Beauty & More
Retail | 7.75% CAP | 8,000 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single tenant Beauty & More located at 3400 N 5th Street Highway in Reading, Pennsylvania (the “Property”). Beauty & More occupies an 8,000 square foot building on a 0.23-acre parcel of land. Beauty & More has 9+ years remaining on their lease with two (2), 5-year renewal options. The lease calls for attractive rent increases every five years throughout the primary lease term and at the start of each of the renewal options. The Property is extremely well located along N 5th Street Highway (US Route 222 BUS), one of the area’s primary commercial and commuter corridors.
The Property enjoys outstanding visibility, frontage and access and is in the center of a dense trade area that is home to shopping centers, national and local retailers, restaurants, and businesses, all of which drive traffic to the area. Beauty & More is within minutes of several area schools and is surrounded by residential neighborhoods providing a built-in customer base. Additionally, the Property is convenient to the area’s primary roadways, Reading Regional Airport, two hospitals and three colleges/universities.
Investment highlights
LEASE TERM: Beauty & More has 9+ years remaining on their lease with two (2), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The lease calls for an attractive rent increase in February of 2030 and at the start of each of the renewal options, providing the investor with an attractive increase in revenue and hedge against inflation.
DYNAMIC TENANT: Beauty & More is popular beauty supply business in Pennsylvania that offers wigs, cosmetics, hair care, and personal care items. Beauty & More is a regional tenant with 14 locations in New Jersey and Pennsylvania. The lease features a personal guaranty
MINIMAL MANAGEMENT RESPONSIBILITIES: Beauty & More reimburses 100% of the real estate taxes and insurance and handles common area maintenance directly, protecting against rising expenses. The Landlord is responsible for the roof and structure.
PRIME RETAIL LOCATION: Beauty & More enjoys outstanding frontage, visibility and access is positioned along N 5th Street Highway (US Route 222 BUS), one of the area’s primary commercial and commuter corridors. The Property is surrounded by residential neighborhoods and is convenient to area schools (Muhlenberg High School, Albright University, Alvernia University & Penn State – Berks Campus) providing a captive customer base. The Property is seconds from PA Routes 61 and 12, and a short drive from US Highways 222 and 422. Additionally, the Property is convenient to Reading Regional Airport, Reading Hospital, and Penn State Health St. Joseph Medical Center.
STRONG REAL ESTATE FUNDAMENTALS: The in-place lease features a below market rent ($9.50 per square foot) that is easily replaceable and is priced well below replacement costs at $123 per square foot.
TRAFFIC COUNTS: On average more than 24,800 vehicles pass the Property daily along N 5th Street Highway (US Route 222 BUS).
DEMOGRAPHICS: Approximately 81,000 people live within 3 miles of the Property with an average household income of $84,644. More than 174,700 people live within 5 miles of the Property with an average household income of $89,061. Additionally, there are more than 72,300 employees within 5 miles of the Property.
RETAIL TRADE AREA: Notable businesses retailers and restaurants drawing consumers to the trade area include Walmart Supercenter, Target, Lowe’s, Sam’s Club, BJ’s Wholesale Club, Giant, Redner’s Warehouse Market, Forman Mills, Burlington, Ross, PetSmart, AMC Fairgrounds 10, Tractor Supply Co, Harbor Freight, Ollie’s Bargain Outlet, Restaurant Depot, Planet Fitness, Pep Boys, Advance Auto Parts, Dollar General, Dollar Tree, Applebee’s Panera, Chick-fil-A, Chipotle, Starbucks, McDonald’s, Burger King, Wendy’s, Taco Bell, KFC, Bojangles, Jersey Mike’s, Arby’s, Popeyes, Wingstop, Dairy Queen, Dunkin’, and 7 Brew Coffee.
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