909 E WILLOW GROVE AVENUE

GLENSIDE, PA, 19038

$4,539,000

$4,539,000
Active
Active
 - For Sale
property_type
Commercial
calendar
Built 2019
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.
MLS® ID:
PAMC2047362
Updated:
10/3/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central A/C
Heating
Baseboard - Electric

Exterior/Building Features

Sewer
Public Sewer

School Information

School District
SPRINGFIELD

Other Property Details

Area Name
Springfield Twp (10652)
Taxes
$0.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
MONTGOMERY
Water Source
Public
Pool
No
Zoning
B-1 BUSINESS
Contact