5694 Rising Sun Ave Philadelphia, PA 19120

Property Details for 5694 Rising Sun Ave

Year built

1950

Lot size

3.05 lot acres

Property size

66,000 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, triple-net (NNN) leased storefront property located at 5694 Rising Sun Ave, Philadelphia, PA 19120. The property, totaling 66,000 square feet, is currently 100% occupied by Forman Mills, a well-established retailer operating 46 stores across nine states and Washington, D.C., under the corporate guarantee of Shoppers World. The lease, commencing March 17, 2003, has a remaining term of 8.4 years, expiring March 30, 2033, with built-in rental increases in 2026 and 2028. The property boasts a strong 7.13% cap rate and a substantial net operating income (NOI) of $800,000, with an asking price of $11,218,033 ($169.97/sq ft). Situated on a 3.05-acre lot, the single-story, 1950-built building features 120 parking spaces and is zoned CA-2. The property benefits from a high-traffic location, with approximately 30,000 cars daily passing the intersection of Rising Sun and Adams Avenues. Its convenient location is seven miles from downtown Philadelphia and directly adjacent to a SEPTA bus stop (Route 18). The surrounding area is densely populated, with over 423,000 residents within a three-mile radius, and includes numerous national tenants such as Bank of America, Wendy's, ShopRite, and others. This presents a rare opportunity to acquire a stable, high-performing retail investment in a prime Philadelphia location.