September 5, 2024 – Mark Taylor of Horvath & Tremblay has successfully completed the sale of 4001 Kensington Avenue, a vacant Walgreens, in Philadelphia, Pennsylvania. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,400,000.
The vacant property is located at 4001 Kensington Avenue in Philadelphia, Pennsylvania. The Property consists of a 13,833 square foot single tenant building on a 1.86-acre (81,138 square foot) parcel of land. The building was previously occupied by Walgreens and features a dedicated drive-thru with ample on-site parking. 4001 Kensington Avenue is in good condition and is zoned CMX3 General Commercial District, one of the most versatile zoning designations in the city of Philadelphia. The Property is well-located in the Feltonville neighborhood at the intersection of Kensington Avenue and East Hunting Park Avenue, two of the area’s primary commuter and commercial corridors. The Property enjoys outstanding visibility and frontage and is 1,000 feet from the Erie-Torresdale Subway Station and is 1-mile from Interstate 95 and 1.5-miles from US Highway 13. The location is surrounded by densely developed residential neighborhoods that provide a strong consumer and employee base, as well as nearby national retailers that drive traffic to the area. The Property is approximately 5-miles from Philadelphia’s Central Business District.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.