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Drug Store

Walgreens (Dark) - Philadelphia Urban-Infill Re-Development Opportunity

4001 Kensington Ave, Philadelphia, PA 19124

Listing Price: $3,000,000

Cap Rate
9.00%
Tenant Name
Walgreens
Years Remaining On Lease
1.2
Gross SF
13,833
Guarantor
Corporate Guarantee
Rentable SF
13,833
Price/Gross SF
$216.87
Lease Type
Double Net
Rent Per Square Feet
$19.52

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a dark Walgreens in Philadelphia, PA. This site consists of approximately ±13,833 square feet of rentable building area and sits on approximately ±1.86 acres. Kensington is a neighborhood in the Lower Northeast area of Philadelphia, Pennsylvania. Low rents have led to a profusion of hip bars, as well as a flourishing brewery scene. The neighborhood's first craft brewer, Philadelphia Brewing Company, is set in a restored 19th-century brewery site. Frankford Avenue is a thriving hub of art galleries and performance spaces. Showcasing quirky parade floats, the Kensington Kinetic Sculpture Derby and Arts Festival is a popular spring event. The neighborhood has also recently seen a large influx of young urban professionals and gentrification. The United States Post Office operates the Kensington Post Office at 1602 Frankford Ave. The intersection of Kensington and Allegheny Avenues (commonly referred to by Philadelphians as "K & A") is a major transportation and retail hub in the Kensington neighborhood, as it is served by the Frankford Elevated portion of the Market–Frankford Line which, running on top of Kensington Avenue, dominates the intersection. SEPTA City Bus routes 3 (on Kensington Avenue, running underneath the "El") and 60 on Allegheny Avenue, with route 5 nearby on Frankford Avenue, also serve the K & A area.

Investment Highlights

  • Re-Development Opportunity
  • ±13,833 SF | ±1.86 Acres
  • 28,600+ VPD at Signalized Intersection
  • High Visibility and Easy Access from both Kensington Ave and E Hunting Park Ave
  • Large influx of young urban professionals and Gentrification

Exclusively Listed By

Drug Store

Walgreens (Dark) - Philadelphia Urban-Infill Re-Development Opportunity

Listing Price: $3,000,000

Cap Rate
9.00%
Tenant Name
Walgreens
Years Remaining On Lease
1.2
Gross SF
13,833
Guarantor
Corporate Guarantee
Rentable SF
13,833
Price/Gross SF
$216.87
Lease Type
Double Net
Rent Per Square Feet
$19.52

Investment Highlights

  • Re-Development Opportunity
  • ±13,833 SF | ±1.86 Acres
  • 28,600+ VPD at Signalized Intersection
  • High Visibility and Easy Access from both Kensington Ave and E Hunting Park Ave
  • Large influx of young urban professionals and Gentrification

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a dark Walgreens in Philadelphia, PA. This site consists of approximately ±13,833 square feet of rentable building area and sits on approximately ±1.86 acres. Kensington is a neighborhood in the Lower Northeast area of Philadelphia, Pennsylvania. Low rents have led to a profusion of hip bars, as well as a flourishing brewery scene. The neighborhood's first craft brewer, Philadelphia Brewing Company, is set in a restored 19th-century brewery site. Frankford Avenue is a thriving hub of art galleries and performance spaces. Showcasing quirky parade floats, the Kensington Kinetic Sculpture Derby and Arts Festival is a popular spring event. The neighborhood has also recently seen a large influx of young urban professionals and gentrification. The United States Post Office operates the Kensington Post Office at 1602 Frankford Ave. The intersection of Kensington and Allegheny Avenues (commonly referred to by Philadelphians as "K & A") is a major transportation and retail hub in the Kensington neighborhood, as it is served by the Frankford Elevated portion of the Market–Frankford Line which, running on top of Kensington Avenue, dominates the intersection. SEPTA City Bus routes 3 (on Kensington Avenue, running underneath the "El") and 60 on Allegheny Avenue, with route 5 nearby on Frankford Avenue, also serve the K & A area.

Exclusively Listed By

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