532 Hazle St Wilkes-Barre, PA 18702

Property Details for 532 Hazle St

Lot size

0.22 lot acres

Property size

2,000 SF

Property type

Retail properties

Property subtype

Gas stations

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Fuel On gas station located at 532 Hazle St, Wilkes-Barre, Pennsylvania, 18702. The property boasts a 2,000 square foot building situated on a 0.22-acre lot in a high-traffic area with over 17,000 vehicles passing daily. Currently operating under a 20-year absolute NNN lease with a reputable, growing operator of 36 units, this investment offers significant financial stability. The lease includes annual rent bumps of 2.5%, providing protection against inflation. The tenant is responsible for all property maintenance, insurance, and taxes, creating a truly passive investment for the owner. The asking price is $2,084,963, representing a price per square foot of $1,042.48 and an attractive 8.00% cap rate based on a current Net Operating Income (NOI) of $166,797. The lease features four 5-year renewal options, further enhancing the long-term value of this asset. Comprehensive financial records, including trailing three years of site-level financials and corporate financials, are available for review. This property also qualifies for bonus depreciation (60% in Year 1), offering significant tax advantages. This is a rare opportunity to acquire a stable, high-performing, and low-maintenance commercial property with substantial long-term growth potential.