926 Diamond Park SqMeadville, PA 16335

Property Details for 926 Diamond Park Sq

Property size (Sq ft)

3,000 SF

Property type

Mixed-use properties

Property subtype

Multifamily properties

Description

This exceptional mixed-use property, located at 926 Diamond Park Square in the heart of Meadville, Pennsylvania, presents a compelling investment opportunity. The two-story building, totaling 3,000 square feet, comprises three units: two apartments and one commercial space. Currently operating at 33% occupancy as of November 10, 2023, this stabilized investment boasts a 9.13% cap rate and a Net Operating Income (NOI) of $20,000. The asking price is $219,000, translating to $73 per square foot and $73,000 per unit. The building features a new metal roof (installed in 2020) and the commercial space includes a reception area, restroom, two offices/retail spaces, a closet, and storage. Situated on a 2,598 square foot lot in a high-traffic area with numerous surrounding businesses, this property benefits from excellent visibility and accessibility. The property is zoned for commercial use and offers significant potential for increased occupancy and revenue. This is an ideal opportunity for owner-occupancy or a savvy investor seeking a strong return in a prime Meadville location. The building is a Class B property with a triple net (NN) lease.

Location Insight

City

Meadville

County

Crawford

State

Pennsylvania

Latitude

41.638

Longitude

-80.1509

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