509 Rodi RdPittsburgh, PA 15235

Property Details for 509 Rodi Rd

Lot size

1.38 AC

Property type

Car washes

APN

450-R-210

APU

450R210

Description

This exceptional 45,000 square foot retail property located at 509 Rodi Rd, Pittsburgh, PA 15235, presents a unique redevelopment opportunity. Currently vacant, this single-story building sits on a prime location with M-Multiple use zoning, allowing for diverse development options. The asking price is $299,000, translating to a price per square foot of $6.64. The property's potential is further enhanced by its 8.00% projected cap rate. Previously used as a bank, convenience store, and QSR/fast food establishment, this versatile space offers significant flexibility for future tenants. The property's convenient location near I-376, one mile from the Penn Hills exit, ensures high visibility and accessibility. While the previous tenant's credit rating is unavailable, the property is currently vacant and ready for immediate redevelopment. The property's occupancy date was February 20, 2023. This is an ideal investment for developers seeking a high-return opportunity in a thriving Pittsburgh market. The property's size and zoning provide ample room for creativity and innovation, making it a truly exceptional investment prospect. The seller is offering the property "as is".

• CAP approach

  CAP return

  Valuation

  6%

  $20,631,506

  6.5%

  $19,044,466

  7%

  $17,684,148

• Comparable approach

  Method

  Valuation

  Relative Method

  $27,350,990

  Geo Method

  $30,314,064

• Alternative Use

  Use

  Valuation

  Residential

  $16,064,720

  Hospitality

  $14,715,197

  Educational

  $12,242,871

  Medical

  $12,663,923

  Retail

  $19,044,466

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4532

Longitude

-79.8244

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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