601 Pike StCanonsburg, PA 15317

Property Details for 601 Pike St

Year built

1965

Lot size

1.89 AC

Property size (Sq ft)

13,680 SF

Property type

Retail properties

Property subtype

Retail space

APN

100-023-00-00-0001-04

APU

1000230000000104

Description

This exceptional investment opportunity presents a 13,680-square-foot retail property currently leased to Rite Aid. Located at 601 W Pike St in Canonsburg, Pennsylvania (Washington County, zip code 15317), this property sits on a 1.89-acre lot and boasts a prime location on a signalized intersection. The building, constructed in 2004, generates a substantial net operating income (NOI) of $287,370, resulting in an attractive 8.21% capitalization rate. The current lease, a triple-net (NNN) agreement, commenced on June 14, 2005, and expires December 30, 2028, with two five-year renewal options. The property's assessed parcel number (APN) is 100-023-00-00-0001-04. This presents a compelling opportunity for passive income generation with significant remaining lease term and a strong tenant history. The asking price for this well-positioned retail asset is $3,500,000. This property offers a rare combination of stability, high yield, and significant upside potential. The property's location and the strength of the tenant make this an ideal addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $3,824,386

  6.5%

  $3,530,202

  7%

  $3,278,045

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,224,660

  Geo Method

  $3,224,660

• Alternative Use

  Use

  Valuation

  Residential

  $2,977,858

  Hospitality

  $2,727,702

  Educational

  $2,269,416

  Medical

  $2,347,464

  Retail

  $3,530,202

Location Insight

City

Canonsburg

County

Washington

State

Pennsylvania

Latitude

40.2569

Longitude

-80.2038

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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