300 Water StKittanning, PA 16201

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

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.

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

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