Investment Summary
Price | $2,187,000 |
Cap Rate | |
NOI | |
Lease Term | 20 Years |
Lease Type | Absolute NNN Lease, with Tenant Responsible for All Taxes, Insurance, Maintenance, and Repair, Including Roof, Structure, and Parking Lot |
Rental Increases | 3% Annual Rental Increases |
Year Built | TBD |
Building Size | 1,809 SF |
Lot Size | 0.47 Acres (20,608 SF) |
Status | Sold |
Lead Brokers | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 20-year NNN lease with three percent annual rental increases, providing an excellent hedge against inflation
» Guaranteed by Farm Stores Franchising, LLC (70+ Locations)
» Swiss Farms is a wholly owned subsidiary of Farm Stores
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, an Ideal opportunity for an out-of-area investor
HIGH-TRAFFIC LOCATION IN POPULATED AND AFFLUENT AREA
» Irreplaceable infill location at the intersection of Arlington Avenue and McDade Boulevard, which experiences a high traffic count of 26,671 vehicles per day
» Convenient access to Interstate 95 and Interstate 476 (combined 225,787 vehicles per day), significantly increasing commuter visibility to the site
» Prime location in densely populated area, with 288,156 residents living within five miles of the property
» Average household income of $98,034 within one mile of the property
» Projected nine percent AAHI increase within five miles of the site in the next five years, poising Folsom and Swiss Farms for significant concurrent growth
EXCELLENT LOCATION IN HIGH GROWTH MARKET NEAR COMMUNITY ATTRACTIONS AND HUBS
» Surrounded by a strong mix of well-established local and national retailers, including Wawa, ACME Markets, The Home Depot, McDonald’s, Chick-fil-A, Bank of America, and many more
» Within five miles of eight major shopping centers with a combined 215 stores and 2.6 million SF of retail space, attracting foot traffic to the location
» Three miles from the Delaware River, which generates $22.5 billion in annual economic impact from recreation, water quality and supply, ecotourism, forest, agriculture, open space, and port benefits
» Seven miles from Philadelphia International Airport (services 31.7 million annual passengers), greatly increasing visitor traffic to the site
UNIQUE DOUBLE DRIVE-THRU GROCERY STORE CONCEPT
» Swiss Farms is a double drive-thru convenience store chain that sells the grocery and food service items that consumers purchase most frequently and delivers them in the most convenient way possible
» Stores are commuter-friendly and set up for people who need to pick up a few items on the way home from work, making Swiss Farms a perfect fit for suburban areas
» Swiss Farms focuses on convenient and fresh groceries with superior speed and convenience that appeals to Millennials and Gen Z shoppers
Property Description
SOLD
The property has a strategic and irreplaceable infill location at the intersection of Arlington Avenue and McDade Boulevard, which experiences a high traffic count of 26,671 vehicles per day. The location benefits from its nearby proximity to Interstate 95 and Interstate 476, which experience a combined traffic count of 225,787 vehicles per day, significantly increasing commuter visibility to the site. The property is set in a prime location in a densely populated and affluent area, with 288,156 residents living within five miles. The average household income within three miles of the location is $98,034. The property is primed to grow along with the surrounding area, with a projected nine percent average annual household income increase within five miles of the site in the next five years.
The property benefits from its prime location in the heart of a rapidly growing market. The property is surrounded by a strong mix of well-established local and national retailers, including Wawa, ACME Markets, The Home Depot, McDonald’s, Chick-fil-A, Wells Fargo, Bank of America, and many more. The property is also within five miles of eight major shopping centers with a combined 215 stores and 2.6 million SF of retail space, attracting foot traffic to the location. Visibility to the location is greatly increased by its proximity three miles from the Delaware River, which generates $22.5 billion in annual economic impact from recreation, water quality and supply, ecotourism, forest, agriculture, open space, and port benefits. The site is also just seven miles from Philadelphia International Airport, a major U.S. transit hub which services 31.7 million annual passengers, greatly increasing visitor traffic to the site.