1331 Freeport RdCheswick, PA 15024

Property Details for 1331 Freeport Rd

Year built

1970

Lot size

1.29 AC

Property type

Office properties

Property subtype

Office buildings

APN

530-P-232

APU

530P232

Description

This exceptional mixed-use property in Cheswick, Pennsylvania, presents a compelling investment opportunity. The 12,000-square-foot building, situated on a 1.29-acre lot (APN 8000-T-01809-0000-00), features seven recently renovated (2019) residential apartments above five main-level commercial storefronts. All apartments are currently occupied, with tenants responsible for most utilities. The building boasts ample parking for residents and commercial tenants, and benefits from high visibility signage along Freeport Road. Its convenient location offers easy access to the Pennsylvania Turnpike and Route 28, as well as nearby shopping centers and Target. The property is zoned C-1 and includes a vacant, buildable lot at the rear, presenting potential for expansion (subject to approvals). A basement area offers potential for additional development, such as a laundry facility. The asking price is $1,200,000 ($100/sq ft). This fully operational, income-producing property offers immediate returns and significant upside potential through value-added improvements and expansion. A minimum 48-hour notice is required for showings. Please do not disturb tenants. Additional information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $12,008,553

  6.5%

  $11,084,818

  7%

  $10,293,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,748,686

  Geo Method

  $11,253,423

• Alternative Use

  Use

  Valuation

  Residential

  $13,745,175

  Hospitality

  $12,590,506

  Educational

  $10,475,153

  Medical

  $10,835,410

  Retail

  $16,294,683

Location Insight

City

Cheswick

County

Allegheny

State

Pennsylvania

Latitude

40.5413

Longitude

-79.8104

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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