909 E Willow Grove Avenue, Glenside, Pennsylvania 19038


Listing IDPAMC2047362
Price$4,539,000
StatusACTIVE
CountyMontgomery
Year Built2019
Property TypeCommercial Sale
Property Sub TypeRetail
MSC Retail is proud to present 909 Willow Grove Ave, a 9,051 square foot, 100% occupied retail condominium strip center located in Wyndmoor, Montgomery County, Pennsylvania. The offering is a part of an approximately 27,000 square foot mixed use development constructed in 2019 that is comprised of 10 residential condominiums (not a part of the offering) above six ground floor retail units. Each retail unit is on a net lease, individually parceled, sub-metered and managed by the condominium association, effectively making this offering a passive, 6-unit net lease portfolio with minimal management responsibility. The tenant mix of 909 Willow Grove Ave is an optimal mix of internet proof food, fitness and service uses. The leases were all signed within the last three years, with a total weighted average lease term of 7 years remaining. All the leases include rental increases on an annual or biannual basis, providing inflation resistant compound annual net operating income growth. Wyndmoor is an optimally positioned suburb of Philadelphia that is located approximately half a mile from the Philadelphia County Line. This location benefits from incredible population density, boasting 167,169 residents with average household incomes of $94,334 within three miles of the center. This captive customer base benefits from the close proximity to Philadelphia while enjoying a top 20% school district and avoiding burdensome Philadelphia taxes, which has driven incredible residential demand. On a micro level, residential condo units at 909 Willow Grove that have sold in 2022 have seen a nearly 30% appreciation in value. The strength and insulated nature of this submarket will ensure that 909 Willow Grove Ave will remain in high demand and continuously appreciated.
© 2022 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing courtesy of MSC Retail, Inc.. Data last updated on Wednesday, August 17th, 2022 08:58:18 AM.

Contact - Listing ID PAMC2047362

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Brett Furman

528 East Lancaster Avenue
St. Davids, PA 19087
Phone: 610-687-6060
Phone Alt: 610-687-6060

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