500 Oak St Frackville, PA 17931

Property Details for 500 Oak St

Property size

2,527 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This investment opportunity presents a 2,527 square foot medical office building in Frackville, Pennsylvania, currently leased to Phoenix Physical Therapy under a Net Lease agreement. The property, located at 500 W Oak St, boasts a strong 8.00% cap rate based on a Net Operating Income (NOI) of $42,242. The lease, commencing June 4, 2014, and recently extended, has a remaining term of approximately 5 years, expiring October 31, 2029, with attractive 2.5% annual rent increases. The tenant, Phoenix Physical Therapy, with over 150 locations (75 in Pennsylvania), is responsible for grass cutting, snow removal, and HVAC maintenance (up to $500 per occurrence). Landlord responsibilities include roof, structure, and parking lot maintenance. Tenant contributes $380 monthly towards CAM, taxes, and insurance, with annual reconciliation of these expenses. The building, renovated in 2014, features a synthetic rubber membrane roof installed in 2023. The property enjoys a high-traffic location, with over 7,500 vehicles passing daily, situated on a hard corner in the heart of Frackville, a borough experiencing projected population growth through 2028. The surrounding area has a strong residential presence, with over 8,000 households within a five-mile radius, also projected to increase. The asking price is $528,025, translating to a price per square foot of $208.95. The lease includes two, five-year options. Frackville's convenient location, directly off Interstate-81, and proximity to Scranton and Philadelphia, further enhances this investment's appeal.

Location Insight

City

Frackville

County

Schuylkill

State

Pennsylvania

Longitude

-76.2369

Latitude

40.7818