8525 Frankford Ave, Philadelphia, PA 19136
- Retail space
- 10,125 SF
- 0.71 lot acres
Current Use by Public Records
- CVS Photo / (Bike/Boat/Book/etc) Store
- Santander Bank ATM / Atm
- CVS Pharmacy / Pharmacy
- LibertyX Bitcoin ATM / Atm
- Coinhub Bitcoin ATM Teller / Atm
Property Details for 8525 Frankford Ave
- Year built
- 2000
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.71 lot acres
- Zone code
- CA1
- Property type
- Retail space
- APN
- 88-2-8870-00
- APU
- 882887000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 11, 2016 | $5,250,000 | Super Salvage INC | Frank Brown Realty Assocs LP | Grant Deed | — |
| Apr 11, 2011 | — | Frank Brown Realty Assocs LP | — | Deed Of Trust · related | $18.6M · Wells Fargo Bank |
| Feb 24, 2011 | $3,525,000 | Frank Brown Realty Assocs LP | Frankford-benson LP | Grant Deed | — |
| — | — | Frank Brown Realty Assocs LP | — | Deed Of Trust · related | $3.2M · Wells Fargo Bank |
Description
This exceptional investment opportunity presents a fee-simple, single-tenant CVS Pharmacy located at 8525 Frankford Avenue in Philadelphia, Pennsylvania. The property boasts 10,125 square feet on a 0.72-acre lot, featuring 40 parking spaces. Built in 1999 and renovated in 2023, this property benefits from a new roof installed in March 2022, with a warranty in place. The current lease, a Net Lease (NN) with a corporate guarantee, has a remaining term of 11.3 years, expiring February 28, 2036. The asking price is $4,800,000, representing a price per square foot of $474.07 and a 5.99% cap rate, with a current NOI of $287,500. This prime retail location is situated on a hard corner in a densely populated area, with over 500,000 residents and over 180,000 households within a five-mile radius. Its proximity to major area hospitals further enhances its desirability. The property is zoned C7 and has been operating successfully for over 25 years. The lease includes escalations in the renewal option, providing for future income growth. This is a rare opportunity to acquire a stable, high-performing investment property with a strong tenant and significant remaining lease term. The property's location, tenant strength, and lease terms make it an attractive investment for discerning buyers. APN: 882887000.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,905,000
- 6.5%
- $1,760,000
- 7%
- $1,635,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,607,000
- AI Estimate
- $2,150,000
Market price range: $842k - $2.61MMarket price range: $855k - $2.15M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,970,000 Current use
- RESTAURANT
- $3,135,000 Change: +59% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $2,815,000 Change: +43% Conversion: Difficult
- OFFICE BUILDING
- $2,575,000 Change: +31% Conversion: Easy
- MEDICAL BUILDING
- $2,485,000 Change: +26% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,880,000 Change: -5% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $1,595,000 Change: -19% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.0156
- Latitude
- 40.0458
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
