3300 Dekalb Pike Norristown, PA 19401

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