1020 Lincon Ave
1020 Lincoln Avenue
Prospect Park, PA 19076
Description
Longtime established and thriving turn-key bakery in Delaware County. This sale and business will provide for a Long Term (10 year) NN lease with 3% annual increases plus 2 apartments. Gross initial income from the building will be $96,000. This family owned and operated business has been operating with over 50 years of experience! This bakery is conveniently located in a (+/-) 5600 SF free, standing building on the heavily traveled Route 420 which is the main street for Prospect park with 12,000 +/- ADT and 24,000 ADT on Chester Pike. The Building is in excellent condition and operates the bakery in the entire first floor and part of the 2nd floor. The 2 fully furnished apartments have 2 long term tenants and are well kept. Excellent demographics – 128,640 people within 3 mile radius and an average household income of $81,090. This property is just off route 95 and route 476 and has easy access to the entire Delaware Valley. Most of the tenants that have occupied the apartments are airline pilots and employees since it is also within minutes of the Philadelphia Airport. The long-time bakery business is being sold either together with the real estate or separate for $595,000. The bakery business currently grosses $22,000/ wk. Could be a good investment with a brand new long term lease commencing at settlement.
Bakery and 2 apartments
