For Sale
$10,500,000

118 Nature Park RdGreensburg, PA 15601

High-yield, 100% occupied shopping center

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a 62,000-square-foot shopping center in Greensburg, Pennsylvania, boasting a prime location within the bustling East Greensburg retail corridor. The property, situated on a 5.5-acre lot at 118 Nature Park Road (APN 50-16-00-0-109), is fully occupied by two strong tenants: Pool City and Allegheny Health Network. Built in 1970, this single-building center offers a compelling 6.71% cap rate and a substantial net operating income (NOI) of $704,926, with an asking price of $10,500,000 ($169.35/sq ft). The property benefits from a high traffic count on US Route 30, exceeding 40,700 vehicles daily, and enjoys close proximity to major retailers including Westmoreland Mall, East Gate Shopping Center, Best Buy, Barnes & Noble, and Burlington. Tenants are on triple-net leases, minimizing landlord responsibilities and ensuring stable cash flow. The weighted average lease term remaining is 3.3 years, offering potential upside through tenant renewal options. Allegheny Health Network, a significant Pittsburgh-based integrated health network, occupies 38.2% of the gross leasable area (GLA). The East Greensburg submarket features 2.8 million square feet of retail space and an 8.5% vacancy rate. This property represents a rare opportunity to acquire a high-performing, well-located retail asset with significant long-term potential.

Highlights

  • Fully occupied by Allegheny Health Network (38.2% GLA) and Pool City (61.8% GLA).
  • Triple-net leases provide minimal landlord responsibilities and stable cash flow.
  • Price per square foot is below replacement cost at $169/SF.
  • 3.3-year weighted average lease term (WALT) offers potential upside through tenant renewal options.

Property Details for 118 Nature Park Rd

Property type
Lifestyle centers, Power centers
Square Feet
62,000 SF
Year Built
1970
Buildings
1
Lot Size (sq. ft)
239,580 SF

Location Insight

City
Greensburg
County
Westmoreland
State
Pennsylvania
Latitude
40.303358141282
Longitude
-79.49755525454
118 Nature Park Rd, Greensburg, Pennsylvania

FAQs

What type of property is this?
Lifestyle center - High-yield, 100% occupied shopping center
Where is the lifestyle center located?
The property is located at 118 Nature Park Rd Greensburg, PA.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Fully occupied by Allegheny Health Network (38.2% GLA) and Pool City (61.8% GLA).; Triple-net leases provide minimal landlord responsibilities and stable cash flow.; Price per square foot is below replacement cost at $169/SF.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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118 Nature Park Rd
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