1500 S Front St Philadelphia, PA 19147

This is a fee-simple NNN long-term ground lease investment opportunity with Verizon Wireless, an investment-grade S&P rated BBB+ tenant. The leased area of 1,845 sq ft is subdivided as a separate parcel. Verizon Wireless has ground leased the property since 1996 for a wireless communications facility building, which includes cabling, utility connections, a standby generator, and gated private driveway access. These features are essential for its operations and use of the 120’ monopole tower on an adjacent parcel. The tenant has a long-term commitment to the site, having recently completed facility improvements, including new equipment, cabling, trays, and a generator. An extension addendum expanded the leased area from approximately 1,250 sq ft to 1,845 sq ft and added an additional 20 years of terms with 15% increases every 5 years. The property is strategically located next to interstate 95, which has traffic counts of 123,000+ vehicles per day. The surrounding area has a high population density, with 86,000 residents within a 1-mile radius, 436,000 within a 3-mile radius, and 1.01 million within a 5-mile radius. The property is located in the Pennsport riverfront community, which is in high demand with luxury residential development. The tenant is directly responsible for all maintenance, utilities, insurance, and reimbursement of the annual property tax. Rental payments are direct-deposited monthly. The additional 5-year lease terms automatically renew unless the tenant terminates with at least 6 months' notice prior to the end of the current term. The current annual rent is $20,125.00 through 9/30/26, increasing to $23,143.75 from 10/1/26 through 9/30/31, and further increasing to $26,615.31 from 10/1/31 through 9/30/36.