For Sale
$900,000

218 Rodi RdPittsburgh, PA 15235

Profitable Bank Branch in Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 3,200 square foot, single-tenant bank building located within the bustling Penn Hills Shopping Center in Pittsburgh, Pennsylvania. The property, built in 2008, boasts a 100% occupancy rate with Dollar Bank as the tenant, secured by a corporate guarantee under a triple-net (NNN) lease. The asking price is $900,000, representing a compelling $281.25 per square foot and a 6.05% cap rate based on a current Net Operating Income (NOI) of $54,432. The property sits on a 0.34-acre lot and features a single-story building. The strong tenant, Dollar Bank, reportedly holds over $174 million in deposits, indicating financial stability and a low risk profile. The location benefits from high traffic counts exceeding 17,000 vehicles daily and a desirable demographic with an average household income of $91,236 within a 3-mile radius. This is a rare opportunity to acquire a stable, high-performing net lease investment in a thriving retail center. The property's long-term historical occupancy since 2008 further underscores its value and potential for continued strong returns. This is an ideal addition to any diversified real estate portfolio.

Highlights

  • NNN single-tenant Dollar Bank building.
  • Dollar Bank tenant with over $174 million in deposits.
  • Located in Penn Hills Shopping Center, Pittsburgh, PA.
  • 100% occupancy since 2008.
  • High traffic count exceeding 17,000 vehicles daily.
  • Average household income of $91,236 within a 3-mile radius.

Property Details for 218 Rodi Rd

Property type
Retail properties, Banks
Square Feet
3,200 SF
Year Built
2008
Buildings
1
Stories
1
Lot Size (sq. ft)
14,810 SF
Units
1

Location Insight

City
Pittsburgh
County
Allegheny
State
Pennsylvania
Latitude
40.4630905
Longitude
-79.8249032
218 Rodi Rd, Pittsburgh, Pennsylvania

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218 Rodi Rd
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