677 W Dekalb Pike King of Prussia, PA 19406

Property Details for 677 W Dekalb Pike

Year built

2024

Lot size

0.30 lot acres

Property size

2,600 SF

Property type

Retail space

Property subtype

Storefront properties

APN

58-00-06382-01-3

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,600-square-foot AT&T retail storefront in King of Prussia, Pennsylvania. Built in 2024, the property boasts a 10-year NNN lease with two 5-year renewal options, ensuring long-term stability. The lease includes 10% rental increases every five years, providing built-in protection against inflation and a steadily growing net operating income (NOI) currently at $328,900, representing a 5.50% cap rate on the $5,980,000 asking price. The property sits on a 0.3-acre lot with 14 parking spaces and benefits from excellent visibility at a signalized intersection of Wilson Road and West Dekalb Pike, a high-traffic area with over 34,000 vehicles daily. Its strategic location adjacent to the King of Prussia Mall, the largest mall in Pennsylvania, and proximity to major highways (I-276, I-76, US-422) and numerous national retailers (Target, Walmart, Costco, etc.) ensures high consumer traffic and strong tenant synergy. The property is also conveniently located near several large apartment complexes, providing a substantial residential customer base. The 5-mile trade area boasts over 195,000 residents and 180,000 daytime employees with an average household income exceeding $157,000. The property is zoned CL - Limited Commercial and has the APN 58-00-06382-01-3. This is a low-management, high-yield investment opportunity with significant upside potential. 100% occupancy.