1620 Mount Hope Ave Pottsville, PA 17901
- Retail properties
- 4,200 SF
- 0.33 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1620 Mount Hope Ave
- Year built
- 1999
- Lot size
- 0.33 lot acres
- Property size
- 4,200 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This fee-simple medical office building presents a compelling investment opportunity. Located at 1620 Mt Hope Ave, Pottsville, PA 17901, this 4,200 square foot property boasts a strong 8.25% cap rate and a 7.1-year lease with Spark Orthodontics, a dental support organization with approximately 50 locations. The lease commenced December 29, 2021, and expires December 28, 2031, featuring a 100% occupancy rate and 3% annual rent increases, providing a hedge against inflation. The building, constructed in 1999 and renovated in 2016, sits on a 0.33-acre lot and is situated near local schools. The current net operating income (NOI) is $65,564, with an asking price of $794,711 ($189 per square foot). The property is a single-tenant, net lease (NNN) investment, offering minimal landlord responsibilities. Lease options include 1 and 5-year extensions. This is an ideal property for investors seeking a passive income stream in a recession-resistant sector, benefiting from the stability of a long-term lease with a well-established tenant in a growing industry. The tenant's current rent is below the average for orthodontic practices, offering potential for future appreciation. This property is a strong addition to any diversified 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
- Pottsville
- County
- Schuylkill
- State
- Pennsylvania
- Longitude
- -76.2178
- Latitude
- 40.6854
