2140 Byberry Rd, Philadelphia, PA 19116 For Sale

Matthew Berres

PRO

CA 01977909

Samer Khalil

CA 02002301

Jordan Alleva

CA 02038417

Karick Brown

02071955

Listed by Newmark | Orange County - Irvine, Newmark - Roseville

$52,033,000

1053 days on market

Updated 83 days ago

Topgolf - Philadelphia, PA

Details

Property Type

Retail

Sub Type

Bar, Restaurant (+1)

Square Footage

68,000

Cap Rate

NOI

$3,642,327

Occupancy

100%

Tenancy

Single

Brand/Tenant

Topgolf

Lease Type

Absolute NNN

Lease Term

Lease Expiration

05/31/2042

Remaining Term

15.9

Rent Bumps

Yes

Lease Options

4 (5-Year)

Class

Year Built

2022

Year Renovated

2022

Buildings

Stories

Acreage

16.400

Investment Type

Net Lease

Tenant Credit

Corporate Guarantee

Lease Commencement

05/20/2022

Ground Lease

Ownership

Fee Simple (Land & Building Ownership)

Sale Condition

For sale by owner

New 2022 Construction | Topgolf - Philadelphia, PA

Investment highlights

Brand New 2022 Construction in Incredibly High Barrier to Entry Location | Northeast Philadelphia Location - Halfway between Trenton and Philadelphia | Approximately 500 Employees at the Property
Long-Term Commitment | 20 Year Absolute NNN | Zero Landlord Responsibilities | 10% Rental Increases every 5 years | Four (4) Five (5) Year Renewal Options
State-of-the-Art Design and Construction | Topgolf Invested $29,123,383 in Improvements | Signature Three-Level Venue & 100+ All-Weather Hitting Bays
Unique and Industry-Leading Tenancy
Irreplaceable Hwy 1/Hwy 63 Intersection Location in Northeast Philadelphia | 1 Mile from Northeast Philadelphia Airport | Dynamic Trade Area
Affluent Demographics | Ideal Target Customer Base | Dense Daytime Working Population | Synergistic New Development