Lancaster Ave
Wayne, PA 19087
Bank of America · Retail Property For Sale
Investment Highlights
- 14+ years of successful operation
- Absolute NNN Lease Zero Landlord responsibility
- 1 mile median home values $730k
- 23,000+ VPD
- Located 12 miles from Downtown Philadelphia
- 20 years of renewal options
Executive Summary
Goldcap Real Estate Advisors is pleased to exclusively present 217 E Lancaster avenue Wayne, PA. The asset is an absolute NNN Leased Retail condominium leased to Bank of America with zero landlord responsibility and 10% rent increases every 5 years or 5 years CPI allowing for a completely passive and stable investment. Bank of America has successfully operated in this location for 15+ years and has 4+ years left of the initial 20 year term with 4-5 year options to renew. This location receives 24,000 Visitors per day and is surrounded by many national Franchise and credit rated tenants including Chase Bank, TD Bank, CVS, Whole Foods, Giant,Acme, Rite aid, Dunkin Chipotle and many more. Wayne PA is located in Delaware county, a suburb 12 Miles from Downtown Philadelphia on the prestigious and affluent Main Line region.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
3,640 SF
Building Class
B
Year Built
2006
Price
$6,723,568
Price Per SF
$1,847
Cap Rate
6.25%
NOI
$420,223
Tenancy
Single
Building Height
2 Stories
Building FAR
0.13
Lot Size
0.62 AC
Zoning
C-2 - Commercial
Parking
38 Spaces (10 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 36-01-00321-01 | Improvements Assessment | $0 |
| Land Assessment | $351,050 | Total Assessment | $351,050 |
PROPERTY TAXES
Parcel Number
36-01-00321-01
Land Assessment
$351,050
Improvements Assessment
$0
Total Assessment
$351,050
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