501 Allegheny River BlvdVerona, PA 15147

Property Details for 501 Allegheny River Blvd

Lot size

0.54 AC

Property type

Retail space

APN

365-B-178

APU

365B178

Description

This exceptional retail property, located at 501 Allegheny River Blvd in Verona, Pennsylvania, presents a compelling investment opportunity. The 2,300 square foot building, situated on a half-acre lot (23,622 sq ft), is currently 100% occupied, with the lease expiring May 31, 2024. Originally constructed in 1975 and renovated in 2005, this Class B building features a single unit with an open bay area, office space, showroom, and an 8-foot overhead door, making it suitable for a variety of uses including auto shops, quick-service restaurants, or storefronts. The property boasts excellent visibility and convenient access, situated in a high-traffic area. All public utilities are available. The asking price is $359,000, translating to $156.09 per square foot. This property offers significant potential for owner-users seeking a versatile space in a thriving market, serving a demographic of 152,000 people within a 5-mile radius. The Allegheny County location, with APN 0365-B-00178-0000-00, provides easy ingress and egress, maximizing exposure for any business. This is a rare opportunity to acquire a well-maintained, strategically located retail building in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $7,586,656

  6.5%

  $7,003,068

  7%

  $6,502,848

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,245,066

  Geo Method

  $11,901,916

• Alternative Use

  Use

  Valuation

  Residential

  $5,907,350

  Hospitality

  $5,411,100

  Educational

  $4,501,972

  Medical

  $4,656,802

  Retail

  $7,003,068

Location Insight

City

Verona

County

Allegheny

State

Pennsylvania

Latitude

40.5017

Longitude

-79.843

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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