1043 Front St Philadelphia, PA 19123
- Retail properties
- 8,104 SF
- 1.06 lot acres
Current Use by Public Records
- Carvana Philadelphia / Used Car Dealer
Property Details for 1043 Front St
- Year built
- 2018
- Lot size
- 1.06 lot acres
- Property size
- 8,104 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents the fee simple ownership of a freestanding Carvana dealership in Philadelphia, PA. The property, built in 2018, boasts 8,104 square feet on a 1.06-acre lot and includes 35 parking spaces. Currently operating at 100% occupancy, the property features an absolute NNN lease with a corporate guarantee from Carvana, extending to December 31, 2041, with four 5-year renewal options. Rent increases are tied to CPI, ensuring consistent NOI growth. The property enjoys a 6.75% cap rate and a strong NOI of $1,024,059. Its strategic location off Interstate 95, near I-676 and West Grand Avenue, provides excellent visibility and accessibility. The surrounding area features a dense population, including proximity to Temple University and the Fashion District Philadelphia, a top-performing regional mall, along with numerous national retailers and apartment complexes. The 5-mile trade area boasts over 968,000 residents and 648,000 daytime employees, with affluent average household incomes exceeding $145,000 within a 1-mile radius. The property is zoned for general commercial use and has a Philadelphia County APN of 88-2-9702-72. This is a truly exceptional, low-management investment opportunity with significant long-term potential. Asking price: $15,171,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1364
- Latitude
- 39.9668
