335 Lancaster Ave Malvern, PA 19355
- Office Properties & Spaces
- 15,497 SF
- 3.71 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 335 Lancaster Ave
- Year built
- 2008
- Lot size
- 3.71 lot acres
- Property size
- 15,497 SF
- Zone code
- C3
- Property type
- Office Properties & Spaces
- APN
- 4204 008701A0
- APU
- 4204008701A0
Description
This exceptional investment opportunity presents a fee-simple ownership of a CVS Pharmacy located at 335 Lancaster Ave, Frazer, PA 19355, in Chester County. The property boasts a 12,900 square foot building situated on a 1.94-acre lot. The property is subject to a 25-year absolute triple-net (NNN) lease with CVS Pharmacy, commencing January 31, 2009, and expiring January 31, 2034. With approximately 9.2 years remaining on the lease term, this investment offers significant long-term stability. The current annual net operating income (NOI) is $548,667, representing a 7.00% capitalization rate. The lease is backed by a corporate guarantee from CVS, providing strong creditworthiness. The property benefits from excellent visibility and accessibility from Lancaster Avenue, serving a densely populated area with high average household incomes. Within a 10-mile radius, there are approximately 390,600 residents with an average household income exceeding $145,500. The property includes a drive-thru pharmacy for added convenience. The asking price is $7,838,100, translating to a price per square foot of $607.60. This single-story building presents a compelling investment opportunity due to its strong tenant, long-term lease, and prime location less than 28 miles from Philadelphia.
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
- Malvern
- County
- Chester
- State
- Pennsylvania
- Longitude
- -75.5513
- Latitude
- 40.0396
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
