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Auto Service - Gas-Conv

Sunoco (Philadelphia MSA) | 48K+ VPD | High Barriers to Entry

511 W Germantown Pike, Plymouth Meeting, PA 19462

Listing Price: $5,229,497

Cap Rate
5.57%
Tenant Name
Sunoco
Years Remaining On Lease
0.5
Gross SF
32,324
Guarantor
Corporate Guarantee
Rentable SF
4,875
Price/Gross SF
$161.78
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$59.75

Investment Overview

Marcus & Millichap is pleased to exclusively present this Sunoco gas station. This site consists of approximately 4,875 rentable square feet and is situated on 0.74 acre (32,234 SF) of land. This Sunoco gas station has approximately 11 years remaining on its extremely early executed 10-Year Lease Extension from 2018, true triple-net (NNN) lease with three (3) five-year renewal options. Subjected to a two percent (2.00%) annual rental escalation, the current annualized rent is $291,283 ($24,274/Month). Located along an extremely high barriers-to-entry corridor, this Sunoco gas station is easily accessible to Interstate 476 and Pennsylvania Turnpike that combine for more than 182,000+ vehicles per day (VPD). This site sees traffic counts in excess of 48,000+ VPD along W Germantown Pike. The average household income is $122,000 in a one-mile radius and is $119,000 in a five-mile radius. In terms of the population count, there are approximately more than 181,000 residents within a five-mile radius. This Sunoco gas station is well-positioned directly across from the recently renovated Plymouth Meeting Mall, the largest Whole Foods Market in the Philadelphia area, and other major retail stores including Boscov’s, AMC Theatres, Redstone American Grill, Benihana, P.F. Chang’s, California Pizza Kitchen, Zoe’s Kitchen, Dave & Buster’s. It is also located only 1.6 miles away from the Metroplex Shopping Center that includes Target, Giant, Lowe’s, Barnes & Noble, Dick’s Sporting Goods, PetSmart, and Best Buy.

Investment Highlights

  • Triple (NNN) Net Lease | Zero Landlord Responsibilities
  • Long-Term Lease | 11 Years Remaining in Base Term | Extremely Early 10-Year Lease Extension Executed in 2018
  • Two Percent (2%) Rent Increases Annually in the Base Term and Rare CPI-Adjusted Rent Increases in Option Terms
  • 15-Year Accelerated Depreciation Schedule for Major Tax Benefits Corporate Guaranteed Lease | 8-Pumps Total
  • Fee Simple Interest | Note: This is NOT a ground lease. The Landlord owns the building, canopy and gas pumps and can depreciate on an accelerated schedule.
  • High Barriers-to-Entry Corridor
  • 48.600+ Vehicles Per Day (VPD) | Conveniently Located a Quarter Mile (0.25 Mile) Away from I-476 and I-276 that Combine for 182,000+ VPD
  • Average Household Income Exceeds $119,000 in a 5-Mile Radius | Population Count of 181,000+ Residents in a 5-Mile Radius

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Sunoco (Philadelphia MSA) | 48K+ VPD | High Barriers to Entry

Listing Price: $5,229,497

Cap Rate
5.57%
Tenant Name
Sunoco
Years Remaining On Lease
0.5
Gross SF
32,324
Guarantor
Corporate Guarantee
Rentable SF
4,875
Price/Gross SF
$161.78
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$59.75

Investment Highlights

  • Triple (NNN) Net Lease | Zero Landlord Responsibilities
  • Long-Term Lease | 11 Years Remaining in Base Term | Extremely Early 10-Year Lease Extension Executed in 2018
  • Two Percent (2%) Rent Increases Annually in the Base Term and Rare CPI-Adjusted Rent Increases in Option Terms
  • 15-Year Accelerated Depreciation Schedule for Major Tax Benefits Corporate Guaranteed Lease | 8-Pumps Total
  • Fee Simple Interest | Note: This is NOT a ground lease. The Landlord owns the building, canopy and gas pumps and can depreciate on an accelerated schedule.
  • High Barriers-to-Entry Corridor
  • 48.600+ Vehicles Per Day (VPD) | Conveniently Located a Quarter Mile (0.25 Mile) Away from I-476 and I-276 that Combine for 182,000+ VPD
  • Average Household Income Exceeds $119,000 in a 5-Mile Radius | Population Count of 181,000+ Residents in a 5-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present this Sunoco gas station. This site consists of approximately 4,875 rentable square feet and is situated on 0.74 acre (32,234 SF) of land. This Sunoco gas station has approximately 11 years remaining on its extremely early executed 10-Year Lease Extension from 2018, true triple-net (NNN) lease with three (3) five-year renewal options. Subjected to a two percent (2.00%) annual rental escalation, the current annualized rent is $291,283 ($24,274/Month). Located along an extremely high barriers-to-entry corridor, this Sunoco gas station is easily accessible to Interstate 476 and Pennsylvania Turnpike that combine for more than 182,000+ vehicles per day (VPD). This site sees traffic counts in excess of 48,000+ VPD along W Germantown Pike. The average household income is $122,000 in a one-mile radius and is $119,000 in a five-mile radius. In terms of the population count, there are approximately more than 181,000 residents within a five-mile radius. This Sunoco gas station is well-positioned directly across from the recently renovated Plymouth Meeting Mall, the largest Whole Foods Market in the Philadelphia area, and other major retail stores including Boscov’s, AMC Theatres, Redstone American Grill, Benihana, P.F. Chang’s, California Pizza Kitchen, Zoe’s Kitchen, Dave & Buster’s. It is also located only 1.6 miles away from the Metroplex Shopping Center that includes Target, Giant, Lowe’s, Barnes & Noble, Dick’s Sporting Goods, PetSmart, and Best Buy.

Exclusively Listed By

Financing By

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