3300 Dekalb Pike East Norriton, PA 19401-1529

Property Details for 3300 Dekalb Pike

Year built

2006

Lot size

2.09 lot acres

Property size

13,650 SF

Zone code

AR

Property type

Outlet malls

APN

33-00-01849-00-8

APU

330001849008

Description

This exceptional investment opportunity presents a freestanding Walgreens pharmacy located at 3300 Dekalb Pike in Norristown, Pennsylvania. The property boasts a 13,650 square foot building on a 2.09-acre lot, constructed in 2006. It features an absolute NNN lease structure, eliminating all landlord responsibilities. The current lease with Walgreens, a highly reputable tenant, commenced April 12, 2006, and expires April 30, 2031, with ten 5-year renewal options. The property enjoys 100% occupancy, generating a strong net operating income (NOI) of $455,000, resulting in an attractive 8.15% cap rate. The asking price is $5,580,000. This prime location benefits from high traffic counts (over 36,000 vehicles daily on Dekalb Pike and E Township Line Rd.), a dense population (over 175,000 people within a 5-mile radius), and a high average household income (over $128,000 within 1 mile). Projected population growth within a 1-mile radius is 4.37% over the next 5 years, further enhancing the long-term value of this investment. The property's proximity to Philadelphia (approximately 20 miles) adds to its strategic appeal. This is a rare opportunity to acquire a stable, high-performing retail asset with significant upside potential.

Location Insight

City

East Norriton

County

Montgomery

State

Pennsylvania

Longitude

-75.3075

Latitude

40.1478

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments