Walnutport Kmart

400 N Best Ave, Walnutport, PA 18088

For Sale: Negotiable

121,159 SF

Walnutport Kmart

400 N Best Ave, Walnutport, PA 18088

For Sale: Negotiable

121,159 SF

  • Walnutport Kmart

Property Details


Building Size:

121,159 SF

Property Type:

Freestanding

Price:

Negotiable

Sale Type:

Single Tenant

Building Status:

Existing

Investment Highlights


  • The Asset offers the highly desirable opportunity for investors to redevelop or repurpose the box-space in the near-term as landlord retains the strategic right to recapture 50% of the space at limited costs, enabling significant income uptick.
  • The Property is located directly off of Route-145, providing direct access to downtown Allentown and the Pennsylvania Turnpike’s Northeast Extension
  • The Lehigh Valley submarket has experienced tremendous market fundamentals over the past few years, including 756,266 square feet of direct net absorption since the beginning of 2017, and an increase in direct net rents of 10.1% since the beginning of 2016.
  • Kmart is currently paying a full NNN rent on the Property, which will enable investors to earn a healthy cash flow and reduce basis prior to a redevelopment and increase in rental rate.

Project Description


The Property offers the opportunity for investors to create significant value by redeveloping or repurposing all or a portion of the box space in the near to mid-term.​ The asset provides the landlord the right to recapture 50% of the space at limited costs, enabling ownership to significantly increase the income.​ The Property’s location, along a major retail corridor and adjacent to significant traffic drivers, will enable a buyer to acquire significant interest and ultimately strong end-users for the space.​

Property Location:



400 North Best Avenue, Walnutport, PA, USA

Brokers

Abe Khan

Senior Sales & Leasing Associate, Retail
717.843.5555 x231

717.891.0836

akhan@bennettwilliams.com

Brad Rohrbaugh
Brad Rohrbaugh
Executive VP, Retail Director 717.843.5555

717.891.7368

brohrbaugh@bennettwilliams.com

Chad Stine

President & CEO
717.843.5555

717.968.7505

cstine@bennettwilliams.com

More Info