92 Pennsylvania Ave Wilkes-Barre, PA 18701
- Retail properties
- 5,755 SF
- 0.74 lot acres
Current Use by Public Records
- Retail properties
Property Details for 92 Pennsylvania Ave
- Lot size
- 0.74 lot acres
- Property size
- 5,755 SF
- Property type
- Retail properties
- Property subtype
- Gas stations
Description
This exceptional investment opportunity presents the sale-leaseback of a thriving Fuel On gas station located at 92 S Pennsylvania Ave, Wilkes-Barre, PA 18701. The property boasts a 20-year absolute NNN lease with a reputable, growing operator managing 36 units, providing strong financial guarantees. The lease features annual 2.5% rent bumps, safeguarding against inflation. With a total square footage of 5,755, the property sits on a 0.74-acre lot and enjoys high traffic counts exceeding 21,000 vehicles daily. The asking price is $3,575,150, representing a compelling cap rate of 8.00% and a price per square foot of $621.23. The property's strong financial performance is evidenced by a Net Operating Income (NOI) of $286,012, and three years of site-level financials are available for review. The lease includes four 5-year renewal options, further enhancing the long-term value of this investment. The tenant is responsible for all property maintenance, insurance, and taxes, offering a truly passive investment opportunity. This property also qualifies for bonus depreciation (60% in Year 1). This is a fee simple ownership opportunity.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wilkes-Barre
- County
- Luzerne
- State
- Pennsylvania
- Longitude
- -75.882
- Latitude
- 41.2418
