245 Wilkes Barre Township Blvd Wilkes Barre, PA 18702-6705
- Grocery and convenience stores
- 9.16 lot acres
Current Use by Public Records
- Price Chopper / Atm / Butcher Shop Deli
- Price Chopper Pharmacy / Pharmacy / Drug Store
- Western Union / Money Transfer Service
- Coinstar / Money Transfer Service
- Central Market Florist / Florist
Property Details for 245 Wilkes Barre Township Blvd
- Lot size
- 9.16 lot acres
- Property type
- Grocery and convenience stores
- APN
- 69-H10-00A-18T
- APU
- 69H1000A18T
Description
This exceptional investment opportunity presents a 64,252-square-foot Price Chopper grocery store located at 245 Wilkes Barre Township Blvd, Wilkes-Barre Township, PA 18702. The property sits on a 9.16-acre lot and boasts a 7.00% cap rate with a Net Operating Income (NOI) of $899,528. The asking price is $12,850,000, translating to $199.99 per square foot. This is a single-tenant, absolute NNN lease with Price Chopper, the third largest grocery chain in Luzerne County, holding a significant 8.20% market share. The lease commenced on December 1, 2008, and has a remaining term of approximately 9 years, with a 25-year initial term and one four-year and eleven-month option remaining. The property benefits from a corporate guarantee from The Golub Corporation, a subsidiary of Northeast Grocery Inc., with a B+ credit rating (Fitch). Built in 2008, the property enjoys 100% occupancy and is strategically located in Luzerne County's main retail corridor, within a 5-mile radius of 12 million square feet of retail space and a low 2.7% vacancy rate. Nearby major retailers include Walmart, Home Depot, Target, and many more. The property's proximity to Arena Hub Plaza, Wyoming Valley Mall, and Joe Amato East End Centre, which generate over 9 million annual visits, further enhances its desirability. The area also benefits from a substantial industrial hub and is situated near Kings College and Wilkes University, with a combined student population and employee base exceeding 7,800. This presents a compelling investment opportunity with a strong tenant, long-term lease, and prime location.
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
- Wilkes Barre
- County
- Luzerne
- State
- Pennsylvania
- Longitude
- -75.8598
- Latitude
- 41.2411
- CBSA code
- 42540
- CBSA name
- SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA
