14 Spring St, Tremont, PA 17981

Property Details for 14 Spring St

Year built

2006

Lot size

0.72 lot acres

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a single-tenant, 8,000 square foot Family Dollar store located at 14 Spring Street, Tremont, PA 17981. The property sits on a 0.72-acre lot and boasts 30 parking spaces. Built in 2006, this Class C retail building benefits from a strong NNN lease with a credit-rated corporate guarantor, offering 7.1 years remaining on the current term, plus two five-year renewal options, representing a total of 25 years of tenant commitment. The lease commenced January 1, 2022, and expires December 31, 2031, with 10% rent bumps at each option period. The current Net Operating Income (NOI) is $70,180, with a pro-forma NOI of $77,198, resulting in a current cap rate of 8.00% and a pro-forma cap rate of 8.80%. The asking price is $877,000, translating to a price per square foot of $109.62. The property enjoys 100% occupancy since its opening on January 1, 2022. The location is highly accessible, situated near major highways including I-81 (2 miles) and US-209 (1 mile), and benefits from high traffic counts on nearby roads. The property is zoned commercial and features 143 feet of frontage on Spring Street. The Family Dollar store has demonstrated strong sales performance, experiencing a 12.22% increase from 2021 to 2023, and high foot traffic, with 116,900 visits in the last 12 months. Furthermore, the property has expansion potential, with approved plans to increase the building size to 10,500 square feet. The tenant is slated for renovations in 2025. This presents a compelling investment opportunity with significant upside potential.

Location Insight

City

Tremont

County

Schuylkill

State

Pennsylvania

Longitude

-76.3873

Latitude

40.6296