Thriving Bakery with Income
1020 Lincoln Avenue, Prospect Park, PA 19076
Established bakery with long-term lease and two income-producing apartments.
Type:SCR
Property size:
5,600 SFPrice / SF:
$146/SF- Added:
- Mar 1, 2022
- Days on Market:
- 1547
- Last Refresh:
- Apr 3 at 5:03 am
Property Features for 1020 Lincoln Avenue
General Information
- Standard status
- Active
- Size
- 5,600 SF
- Property subtype
- SCR
Listing agent Craig Fernsler License #RS188696L, Pennsylvania (215) 816-5835
Listing office KW Commercial | Blue Bell (215) 816-5835
Listing date Mar 1, 2022
Source Realnex
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial | Blue Bell
HighLights
- Thriving, turn‑key bakery business with over 50 years of operation included.
- Long‑term (10 year) NN lease with 3% annual increases in place.
- Gross initial income of $96,000 from building lease and apartments.
- Two fully furnished apartments with long‑term tenants included.
- High‑traffic location on Route 420 with 12,000‑24,000 ADT.
- Excellent demographics: 128,640 people within a 3‑mile radius and an average household income of $81,090.
Overview
This property features a long-established and thriving bakery business in Delaware County. The sale includes a 5,600 square foot building with a long-term (10 year) NN lease featuring 3% annual increases, plus two apartments. The gross initial income from the building will be $96,000. The family-owned and operated bakery business has over 50 years of experience. The building is in excellent condition, with the bakery occupying the entire first floor and part of the second floor. Two fully furnished apartments are occupied by long-term tenants. The property is located on heavily traveled Route 420, the main street for Prospect Park, with 12,000 average daily traffic (ADT), and 24,000 ADT on Chester Pike. The location offers excellent demographics, with 128,640 people within a 3-mile radius and an average household income of $81,090. The property is located just off Route 95 and Route 476, providing easy access to the entire Delaware Valley. The apartments are often occupied by airline pilots and employees due to their proximity to the Philadelphia Airport. The bakery business currently grosses $22,000 per week. This could be a good investment with a brand new long-term lease commencing at settlement.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$623.8K
NOI $56,138 @ 9.00% cap · cautious / downside scenario
Moderate
$802.0K
NOI $56,138 @ 7.00% cap · market / base-case scenario
Aggressive
$1.12M
NOI $56,138 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.3k | $21.12 |
| − Vacancy | −$16.2k | −$2.89 |
| EGI | $102.1k | $18.23 |
| − OpEx | −$45.9k | −$8.20 |
| NOI | $56.1k | $10.02 |
5,600 SF · lease $21.12/SF/yr · vacancy 13.70% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$802.0K
$701.7K – $935.6K
NOI $56,138 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,850 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Keystone Bakery (Formerly ...
Bakery
Location Insight
- Map
- Local Demand
- City
- Prospect Park
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.30932
- Latitude
- 39.886364
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Established bakery with long-term lease and two income-producing apartments.
Where is this apartment building located?
The property is located at 1020 Lincoln Avenue Prospect Park, PA.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Thriving, turn‑key bakery business with over 50 years of operation included.; Long‑term (10 year) NN lease with 3% annual increases in place.; Gross initial income of $96,000 from building lease and apartments.
