4614 Penn Ave Reading, PA 19608
- Retail properties
- 2,400 SF
- 1.72 lot acres
Current Use by Public Records
- Retail properties
Property Details for 4614 Penn Ave
- Year built
- 2024
- Lot size
- 1.72 lot acres
- Property size
- 2,400 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple owned, 2,400 square foot Starbucks located at 4614 Penn Ave, Sinking Spring, PA 19608. The property sits on a 1.72-acre lot and boasts a brand-new, 2024 construction featuring a drive-thru. This single-tenant, corporate-guaranteed net lease with Starbucks (S&P: BBB+) offers a remaining lease term of 10.3 years, expiring February 28, 2035, with four 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $165,000, resulting in a 5.75% cap rate. The property benefits from a high-traffic location at a signalized intersection of Penn Ave and Green Valley Rd, averaging 30,700 vehicles per day. Surrounding retailers include Popeyes, Sheetz, Dollar Tree, Wendy's, and Tractor Supply Co. The 5-mile trade area boasts over 94,000 residents and 57,800 employees, with an affluent average household income of $139,331 within a 1-mile radius. This is a low-management investment with the tenant responsible for taxes, insurance, and most maintenance. The asking price is $2,870,000. This is a rare opportunity to acquire a high-performing, free-standing Starbucks with significant long-term growth potential.
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
- Reading
- County
- Berks
- State
- Pennsylvania
- Longitude
- -76.0381
- Latitude
- 40.3266
