651 Airport Rd Hazle Township, PA 18202
- Retail properties
- 48,804 SF
- 12.21 lot acres
Current Use by Public Records
- Hazleton Honda / Honda Dealer
- Hazleton Honda Parts / Honda Dealer / Auto Sunroof Shop
- Hazleton Honda Service / Car Battery Store / Tire Shop
Property Details for 651 Airport Rd
- Year built
- 2016
- Lot size
- 12.21 lot acres
- Property size
- 48,804 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 48,804 square foot auto dealership in Hazle Township, Pennsylvania, situated on a 12.21-acre lot at 651 Airport Rd, 18202. The property, built in 2016, is currently operating at 100% occupancy under a Net Lease (NNN) agreement with a 20-year term remaining. The lease features a 2% annual rent increase, projecting a 49% rent increase over the initial lease term. Furthermore, four 5-year renewal options exist, potentially leading to a 121% rental increase over a 40-year period. The current Net Operating Income (NOI) stands at $1,200,000, yielding an attractive 7.25% capitalization rate. The asking price is $16,551,724. The tenant, Timbrook Management, operates multiple brand-name dealerships across Pennsylvania, Maryland, and West Virginia, providing a strong corporate guarantee. This NNN sale-leaseback transaction offers a secure, long-term investment with substantial built-in rental growth potential. The property's prime location and strong tenant history make it an ideal addition to any diversified investment portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hazle Township
- County
- Luzerne
- State
- Pennsylvania
- Longitude
- -76.0078
- Latitude
- 40.9886
