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Views: 38 DOM: 54 Updated: 07.16.24 Posted: 07.16.24 Status: Active

Summary

Price $1,158,000
Built/Renov 1957
Tenant Pep Boys
Cap Rate 7.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,200
Lease Start 06-01-2011
#Units 1,691
Price/SF $160.83
Expiration 05-31-2031
Tenant Type Automotive
NOI $83,981
R. Term 6.8
Ownership Fee Simple
Rent/SF $11.66
Increases 8.0%/1/yrs
Pop 5Mi 114,290
Lot/AC 1.81
Options 0/0yrs
AHHI 5Mi $110,126

Lease Highlights

  • Pep Boys has 6+ years remaining on the current lease term
  • The lease features 8% rental escalations throughout the initial term
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Pep Boys is strategically located on Black Horse Pike, with access to 24,907 vehicles passing by daily. The property is surrounded by well-known national tenants including ShopRite, The Home Depot, Walgreens, AutoZone, Chick-fil-A, and Taco Bell. The 5-mile trade area supports a population of 114,290 residents with an affluent average household income of $110,126. Williamstown is an...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Pep Boys
  • Guarantor:Corp T and Rated
  • Company:Icahn Enterprises L.P.
  • # Units:1,691
  • Tenant S&P: BB
  • Stock: NASDAQ: IEP

About Tenant

Pep Boys is an American automotive aftermarket service chain. Originally named Pep Auto Supply, the company was founded in Philadelphia, PA in 1921. The chain provides name-brand tires, automotive...


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Listing Broker

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