985 Penn StBrackenridge, PA 15014

Property Details for 985 Penn St

Lot size

0.24 AC

Property type

Medical offices

Property subtype

Medical centers

APN

1367-K-148

APU

1367K148

Description

This exceptional investment opportunity presents a fully occupied, two-level brick commercial building situated at 985 Penn Street in Brackenridge, Pennsylvania. The property boasts a total area of 5,004 square feet, with each level comprising 2,502 square feet. Currently, the building is utilized as a medical office space, housing multiple tenants. The building is conveniently located and features an attractive exterior. The interior has been thoughtfully updated, with the lower level undergoing renovations in 2021. A significant feature is the large reception and waiting area, catering to the needs of the medical practice. The building is ADA compliant, ensuring accessibility for all. The property sits on a 0.24-acre lot. Importantly, the tenants are responsible for their respective utility costs, and the property taxes are shared equally between the tenants. The current asking price for this prime investment property is $400,000. This presents a strong return on investment opportunity due to the stable tenancy and the desirable location. The existing furniture within the building is owned by the tenants. This turnkey operation requires minimal owner involvement, making it an ideal addition to any investment portfolio. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $2,189,677

  6.5%

  $2,021,240

  7%

  $1,876,866

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,048,233

  Geo Method

  $2,051,984

• Alternative Use

  Use

  Valuation

  Residential

  $2,506,338

  Hospitality

  $2,295,792

  Educational

  $1,910,072

  Medical

  $1,975,762

  Retail

  $2,971,223

Location Insight

City

Brackenridge

County

Allegheny

State

Pennsylvania

Latitude

40.6132

Longitude

-79.742

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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