429 Main StSomerset, PA 15501

Property Details for 429 Main St

Year built

1951

Lot size

0.30 AC

Property type

Retail properties

Property subtype

Gas stations

APN

S41-035-044-000

APU

S41035044000

Description

This 1,581 square foot vacant auto shop, located at 429 E Main St, Somerset, PA 15501, presents a unique investment opportunity. The property, situated on a 0.3-acre lot, boasts 14 parking spaces and is zoned for commercial use. Built in 1951, the single-story building features a metal roof and measures 31 feet by 51 feet. One in-ground hoist is included in the sale price of $80,000. A second lift, currently owned by a previous tenant, may be available for separate purchase. The property's history includes use as a former gas station and more recently as an auto repair shop. Its prime location offers excellent visibility and high traffic counts, making it suitable for a variety of retail businesses with some renovations. The property's APN is s41-035-044. This is a vacant property ready for its next chapter. Consider the potential for conversion to a different retail use.

• CAP approach

  CAP return

  Valuation

  6%

  $4,572,168

  6.5%

  $4,220,462

  7%

  $3,919,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,584,296

  Geo Method

  $6,584,296

• Alternative Use

  Use

  Valuation

  Residential

  $3,560,118

  Hospitality

  $3,261,049

  Educational

  $2,713,154

  Medical

  $2,806,464

  Retail

  $4,220,462

Location Insight

City

Somerset

County

Somerset

State

Pennsylvania

Latitude

40.0075

Longitude

-79.0706

CBSA code

43740

CBSA name

SOMERSET, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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