Absolute Net Stonewall Collision
502 Basin St, Allentown, PA 18103, USA Map
Listing Price $2,100,000
| Status | Active |
| Lease Type | Absolute Net |
| Property Type | Net Lease |
| CAP Rate | 6.57% |
| GLA (Sq. Ft.) | 9,745 |
| NOI | $138,010 |
| Lease Term Remaining | 17 Years |
| Increases | 2% Annually Starting in 2027 |
| Options | 1 x 5 Year |
| State (BOR) | PA |
| Broker of Record | Timothy Stephenson, Jr. |
| License # (BOR) | RMR006104 |
Investment Highlights
- Traffic Counts on Basin Road (24,609 VPD), a Third of a Mile
off of Highway 145 (15,975 VPD) (Source: LandVision, CoStar
2022) - Seconds Away from the Fourth Street Retail Corridor and
Downtown Allentown | Nearby National Retailers Include: Wawa,
Jiffy Lube, McDonalds’s, Popeyes, KFC, Price Rite, Walgreens,
Dollar General, and Others - Growing Community with an Average Household Income of Over
$77,000 within Five Miles of the Subject Asset, as of 2022
Parks and Outdoor Recreational Facilities Nearby Include: Canal
Park, Malcolm Gross Rose Garden, Allentown Municipal Golf
Course, Coca-Cola Park, Lehigh Mountain Park, Franko Farm
Rec Area, and More - Subject is Less than One Mile from Downtown Allentown
Pennsylvania, with a Population of 125,094 - Tenant Stonewall Collision is a Former Maaco Franchisee with
Twenty Locations in Six States Throughout the Mid-Atlantic and Midwest - Subject is Less than Five Miles from Lehigh Valley International
Airport, Serving Just Under One Million Passengers Annually
(flyabe.com)
Investment Overview
Subject is a Prime 9,745 Square-Foot Stonewall Collision on a 0.75-Acre Lot with Ample Parking, and Strategically Located with a Host of Automotive Businesses. Absolute Net Lease with Over 17 Years Remaining and Zero Landlord Responsibility | 2% Annual Rental Increases Starting in 2027 with 1 x 5-Year Option | Seller Finance Option Interest Only 3-4 Year Mortgage at 6% with 50-60% Down.
