30 4Th St, Easton, PA 18042
65,340 SF Specialty Building Offered at $7,750,000 at a 7.77% Cap Rate in Easton, PA 18042
For Sale
Active
Asking Price $7,750,000
- Property Type
-
Specialty
- Square Feet
- 65,340 SF
- Price / Square Foot
- $119
Listing Contacts
- Property Info
Property Overview
• The tenant, Easton Arts Academy Elementary Charter School, Inc., recently exercised its first 7-year option to extend the lease through August 2031, demonstrating their commitment to the site
• 3 additional (7-year) options to extend, with the next option period commencing automatically upon state charter renewal (contact agent for details)
• The lease features 3% rental increases every 5 years starting in August 2026 and continuing throughout the option periods thereafter, growing NOI and hedging against inflation
• Tenant pays pro-rata share of operating expenses
• Ideal, low-management investment opportunity for a passive investor
• Ideally situated in the heart of Easton’s Historic Downtown, with a wide range of nearby businesses and local attractions including parks and museums
• Walk Score® of Walker’s Paradise (94/100)
• Nearby direct on off/ramp access to Interstate 78 a major thoroughfare averaging over 68,000 vehicles per day
• Nearby national/credit retail tenants include Family Dollar, CVS, Giant, The Home Depot, Grocery Outlet, Rite Aid, Petco, and many more
• The 5-mile trade area is supported by over 120,000 residents and 46,000 employees, providing a direct consumer base from which to draw
• Residents within 5 miles of the subject property boast an affluent average household income of $107,000
• 3 additional (7-year) options to extend, with the next option period commencing automatically upon state charter renewal (contact agent for details)
• The lease features 3% rental increases every 5 years starting in August 2026 and continuing throughout the option periods thereafter, growing NOI and hedging against inflation
• Tenant pays pro-rata share of operating expenses
• Ideal, low-management investment opportunity for a passive investor
• Ideally situated in the heart of Easton’s Historic Downtown, with a wide range of nearby businesses and local attractions including parks and museums
• Walk Score® of Walker’s Paradise (94/100)
• Nearby direct on off/ramp access to Interstate 78 a major thoroughfare averaging over 68,000 vehicles per day
• Nearby national/credit retail tenants include Family Dollar, CVS, Giant, The Home Depot, Grocery Outlet, Rite Aid, Petco, and many more
• The 5-mile trade area is supported by over 120,000 residents and 46,000 employees, providing a direct consumer base from which to draw
• Residents within 5 miles of the subject property boast an affluent average household income of $107,000
Property Details
- Class
- C
- Year Built/Renovated
- 1923/2018
- Stories
- 3
- Property Subtype
- School
- Lot Size (sq. ft)
- 15,246 SF
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