Listed by Metro Commercial Real Estate, Inc. Philadelphia
Unpriced
Ritz-Carlton Commercial Condominiums
Details
Property Type Retail
Sub Type Storefront
Square Footage 6,850
Net Rentable (SqFt) 6,850
Units 103
NOI $340,471
Occupancy 100%
Tenancy Multi
Brand/Tenant La Colombe, Palm Vintage Cafe
Lease Type NNN
Rent Bumps Yes
Lease Options La Colombe: 2 x 5 Years; Palm Vintage Cafe/Sushi and Teas LLC: 2 x 5 Years; Self-Storage: Vary - 1 Year Renewal Options
Pro-Forma NOI $340,000
Year Built 2009
Buildings 1
Stories 2
Zoning CMX-5
Investment Type Stabilized
Sale Condition For sale by owner
Business for Sale | ±6,850 SF (Ground Floor: 2,487 SF, Third Floor: 4,363 SF)
Marketing description
Flagship retail opportunity opposite City Hall at the epicenter of Center City, located within the luxury Ritz-Carlton Residences and connected to a 299-room Ritz-Carlton Hotel.
Investment highlights
- Flagship retail opportunity opposite City Hall at the epicenter of Center City
- Located within the luxury Ritz-Carlton Residences and connected to a 299-room Ritz-Carlton Hotel, enhancing prestige and foot traffic
- 100% leased with NNN income in place
- Diverse tenant mix including La Colombe, Palm Vintage Cafe, and additional retail plus 100+ storage units
- Strong in-place income with projected NOI of ~$340K and 7.5-year weighted average lease term
Listing Contacts
Listed by Metro Commercial Real Estate, Inc. Philadelphia
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$340,471.00
$28,372.58/mo
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