Bella Vista – The commercial condominium at the ground level of 600-02 South 9th Street that houses Starbucks and Percy Street BBQ is for sale at an asking price of 2,499,900!
“Unparalleled opportunity to have two long term successful businesses as your tenants!! 600-602 South 9th Street unit #GF, (9th and South St.) is being offered for sale. 8800 square foot commercial condominium subdivided into two spaces.. One is rented by STARBUCK’s Coffee and the other by Percy Street BBQ Restaurant- (with Liquor License). Starbucks is at the beginning of 15 year lease extensions and the Restaurant’s first 10 year extension date is in 2016. The leases are Triple Net. Tenants pays 100% of properties Insurance, real estate taxes, condo fees, utilities. The annual rent is $187,484, Starbucks is paying $4790/month and BBQ is paying $11,104/month. Excellent ROI and an extremely passive Investment. Annual rent increases are part of the leases.”
The property is owned by Husky Associates LP and was purchased on June 4, 2010 for 1,940,000.
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Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
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Frank L. DeFazio and Maria Iskenderian DeFazio have been real estate agents serving the Center City Philadelphia real estate community with the highest degree of honesty and integrity since 2005. In 2011 The Center City Team was formed and www.CenterCityTeam.com was created. CenterCityTeam.com, a website created by a Philadelphia real estate agent, provides buyers and sellers of real estate with the ability to perform a Philadelphia MLS search, information on Philadelphia rentals and useful resources for buyers, sellers, renters, developers and investors.
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