909 E Willow Grove Avenue

Description

MSC Retail is proud to present 909 Willow Grove Ave, a 9,051 square foot, 100% occupied retail condominium strip center located inWyndmoor, Montgomery County, Pennsylvania. The offering is a part of an approximately 27,000 square foot mixed use developmentconstructed in 2019 that is comprised of 10 residential condominiums (not a part of the offering) above six ground floor retail units. Each retailunit is on a net lease, individually parceled, sub-metered and managed by the condominium association, effectively making this offering apassive, 6-unit net lease portfolio with minimal management responsibility.The tenant mix of 909 Willow Grove Ave is an optimal mix of internet proof food, fitness and service uses. The leases were all signed withinthe last three years, with a total weighted average lease term of 7 years remaining. All the leases include rental increases on an annual orbiannual basis, providing inflation resistant compound annual net operating income growth.Wyndmoor is an optimally positioned suburb of Philadelphia that is located approximately half a mile from the Philadelphia County Line. Thislocation benefits from incredible population density, boasting 167,169 residents with average household incomes of $94,334 within threemiles of the center. This captive customer base benefits from the close proximity to Philadelphia while enjoying a top 20% school district andavoiding burdensome Philadelphia taxes, which has driven incredible residential demand. On a micro level, residential condo units at 909Willow Grove that have sold in 2022 have seen a nearly 30% appreciation in value. The strength and insulated nature of this submarket willensure that 909 Willow Grove Ave will remain in high demand and continuously appreciated.