300 Water StKittanning, PA 16201

  • Retail properties
  • 1,884 SF
For Sale
$1,364,000 View listing

Property Details for 300 Water St

Year built
2012
Lot size
0.30 AC
Property size (Sq ft)
1,884 SF
Zone code
BUSINESS
Property type
Retail properties
Property subtype
Turn key restaurants
APN
21-0-013946
APU
210013946

Description

This exceptional investment opportunity presents a 15-year absolute NNN ground lease for a Dunkin' restaurant located at 300 S Water St, Kittanning, PA 16201. The property, situated on a 0.3-acre lot, boasts 1,849 square feet of net rentable space and features 17 parking spaces. Built in 2012 and renovated in 2022, this Dunkin' location benefits from a strong position at the intersection of South Water Street and Mulberry Street, experiencing over 13,000 cars daily. The lease, guaranteed by the 75-unit Heartland Restaurant Group, includes a favorable 10% rent increase every five years, ensuring consistent income growth. The property offers a Net Operating Income (NOI) of $75,000 and a 5.50% capitalization rate, making it an attractive investment with a compelling asking price of $1,364,000. Kittanning serves as the county seat of Armstrong County, providing a stable and established market. This is the only exclusive Dunkin' franchisee in the Pittsburgh MSA. The property's recent remodel and prime location contribute to its strong performance and potential for future growth. This is a single-tenant, NNN lease.

300 Water St, Kittanning, Pennsylvania

Location Insight

City
Kittanning
County
Armstrong
State
Pennsylvania
Latitude
40.8108
Longitude
-79.5178
CBSA code
38300
CBSA name
PITTSBURGH, PA METROPOLITAN 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
$14,883
$75,370
$65,770
$141,140
-
$215,340
$187,910
$403,250

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