NNN Properties for Sale in Bucks & Montgomery County PA
Triple net properties along the major commercial corridors of Bucks and Montgomery County — Route 1, Route 611, Route 309, Route 202, Route 422, and the Pennsylvania Turnpike interchange nodes — represent one of the most accessible passive income investments available to qualified buyers in the Philadelphia suburbs. A single-tenant NNN property with a creditworthy national tenant on a 10 to 20-year absolute lease requires no active management, no repair calls, and no tenant relationship beyond collecting the net rent check. For a business owner, physician, or professional investor seeking real estate exposure without becoming an active landlord, NNN investment in this corridor is the answer.
Josh Wernick - REALTOR®
· Commercial & Investment Real Estate · Bucks & Montgomery County PA · Keller Williams Real Estate
What Is a Triple Net (NNN) Property?
A triple net lease — written NNN — is a commercial lease structure where the tenant pays base rent plus three additional categories of operating expenses: property taxes, building insurance, and maintenance costs. The landlord receives a net rent check. The tenant handles the building. In an absolute NNN lease, the tenant assumes all costs with zero landlord responsibility — including roof, structure, and major capital expenditures. Standard NNN leases may retain some structural responsibilities with the landlord. Absolute NNN leases with creditworthy tenants command the lowest cap rates and highest purchase prices in the NNN market.
NNN vs. Gross vs. Modified Gross — The Economic Comparison
In a gross lease the landlord pays all operating expenses — taxes, insurance, maintenance — and the tenant pays one all-inclusive rent figure. In a modified gross lease expenses are split. In a NNN lease the tenant covers all or most operating costs. The critical comparison point: NNN base rents are lower than gross lease rents because the tenant is absorbing operating costs. A $25/SF NNN lease and a $32/SF gross lease on comparable spaces may produce nearly identical landlord economics once operating expenses are accounted for. Never compare NNN and gross lease properties on headline rent alone — convert to equivalent economics before evaluating.
NNN Cap Rates in the Bucks and Montgomery County Market
Cap rates in the Philadelphia suburban NNN market currently range from approximately 5% to 7% depending on tenant credit quality, lease term, remaining lease duration, and location. National credit tenants — Dollar General, CVS, Walgreens, McDonald's, Wawa, Starbucks — trade at the tighter end of that range, 5% to 5.75%, because the credit quality and lease certainty justify lower yield. Regional and local tenants with shorter remaining lease terms trade at wider cap rates, 6.5% to 7.5%, reflecting the additional risk of re-tenanting at lease expiration.
NNN Tenant Categories Active in Bucks and Montgomery County
The most common NNN tenant categories in the Bucks and Montgomery County corridor include dollar stores (Dollar General, Dollar Tree, Family Dollar) on 10 to 15-year absolute NNN leases along Route 309, Route 611, and Route 1 corridors; pharmacies (CVS, Walgreens) on absolute NNN leases with drive-throughs; quick service restaurants (McDonald's, Wawa, Chick-fil-A, Starbucks) on absolute NNN ground leases; medical office (independent practices, urgent care, imaging centers) on NNN leases with healthcare system tenants; and automotive service (Jiffy Lube, Mavis Discount Tire, Valvoline) on long-term NNN leases along commercial arterials.
1031 Exchange and NNN Properties
NNN properties are among the most popular 1031 exchange replacement properties for investors completing exchanges out of residential or actively managed commercial real estate. The passive income, long lease terms, and creditworthy tenants make NNN investments ideal for investors who want to defer capital gains tax while transitioning from active management to passive ownership. Pennsylvania offers ample NNN replacement property inventory across Bucks and Montgomery County, with 154 Pennsylvania NNN properties currently listed on LoopNet and 103 listed on Crexi. If you are completing a 1031 exchange with a 45-day identification deadline, call Josh Wernick - REALTOR® at 267-934-5674 immediately — the identification clock does not wait.
Montgomery County NNN Market — Current Data
Seven active NNN properties are currently available for sale in Montgomery County PA, spanning 33,719 square feet with an estimated market value of $17,733,000 per Realmo's current data. Sale prices range from $1,260,000 to $7,520,000 with an average of $4,433,250. Notable active listings include a Walgreens absolute NNN lease in Norristown with zero landlord responsibilities, located on DeKalb Pike and E Township Line Road with 175,000+ residents within 5 miles and 36,000+ vehicles per day. Wyndmoor mixed-use NNN property near the Philadelphia County line with strong demographics and 2019 construction.
Bucks County NNN Market
A single-tenant medical office NNN property is active at 866 W Bristol Road, Warminster Township, Bucks County — representing the type of healthcare-tenanted NNN investment that commands lower cap rates due to the long-term lease stability of medical tenants. Bucks County's Route 611 corridor, Route 1 (Lincoln Highway), and Route 309 produce consistent single-tenant retail NNN inventory from national brands serving the suburban Philadelphia consumer base.
Absolute NNN vs. Standard NNN — The Distinction That Matters
In a standard NNN lease the landlord may retain responsibility for roof, structure, and major capital expenditures. In an absolute NNN lease — sometimes called a bondable lease — the tenant assumes all costs with zero landlord responsibility for any expense during the lease term. Absolute NNN leases command the lowest cap rates (highest prices) in the NNN market because they eliminate landlord risk entirely. When evaluating NNN properties, confirm whether the lease is standard NNN or absolute NNN before making any valuation judgment — the economic difference between the two is significant.
Call or text Josh Wernick - REALTOR® at 267-934-5674 to discuss active NNN inventory in Bucks and Montgomery County, 1031 exchange strategy, or to list a NNN property.
Josh Wernick - REALTOR®
· NNN Investment Properties · 1031 Exchange · Bucks & Montgomery County PA · Keller Williams Real Estate
NNN Properties For Sale in Bucks and Montgomery County PA - FAQ
What are NNN cap rates in Bucks and Montgomery County PA?
Cap rates in the Philadelphia suburban NNN market range from approximately 5% to 7% depending on tenant credit quality and remaining lease term. National credit tenants trade at 5% to 5.75%. Regional tenants trade at 6% to 7%. Local tenants with shorter lease terms trade at 7% to 7.5%.
What types of NNN properties are available in Bucks and Montgomery County?
Dollar stores, pharmacies (CVS, Walgreens), quick service restaurants (McDonald's, Wawa), medical office, and automotive service represent the most common NNN tenant categories in this corridor. Seven active NNN listings are currently available in Montgomery County alone ranging from $1.26M to $7.52M.
Can I use a 1031 exchange to buy NNN properties in Pennsylvania?
Yes. NNN properties are among the most popular 1031 exchange replacement properties. Pennsylvania has 154 NNN properties listed on LoopNet alone. Call Josh Wernick - REALTOR® at 267-934-5674 immediately if you have a 45-day identification deadline — the clock does not wait.
What is the difference between NNN and absolute NNN?
In a standard NNN lease the landlord may retain responsibility for roof, structure, and major capital expenditures. In an absolute NNN lease the tenant assumes all costs with zero landlord responsibility. Absolute NNN leases command lower cap rates (higher prices) because they eliminate landlord risk entirely.