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3645 N Front St
Philadelphia, PA 19134
Medical Office Building · Office Property For Sale
Investment Highlights
- High Credit Tenant | 16 Years Remaining | Scheduled Rental Increases
- Recently Built | Adjacent to Saint Christophers Hospital for Children | One-Stop healthcare shop
- Prime Location | Quick Access to U.S. Hwy 11 & State Hwy 611
- Absolute NNN | Fee Simple Ownership | Tax Benefits Complete Passive Ownership | Ideal For Trust Planning And Long-term Preservation of Equity
- Non-recourse Loan at Significantly Below Market Rate | High Leverage Exchange | Paydown/Readvance Feature
Executive Summary
SRS Real Estate Partners-Northeast, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, CTL financed, Zero Cash Flow, St. Christophers Pediatrics located in Philadelphia, Pennsylvania. The tenant has over 16 years remaining, demonstrating their commitment to the site. The lease features scheduled rental increases every 5 years throughout the term, steadily growing NOI and hedging against inflation. The building is leased to a JV between Tower Health (S&P: D) and Drexel University (S&P: BBB+) and is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Additionally, the paydown/readvance feature that comes from Zero Cash Flow structure further benefits a buyer with 1031 exchange.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
30,000 SF
Building Class
B
Year Built/Renovated
2013/2023
Price
$26,873,729 CAD
Price Per SF
$895.79 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
15,000 SF
Building FAR
1.06
Lot Size
0.65 AC
Zoning
CMX-3 - Community Commercial Mixed-Use Medical Office Building for Age 21 and Under
Parking
156 Spaces (5.2 Spaces per 1,000 SF Leased)
Amenities
- Signage
Property Taxes
| Parcel Number | 777011725 | Improvements Assessment | $14,203,662 CAD |
| Land Assessment | $4,242,604 CAD | Total Assessment | $18,446,266 CAD |
Property Taxes
Parcel Number
777011725
Land Assessment
$4,242,604 CAD
Improvements Assessment
$14,203,662 CAD
Total Assessment
$18,446,266 CAD
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