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Pennsylvania Dept. of Conservation & Natural Resources

3240 Schoolhouse Road, Middletown, PA 17057

$7,735,000

Cap Rate 8.50%

Views: 38 DOM: 72 Updated: 11.08.24 Posted: 09.10.24 Status: Active 09.10.24

Summary

Price $7,735,000
Built/Renov 1981/2022
Tenant Pennsylvania Dept. of Conservation & Natural Resources
Cap Rate 8.50%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 40,671
Lease Start 08-12-2022
#Units 1
Price/SF $190.18
Expiration 08-11-2032
Tenant Type Government
NOI $657,409
R. Term 7.8
Ownership Fee Simple
Rent/SF $16.16
Increases 16.7%/3/yrs
Pop 5Mi 75,271
Lot/AC 13.14
Options 1/5yrs/10.71%
AHHI 5Mi $103,671

Marc Mandel
Forged Real Estate
Contact

Steve Schrenk
Forged Real Estate
Contact

Lease Highlights

  • Pennsylvania Dept. of Conservation & Natural Resources has 7+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features a 16.67% rental increase on 8/12/2027
  • Corporate guarantee | Investment grade tenant

Location Description

Pennsylvania Department of Conservation & Natural Resources is strategically located on Schoolhouse Road, with access to 35,900 vehicles passing by daily. The property is just seconds from State Route 283, which sees 35,900 VPD, and is situated under 9 miles from downtown Harrisburg, the state capital of Pennsylvania. Additionally, it is less than three and a half miles from Interstate Highway...

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Key Features

  • Recent renovation

  • Build to suit

  • Near major nationals

  • Strategically located

  • Freeway close

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Corporate Guarantee

  • Investment grade tenant

  • Credit rated company

    • ...

Links

PA Dept. of Conservation PA Dept. of Conservation & Natural Resources Wikipedia Middletown, Pennsylvania Zip Code 17057 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: PA Dept. of Conservation
  • Guarantor:Corp Rated
  • Company:Commonwealth of Pennsylvania
  • # Units:1
  • Moody’s: Aa3
  • Stock:Private

About Tenant

The Pennsylvania Department of Conservation and Natural Resources (DCNR), established in 1995, is the agency in the state of Pennsylvania responsible for maintaining and preserving the state's...


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Listing Broker

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