Bought with Jon M O'Shea • Keller Williams Main Line
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Key Details
Sold Price $750,000
Property Type Commercial
Sub Type Land for Commercial Use
Listing Status Sold
Purchase Type For Sale
Subdivision Port Richmond
MLS Listing ID PAPH2545596
Year Built 2025
Annual Tax Amount $15,397
Tax Year 2025
Lot Size 0.851 Acres
Property Sub-Type Land for Commercial Use
Property Description
This is a fully leased Industrial Outdoor Storage (IOS) parcel, leased to a tow operator. The 5 year NNN lease states that tenant pays property taxes. Landlord pays liability insurance ($675/yr). The 5-year NNN lease started April 2024 and has a Renewal option at landlord's set rent for 5 years.
Expenses: Tenant pays taxes, insurance, maintenance, utilities, snow removal, etc.
This is a turnkey passive income play with built-in rent growth, perfect for 1031 buyers or investors who want simple mailbox money.
In-place Cap Rate 8.6% cap rate.
Location
Province PA
County Philadelphia
Area 19137 (19137)
Zoning I2
Interior
Hot Water Other
Heating Other
Cooling Other
Exterior
Water Access N
Building
Sewer Other
Water Other
New Construction N
Schools
School District Philadelphia City
Others
Special Listing Condition Standard
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Kory Prince
Owner/Director of Operations | -V61339
Owner/Director of Operations -V61339