1830 Pennsylvania AveWest Mifflin, PA 15122

  • Retail properties
  • 2.27 AC
For Sale
$2,060,239 View listing

Property Details for 1830 Pennsylvania Ave

Lot size
2.27 AC
Property type
Retail properties
Property subtype
Outlet malls
APN
306-E-1
APU
306E1

Description

This exceptional investment opportunity presents a fee-simple, Class A, 12,480 square foot Dollar General store in West Mifflin, Pennsylvania. The property boasts a strong absolute NNN lease with a credit-rated corporate guarantor, ensuring minimal landlord responsibilities. The lease, originally commencing July 28, 2013, has a remaining term of approximately 8.7 years, with three 5-year options at 10% rent increases each. The current annual net operating income (NOI) is $144,216, representing a 7.00% cap rate on the $2,060,239 asking price. Located on a 2.2-acre lot at 1830 Pennsylvania Ave, West Mifflin, PA 15122, this single-story building was constructed in 2013 and benefits from a high-traffic location within a densely populated area. The property's strong demographics, including an average household income of $84,965 within a 5-mile radius and approximately 153,973 people within the same radius, contribute to its exceptional investment potential. Dollar General's long-term commitment, evidenced by a recent five-year lease extension, further solidifies this asset's value. The property's size and location make it an ideal investment for those seeking a stable, high-performing retail asset with significant upside potential. The property is approximately 11 miles from Downtown Pittsburgh.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $34,637,280
    6.5%
    $31,972,876
    7%
    $29,689,098
  • Comparable approach

    Method
    Valuation
    Relative Method
    $49,880,528
    Geo Method
    $49,880,528
  • Alternative Use

    Use
    Valuation
    Residential
    $26,970,316
    Hospitality
    $24,704,666
    Educational
    $20,553,992
    Medical
    $21,260,874
    Retail
    $31,972,876
1830 Pennsylvania Ave, West Mifflin, Pennsylvania

Location Insight

City
West Mifflin
County
Allegheny
State
Pennsylvania
Latitude
40.3625
Longitude
-79.8628
CBSA code
38300
CBSA name
PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$46,872
$163,500
$984,500
$1,148,000
-
$163,500
$984,500
$1,148,000

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