For Sale
$2,400,000

745 Raystown RdEverett, PA 15537

Net lease, 8,000 SF, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This 8,000 square foot medical office building in Everett, PA, offers a compelling investment opportunity. Located at 745 Raystown Rd, on a 2.68-acre lot, the property boasts high visibility and accessibility with over 3,800 vehicles passing daily. The building, completely renovated in 2023, is currently 100% occupied by UPMC under a net lease with a corporate guarantee from Community Medicine Inc., a UPMC subsidiary. The lease, with a remaining term of 9.2 years, expires January 31, 2034, and includes 10% rent bumps in year 6 and an option period. The asking price is $2,400,000, representing a price per square foot of $300 and a 7.24% cap rate based on a net operating income (NOI) of $173,873. Built in 2008, the property benefits from its proximity to major roadways including US Route 30, I-99, and the PA Turnpike (I-76), serving a regional patient base with average household incomes between $65,000 and $72,000. The substantial investment by UPMC in this state-of-the-art facility minimizes future maintenance concerns and ensures a stable, long-term income stream. The oversized lot provides potential for future redevelopment. This is a fee-simple ownership opportunity with minimal landlord responsibilities.

Highlights

  • Corporate guarantee by UPMC, a major Pennsylvania healthcare provider with over $23B in 2023 revenue.
  • New 10-year net lease with 10% rent increases every 5 years and a 5-year renewal option.
  • Completely renovated medical office building, eliminating deferred maintenance.
  • Net lease with minimal landlord responsibilities.
  • High visibility location on Raystown Road (PA-26), over 3,800 VPD, with excellent regional access via US-30, I-99, and the PA Turnpike (I-76).
  • Modern medical facility with state-of-the-art technology.

Property Details for 745 Raystown Rd

Property type
Retail properties, Office properties
Square Feet
8,000 SF
Year Built/Renovated
2008/2023
Lot Size (sq. ft)
116,741 SF

Location Insight

City
Everett
County
Bedford
State
Pennsylvania
Latitude
40.04499670595
Longitude
-78.363661959656
745 Raystown Rd, Everett, Pennsylvania

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745 Raystown Rd
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