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Views: 70 DOM: 182 Updated: 11.07.24 Posted: 05.17.24 Status: Active

Summary

Price $12,850,000
Built/Renov 2008
Tenant Price Chopper
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 64,252
Lease Start 12-01-2008
#Units 130
Price/SF $199.99
Expiration 11-30-2033
Tenant Type Grocery
NOI $899,528
R. Term 9.0
Ownership Fee Simple
Rent/SF $14.00
Increases 3.6%/4/yrs
Pop 5Mi 118,005
Lot/AC 9.16
Options 1/4yrs/6.9%
AHHI 5Mi $73,985

Lease Highlights

  • Price Chopper has been operating in this location since 2008
  • The tenant has 9 years remaining on the current lease term with 1 (4 year, 11 months) option to extend
  • The lease features a 3.57% rental increase in 2028, and 6.9% at the start of the remaining option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Price Chopper is strategically located on Wilkes-Barre Township Blvd, with access to 10,700 vehicles passing by daily. The property provides immediate access to the I-81 interchange (58,240 VPD) and is located in the prime retail corridor, surrounded by well-known national tenants such as Target, Lowe’s, Dick’s Sporting Goods, TJ Maxx, and more. Furthermore, it is close to Arena Hub Plaza,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Price Chopper
  • Guarantor:Corporate
  • Company:Northeast Grocery, Inc.
  • # Units:130
  • Stock:Private

About Tenant

The Golub Corporation operates supermarkets under the Price Chopper, Market 32 and Market Bistro banners. Their grocery store and pharmacy locations offer consumers grocery, personal care and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 11,186 76,017 118,117
2024 Total Population : 10,923 75,835 117,806
2024 Employed Civilian Pop : 4,478 36,623 58,431
2024 Total Businesses : 754 4,003 5,496
2024 Average Household Income : $ 58,289 $ 72,559 $ 75,976
2024 Total Consumer Spending : $ 211 M $ 2053 M $ 3426 M
2024 Median Age : 36 40 42
2024 Total Households : 4,025 31,695 50,603
2024 Pop Age 25+: Bachelor's Degree : 728 8,006 13,529
2024 Average Home Value : $ 113,294 $ 178,043 $ 189,273
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Spring Street E Northampton St 2020 10,622 0.26 mi
Wilkes Barre Township Blvd E Northampton St 2017 11,048 0.27 mi
N Sherman St Stevens Rd 2019 5,267 0.30 mi
Mundy Street Heinz Dr 2021 9,050 0.38 mi
Mundy Street Heinz Dr 2020 8,395 0.38 mi
Highland Park Boulevard Wilkes Barre Township Blvd 2019 8,811 0.39 mi
Highland Park Boulevard Wilkes Barre Township Blvd 2021 19,854 0.40 mi
Wilkes-Barre Township Boulevard Coal St 2020 5,311 0.40 mi
Wilkes-Barre Township Boulevard Coal St 2021 12,024 0.40 mi
Coal St J Campbell Collins Dr 2017 15,673 0.42 mi

Listing Broker

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