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Views: 124 DOM: 407 Updated: 10.30.24 Posted: 10.11.23 Status: Active

Summary

Price $1,785,000
Built/Renov 1974
Tenant Wells Fargo (GL)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,500
Lease Start 10-01-1974
#Units 6,968
Price/SF $510.00
Expiration 03-30-2027
Tenant Type Bank/Financial
NOI $125,000
R. Term 2.4
Ownership Ground Lease
Rent/SF $35.71
Increases 10.0%/4/yrs
Pop 5Mi 221,332
Lot/AC 1.14
Options 2/5yrs/10%
AHHI 5Mi $72,202

Lease Highlights

  • Wells Fargo has been operating in this location since 1974
  • Tenant has 2+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
  • Wells Fargo has over $236M at this location, an $82M or 53.25% year-over-year increase
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by Wells Fargo & Company (NYSE: WFC)

Location Description

Wells Fargo is situated on Schadt Avenue, which has a daily traffic count of 9,587 vehicles. Conveniently located just off MacArthur Road, the property benefits from a higher daily traffic count of 35,599 vehicles.The location offers a signaled intersection and multiple points of ingress/egress. It is an outparcel to MacArthur Commons, a prominent retail destination anchored by Giant,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wells Fargo
  • Guarantor:Corp T and Rated
  • Company:Wells Fargo & Company
  • # Units:6,968
  • Tenant S&P: BBB+
  • Moody’s: A1
  • Stock: NYSE: WFC

About Tenant

Wells Fargo & Company is an American multinational financial services company with operations in 35 countries and over 70 million customers globally. The firm's primary subsidiary is Wells...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,029 109,631 228,635
2023 Total Population : 8,938 108,932 226,688
2023 Employed Civilian Pop : 4,761 53,133 112,635
2023 Total Businesses : 680 3,899 7,491
2023 Average Household Income : $ 78,986 $ 75,474 $ 84,668
2023 Total Consumer Spending : $ 254 M $ 2677 M $ 6357 M
2023 Median Age : 47 38 40
2023 Total Households : 3,757 40,902 86,795
2023 Pop Age 25+: Bachelor's Degree : 1,212 10,360 27,208
2023 Average Home Value : $ 262,282 $ 239,646 $ 266,387
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Schadt Avenue Wolf St 2020 9,587 0.04 mi
Schadt Ave Albert St 2017 13,114 0.08 mi
Schadt Ave 2019 3,758 0.23 mi
Schadt Ave 2019 2,798 0.28 mi
MacArthur Road Lehigh Valley Mall 2022 16,982 0.40 mi
Main Street 3rd Ave 2022 10,544 0.50 mi
MacArthur Road Center Ave 2021 41,844 0.57 mi
Pine St Center St 2016 5,805 0.59 mi
MacArthur Road Joab Rd 2021 41,650 0.60 mi
MacArthur Road Beryl Ave 2019 13,821 0.60 mi

Listing Broker

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