Hazleton Honda
Hazle Township, PA
Key Details
| Price: | $16,551,724 |
|---|---|
| Cap Rate: | 7.25% |
| Annual Rent: | $1,200,000 |
| Address: | 651 Airport Road, Hazle Township, Pennsylvania 18202 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 12.21 Acres |
| Building Size: | 48,804 SF |
| Year Built: | 2016 |
NNN Pro is pleased to present the exclusive listing for a Hazleton Honda located at 651 Airport Road, Hazle Township, Pennsylvania 18202. The site consists of roughly 48804 rentable square feet of building space on an estimated 12.21-acre parcel of land. This Hazleton Honda is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $1,200,000 and has scheduled increases of 2.00% Annually.
About the Investment
- Long Term NNN-Sale Leaseback | The site will be subject to a new 20-year lease commencing at close of escrow.
- Attractive Rental Increases | There is a 2% rent increase annually that will increase 49% over the life of the lease, providing significant income growth.
- 20 Years of Renewal Options | There are 4, 5-year renewal options, with the potential of a 121% rental increase over 40 years
- Corporate Guarantee | Timbrook Management operates over 15 brand-name dealerships across Pennsylvania, Maryland, and West Virginia. They are known for their values of integrity, saftey, accountabilty, excellence, and respect
Key Details
| Price: | $16,551,724 |
|---|---|
| Cap Rate: | 7.25% |
| Annual Rent: | $1,200,000 |
| Address: | 651 Airport Road, Hazle Township, Pennsylvania 18202 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 12.21 Acres |
| Building Size: | 48,804 SF |
| Year Built: | 2016 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Ned Hennessey
nhennessey@nnnpro.com
License: NY: 10401383520
Evan Sterling
esterling@nnnpro.com
License: AZ: SA697647000
Francis Purritano
fpurritano@nnnpro.com
License: NY: 10401333619
Broker of Record
Brian Brockman
Bang Realty-Pennsylvania, Inc
License: RM432816
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.