7065 Lincoln Dr, Unit 81 Philadelphia, PA 19119-2541

Property Details for 7065 Lincoln Dr

Year built

1990

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.84 lot acres

Property size

8,165 SF

Zone code

CMX2

Property type

Retail space

APN

88-2-7262-10

APU

882726210

Description

This exceptional investment opportunity presents a fee-simple ownership of a CVS Pharmacy located at 7065 Lincoln Dr, Philadelphia, PA 19119. The property boasts 8,232 square feet on a 0.84-acre lot, situated in a high-traffic area with over 30,000 vehicles passing daily. Built in 2003, the building is classified as Class B and is zoned CMX2 – Mixed Use, offering potential for future development. The property is currently under an absolute NNN lease with a corporate guarantee from CVS Pharmacy, significantly reducing landlord responsibilities. The lease, with a remaining term of 8.2 years, extends to January 31, 2033, and includes an early renewal option exercised by the tenant, demonstrating strong performance and commitment to the location. The property's Net Operating Income (NOI) is $345,272, resulting in a 6.85% cap rate. The asking price is $5,040,467, translating to a price per square foot of $612.30. The property benefits from its proximity to the affluent Chestnut Hills neighborhood, boasting an average household income of $155,900. This combination of a strong tenant, long-term lease, and desirable location makes this a compelling investment opportunity in the Philadelphia market. The property's strategic location and zoning provide significant long-term value-add potential.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Longitude

-75.1933

Latitude

40.0542

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments