1832 E Allegheny Ave Philadelphia, PA 19134

This Wells Fargo branch is a long-term investment opportunity. The property is backed by investment-grade credit and features a stable lease structure. The property benefits from a corporate guarantee by Wells Fargo Bank, NA, an A+ rated financial institution. The absolute-net ground lease structure eliminates landlord responsibilities. Wells Fargo has occupied this property since 2015 and recently extended their lease for another 5 years with no concessions, with four 5-year option periods remaining. The tenant is responsible for all common area maintenance, real estate taxes, and insurance costs under the passive NNN* lease structure. The landlord is only responsible for maintaining their own liability insurance, which is not reimbursed by the tenant. The NNN* lease also includes 10% rental increases every 5 years, including in each of the four 5-year option periods. This branch has a strong deposit history and 24-hour customer access via an on-site ATM. The property also features enhanced security measures, requiring a Wells Fargo debit or credit card swipe/tap for entry. The property is strategically positioned in a dense and growing Philadelphia trade area and benefits from strong demographics and convenient accessibility. Wells Fargo fronts on Allegheny Ave (14,000+ VPD), and is adjacent to a Bank of America branch. The property size is 1380 square feet.