Cap Rate: 6.00%
Net Operating Income: $525,000
Store Square Footage: 50,000
Warehouse Square Footage: 27,000
Total Square Footage: 77,000
This is a rare Tops Friendly Market fee simple absolute NNN lease in Erie, PA. The lease calls for zero landlord obligations. There are ten, five year options to renew. The asset is well situated at a major commercial thoroughfare with high traffic counts.
Erie is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania, United States.
The city was named for the Native American Erie people who lived in the area until the mid-17th century. Erie is the fifth-largest city in Pennsylvania, and the largest city in Northwestern Pennsylvania, with a population of 94,831 at the 2020 census. The estimated population in 2021 had decreased to 93,928. The Erie metropolitan area, equivalent to all of Erie County, consists of 266,096 residents. The Erie-Meadville combined statistical area had a population of 369,331 at the 2010 census.