601 Pottstown Pike Exton, PA 19341-1660

Property Details for 601 Pottstown Pike

Year built

1977

Lot size

0.80 lot acres

Property size

7,100 SF

Zone code

PC

Property type

Banks

APN

3305 00450000

APU

330500450000

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN leased bank building occupied by Key Bank, the 17th largest US bank by revenue. Located in Exton, Pennsylvania, a high-income suburb of Philadelphia, this property boasts a prime location at a busy, signalized intersection on Pottstown Pike, a major six-lane thoroughfare with an impressive 45,264 average daily traffic count. The 3,575 square foot building features a double drive-thru and drive-up ATM, providing excellent visibility and accessibility. The current lease with Key Bank has a remaining term of 8.3 years, with three 5-year renewal options, and includes a recently executed early extension. The lease features a 2% annual rent increase after year two, ensuring consistent income growth. The property also includes 33 parking spaces and sits on a 0.8-acre lot. With a strong tenant, a desirable location, and a substantial remaining lease term, this property offers a compelling investment opportunity with a 6.50% cap rate and a net operating income (NOI) of $175,000. Exton's thriving economy, high average household income, and strong population growth further enhance the property's long-term value. The property's location near major retailers and high-quality schools adds to its appeal. This is a rare opportunity to acquire a stable, high-performing asset in a prime location. The asking price is $2,692,000, representing a price per square foot of $753.01. The property's strong financials, coupled with its strategic location and credit-rated tenant, make it an ideal investment for both individual and institutional investors.