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FLUENT 648 Frederick St

4,928 SF Retail Building Hanover, PA 17331 £2,315,610 (£470/SF) 10.25% Net Initial Yield

Investment Highlights

  • Attractive Cap Rate: The property is being offered at a compelling 10.25% cap rate.
  • The base rent is scheduled to increase by 7.14% in June 2025, presenting an excellent opportunity for increased investment returns.
  • Zero Landlord Responsibilities: This property is on a NNN lease, making it ideal for investors seeking no landlord responsibilities.
  • This location benefits from minimal competition, with the nearest competing dispensary in Pennsylvania located over 13 miles from the subject property

Executive Summary

Broker of Record
Kyle Matthews
License No. RB068831 (PA)

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
4,928 SF
Building Class
C
Year Built
1930
Price
£2,315,610
Price Per SF
£470
Net Initial Yield
10.25%
NOI
£237,350
Tenancy
Single
Number of Floors
1
Building FAR
0.15
Lot Size
0.73 AC
Zoning
CM - This zoning is designed for wholesale businesses and storage, and is intended to bridge commercial retail with industrial activities. It excludes more
Parking
35 Spaces (7.1 Spaces per 1,000 SF Leased)
Frontage
157 ft on Frederick Street

Links

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PROPERTY TAXES

Parcel Number 44-000-07-0111.00-00000 Improvements Assessment £215,102
Land Assessment £44,609 Total Assessment £259,711

PROPERTY TAXES

Parcel Number
44-000-07-0111.00-00000
Land Assessment
£44,609
Improvements Assessment
£215,102
Total Assessment
£259,711
(305) 905-3215

Contact

  • Listing ID: 33773613

  • Date on Market: 06/11/2024

  • Last Updated:

  • Address: 648 Frederick St, Hanover, PA 17331

The Retail Property at 648 Frederick St, Hanover, PA 17331 is currently available for sale. Contact Matthews Real Estate Investment Services for more information.

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648 Frederick St, Hanover, PA for sale Building Photo- Image 1 of 4
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© 2024 CoStar Group

FLUENT | 648 Frederick St
(305) 905-3215 x

FLUENT | 648 Frederick St

Alexander Machado

(305) 905-3215

(305) 905-3215

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