502 Main StFord City, PA 16226

Property Details for 502 Main St

Year built

1965

Lot size

0.62 AC

Property size (Sq ft)

5,056 SF

Property type

Retail properties

Property subtype

Gas stations

APN

29-0-021245

APU

290021245

Description

This prime Ford City, PA retail center offers a compelling investment opportunity. The 4,800 square foot, Class A shopping center boasts a stabilized investment profile with a current NOI of $48,661 and a pro-forma NOI of $78,661, translating to an 8.25% cap rate and a pro-forma cap rate of 13.33%. Currently 70% occupied by a credit-rated Subway tenant under a triple-net lease with seven years remaining, the property presents significant upside potential. The single-story building, constructed in 1990, sits on a 0.4-acre lot with 15 parking spaces and is zoned for commercial use. Located at 502 Main St, the property benefits from high visibility on Business Route 66, featuring approximately 145 feet of frontage at a signalized intersection across from a Sheetz convenience store. The property is comprised of four units and offers potential for expansion with the option to purchase three adjacent houses for an additional $375,000. The asking price is $590,000, with a price per square foot of $122.92. All information is believed to be accurate but should be independently verified.

• CAP approach

  CAP return

  Valuation

  6%

  $1,585,733

  6.5%

  $1,463,754

  7%

  $1,359,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,301,342

  Geo Method

  $2,547,460

• Alternative Use

  Use

  Valuation

  Residential

  $1,234,731

  Hospitality

  $1,131,007

  Educational

  $940,985

  Medical

  $973,346

  Retail

  $1,463,754

Location Insight

City

Ford City

County

Armstrong

State

Pennsylvania

Latitude

40.7644

Longitude

-79.5273

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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