981 Old Brick RdWest Alexander, PA 15376

Property Details for 981 Old Brick Rd

Lot size

17.83 AC

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 17.83 to 25.9-acre commercial and industrial land parcel presents a unique investment opportunity in West Alexander, Pennsylvania. Strategically located at the end of the I-70 ramp, this site boasts a zero-turn radius for unparalleled accessibility. The property features a completed rough grading and an approved final grading permit, with an estimated 12-13 flat acres available post-grading. Existing improvements include an 1800 sq. ft. fabric building. Utilities are readily available, including electricity, water, and cable on-site, with sewer and gas at the street. Stormwater infrastructure is already installed. This location offers exceptional visibility and accessibility, benefiting from its proximity to the Pennsylvania Turnpike, Pittsburgh, and Columbus, Ohio. It's also a mere ten-minute drive from the Highlands Mega shopping district. The site sits on one of Pennsylvania's busiest roadways, I-70, experiencing a 2022 Daily Vehicle Miles of Travel (DVMT) of 3,510,405. The property is currently leased, with the lease including inflation adjustments. The current lease, covering approximately 3.3 acres, generates a pro-forma NOI of $85,000 and a pro-forma cap rate of 1.79%. However, projections based on applying the existing lease rate to the 12+ improved acres (prior to completing remaining earthwork) indicate a significantly higher cap rate exceeding 8%. Note that there is no zoning on the property. An Energy Community Tax Credit Bonus may also be available. Further details are available upon request. A drone video showcasing the property is available online.

Location Insight

City

West Alexander

County

Washington

State

Pennsylvania

Latitude

40.1011

Longitude

-80.5062

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