$625,000
$635,000
1.6%For more information regarding the value of a property, please contact us for a free consultation.
0.67 Acres Lot
SOLD DATE : 12/13/2017
Key Details
Sold Price $625,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision None Available
MLS Listing ID 1001270967
Sold Date 12/13/17
HOA Y/N N
Originating Board TREND
Year Built 1979
Annual Tax Amount $12,677
Tax Year 2017
Lot Size 0.671 Acres
Acres 0.67
Lot Dimensions 138
Property Description
INVESTOR OPPORTUNITY - This is a 2,970 +/- SF building leased to Wawa inc. The lease started in 1978 and was initially 20 years with four (4) five (5) years options. Two additional five (5) year option periods have just been negotiated. Landlord's sole expense with respect to the lease is the repair/ replacement of exterior walls and roof. ALL OTHER EXPENSES are paid by the tenant. The annual base rental is FIXED during each 5 year period. The newly negotiated option periods are: 7-1-2018 to 6-30-2023 at an annual base rent of $44,296.87 AND 7-1-2023 to 6-30-2028 at an annual base rent of $46,511.72. The current annual base rent is $42,187.56 (ending 6-30-18). To exercise an option period, tenant must send written notice 180 days BEFORE the expiration of the then current term of the lease.
Location
State PA
County Montgomery
Area Souderton Boro (10621)
Zoning C-2
Rooms
Other Rooms Primary Bedroom
Interior
Cooling Central A/C
Flooring Tile/Brick
Fireplace N
Heat Source Natural Gas
Exterior
Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available, Phone, Cable TV Available, Under Ground
Waterfront N
Water Access N
Roof Type Flat,Shingle,Rubber
Accessibility None
Road Frontage Boro/Township
Parking Type Parking Lot, On Street
Garage N
Building
Building Description Other, Public Restrooms,Clear Span,Kitchen
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Other
New Construction N
Schools
School District Souderton Area
Others
Tax ID 21-00-05044-002
Ownership Fee Simple
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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Bought with Edwin J Brooks • Brode & Brooks Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "