1534 Center AveSomerset, PA 15501

  • Mixed-use properties
  • 10.04 AC
For Lease

Property Details for 1534 Center Ave

Year built
1970
Lot size
10.04 AC
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
S42-007-059-001
APU
S42007059001

Description

This exceptional retail property, Somerset Commons, located at 1534 N Ctr Ave, Somerset, PA 15501, presents a unique investment chance. The single-story building comprises ten individual suites, totaling 5,500 square feet, with one currently available for lease. Situated in Somerset County, Pennsylvania, this property offers excellent visibility and accessibility for businesses seeking a thriving retail environment. The building's single-story design provides convenient access for customers and employees. The multiple tenancy structure allows for diverse business opportunities within the same location, fostering a vibrant and synergistic community. The property's location in Somerset offers access to a strong local market and provides ample opportunities for growth and expansion. This is an ideal space for small shops and stores looking to establish a presence in a well-established commercial area. The available suite offers a blank canvas for customization, allowing businesses to create a space that perfectly reflects their brand and operational needs. Interested parties are encouraged to inquire about lease terms and availability. This is a rare opportunity to secure a prime retail space in a desirable location. The property's convenient location and ample space make it an attractive option for a variety of retail businesses. Don't miss out on this chance to establish your business in a thriving community.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $104,050,464
    6.5%
    $96,046,584
    7%
    $89,186,112
  • Comparable approach

    Method
    Valuation
    Relative Method
    $87,407,368
    Geo Method
    $87,407,368
  • Alternative Use

    Use
    Valuation
    Residential
    $119,097,760
    Hospitality
    $109,092,912
    Educational
    $90,764,024
    Medical
    $93,885,536
    Retail
    $141,188,480
1534 Center Ave, Somerset, Pennsylvania

Location Insight

City
Somerset
County
Somerset
State
Pennsylvania
Latitude
40.0341
Longitude
-79.0738
CBSA code
43740
CBSA name
SOMERSET, PA MICROPOLITAN 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
$62,164
-
-
$1,006,220
-
$213,350
$1,799,070
$2,012,420

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].