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    1500 Front St Philadelphia, PA 19147

    Sponsored
    For Sale
    $499,900

    Philadelphia NNN investment, high ROI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This fee-simple property in Philadelphia, PA, offers a rare opportunity to acquire a 1,845 sq ft NNN ground lease with Verizon Wireless, an investment-grade tenant (S&P BBB+). The lease, located at 1500 S Front St, Philadelphia, PA 19147, has a remaining term of approximately 1.9 years, expiring September 30, 2026, with lease options extending through September 30, 2036. The current annual net operating income (NOI) is $20,125, yielding a pro-forma cap rate of 4.03% based on the asking price of $499,900. Rent increases by 15% every five years, providing significant long-term growth potential. The property is zoned I-2 and sits in a high-demand area with substantial traffic counts (over 123,000 vehicles daily on I-95 nearby) and high population density. Verizon has occupied the site since 1996, recently completing facility improvements and expanding the lease. As a NNN lease, the tenant is responsible for all property expenses, including maintenance, utilities, insurance, and property taxes, minimizing landlord responsibilities. Monthly rent is directly deposited. This presents a low-maintenance, high-return investment with a blue-chip tenant in a prime location. The property's strategic location near I-95 and within a thriving riverfront community adds to its value. The adjacent area features new luxury residential developments, indicating strong property appreciation potential. This is a truly exceptional opportunity for passive income generation and long-term capital appreciation.

    Property Features for 1500 Front St

    General Information

    Property type
    Land

    HighLights

    • Prime, small‑scale investment opportunity in Philadelphia's desirable Pennsport neighborhood.
    • Excellent location near I‑95 (123,000+ VPD) in the upscale Pennsport riverfront area of Center City.
    • Long‑term, triple‑net (NNN) ground lease with 15% rent increases every five years.
    • Secure investment with a Verizon Wireless (S&P BBB+ rated) tenant.
    • Zero landlord responsibilities; tenant handles all maintenance, utilities, insurance, and property taxes. Monthly rent payments are automatically deposited.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.147586472095
    Latitude
    39.929007778688

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    FAQs

    What type of property is this?
    Land - Philadelphia NNN investment, high ROI.
    Where is this land located?
    The property is located at 1500 Front St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Prime, small-scale investment opportunity in Philadelphia's desirable Pennsport neighborhood.; Excellent location near I-95 (123,000+ VPD) in the upscale Pennsport riverfront area of Center City.; Long-term, triple-net (NNN) ground lease with 15% rent increases every five years.
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    Philadelphia, PA 19147
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1500 Front St Philadelphia, PA 19147
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