Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

929 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Fulton Bank/Dance Studio 2700-2702 W Girard Ave

8,000 SF 100% Leased Retail Building Philadelphia, PA 19130 £1,628,869 (£204/SF) 7.50% Net Initial Yield

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

INVESTMENT HIGHLIGHTS

Fulton Bank (NASDAQ: FULT) is an investment grade tenant with over $26B in total assets, more than 50% of Fulton's footprint is in Greater Phila
100% occupied property with both tenants having 5+ years of lease term remaining with multiple renewal options
Property is adjacent to multiple large-mixed use developments and surrounding Brewerytown submarket is rapidly developing

Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance.
Corner location on West Girard Avenue and is easily accessible on foot, by car (over 6,500 vehicles per day), or public transportation
Extremely dense, infill Philadelphia location with 54,483 people within 1 mile, 505,356 people within 3 miles and 1,082,000 people within 5 miles

EXECUTIVE SUMMARY

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 8,000 square foot Fulton Bank property located in Brewerytown, a rapidly developing neighborhood of North Philadelphia. The Property recently underwent an exterior and interior renovation in 2018-2019, limited exposure to future deferred maintenance. Fulton Bank has more than 5 years remaining on a NNN* lease and ownership recently executed a new, 7-year lease with one five-year renewal - with significant rent increases during the initial term and annual increases in the option period - with a dance studio tenant for the second floor space.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Bank

Building Size

8,000 SF

Building Class

Year Built/Renovated

1940/1991

Price

£1,628,869

Price Per SF

£204

Net Initial Yield

7.50%

NOI

£122,165

Percent Leased

100%

Tenancy

Multiple

Number of Floors

Building FAR

2.00

Lot Size

0.09 AC

Opportunity Zone

Yes

Zoning

C2 - commerical

MAJOR TENANTS

Finance and Insurance
-
-
-

Fulton Financial Corporation is an asset financial holding company headquartered in Lancaster, Pennsylvania, providing a variety of financial services through its subsidiary bank in Pennsylvania, Maryland, Delaware, New Jersey and Virginia. The corporation also provides investment management and planning services for individuals and corporations through Fulton Financial Advisors and Fulton Private Bank. In addition, the company offers residential mortgage services through Fulton Mortgage Company.