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Fulton Bank/Dance Studio 2700-2702 W Girard Ave

8,000 SF 100% Leased Retail Building Philadelphia, PA 19130 $2,048,140 ($256/SF) 7.50% Cap Rate

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Investment Highlights

Fulton Bank (NASDAQ: FULT) is an investment grade tenant with over $26B in total assets, more than 50% of Fulton's footprint is in Greater Phila
100% occupied property with both tenants having 5+ years of lease term remaining with multiple renewal options
Property is adjacent to multiple large-mixed use developments and surrounding Brewerytown submarket is rapidly developing

Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance.
Corner location on West Girard Avenue and is easily accessible on foot, by car (over 6,500 vehicles per day), or public transportation
Extremely dense, infill Philadelphia location with 54,483 people within 1 mile, 505,356 people within 3 miles and 1,082,000 people within 5 miles

Executive Summary

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 8,000 square foot Fulton Bank property located in Brewerytown, 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.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Bank

Building Size

8,000 SF

Building Class

Year Built/Renovated

1940/1991

Price

$2,048,140

Price Per SF

$256

Cap Rate

7.50%

NOI

$153,610

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Building FAR

2.00

Lot Size

0.09 AC

Opportunity Zone

Yes

Zoning

C2 - commerical

MAJOR TENANTS

Finance and Insurance
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Since Fulton Bank opened its doors in 1882, we have strived to deliver the best banking experience for our customers. Their focus on customers has allowed them to grow along with you. Today, as part of Fulton Financial Corporation, an over $30 billion financial services holding company, Fulton Bank offers a broad array of financial products and services in Pennsylvania, New Jersey, Maryland, Delaware, and Virginia.