For more information on this property, contact Brett Furman at 610-687-6060 or brett@brettfurman.com

909 E Willow Grove Avenue
Glenside, Pennsylvania PA 19038-7985
Price: $4,539,000
Listing ID PAMC2047362
Status ACTIVE
Year Built 2019

Property Description:

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.

Primary Features

County: Montgomery
Property Sub Type: Retail
Property Type: Commercial Sale
Year Built: 2019
Zoning: B-1 BUSINESS

Interior

Building Total SqFt Source: Assessor
Central Air: yes
Cooling Type: Central A/C
Heating: yes
Heating Type: Baseboard - Electric

External

Building Units Total: 6
Car Parking Spaces: 60
Construction Completed: no
Construction Materials: Brick
Cooling Fuel: Electric
Heating Fuel: Electric
Hot Water: Electric
Lot Dimensions Source: Assessor
Lot Size Dimensions: 0.00 x 0.00
Navigable Water: no
New Construction: yes
Sewer Septic: Public Sewer
Tidal Water: no
Total Garage and Parking Spaces: 60
Type of Parking: Parking Lot
Water Access: no
Water Oriented: no
Water Source: Public
Water View: no

Location

Country: US
MLS Area: Springfield Twp (10652)
Municipality: SPRINGFIELD TWP
Waterfront: no

Additional

Accessibility Features: 32"+ wide Doors
Business Type: Shopping Center
Days on Market: 43
Land Use Code: 1004
Potential Tenancy: Multiple
Property Condition: Excellent
Property Use: Investment
Year Assessed: 2022
Year Built Source: Estimated

Financial

Acceptable Financing: Cash, Exchange, Private, Conventional
Automatically Update Tax Values: yes
Lease Considered: no
Net SqFt: 9038
Ownership Interest: Condominium
Possession: Settlement
Riparian Rights: no
Sale Type: Standard
Tax Lot: 88
Tax Year: 2021
Vacation Rental: no

Zoning Info


© 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. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of MSC Retail, Inc.. Data last updated on Monday, October 3rd, 2022 09:15:27 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

Data services provided by IDX Broker
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