248 Seneca StOil City, PA 16301

Property Details for 248 Seneca St

Lot size

0.48 AC

Property type

Banks

APN

16,034.-010..-000

APU

16034010000

Description

This exceptional three-story, 24,156 square foot commercial building in Oil City, Pennsylvania, presents a compelling investment opportunity. Located at 248 Seneca St, this property boasts a prime location and is zoned C-2. The building, constructed in 1955, features a total of four units across its three floors and includes an elevator. Currently, the building is 66.66% occupied, with PNC Bank retaining the second floor and ATM drive-thru. The entire first floor (approximate square footage) is available for owner-occupancy, offering significant potential. The asking price is $515,000, translating to $21.32 per square foot. This multi-tenant property sits on a 0.48-acre lot (APN: 16-034-010.0-000.00) and is being offered for sale by owner. The building is well-maintained and features first-class finishes. This is a rare opportunity to acquire a substantial commercial property in a desirable location with existing tenancy and significant upside potential. The property is owned by PNC Bank and is not subject to a ground lease.

• CAP approach

  CAP return

  Valuation

  6%

  $6,557,772

  6.5%

  $6,053,328

  7%

  $5,620,948

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,381,675

  Geo Method

  $10,534,975

• Alternative Use

  Use

  Valuation

  Residential

  $5,106,209

  Hospitality

  $4,677,260

  Educational

  $3,891,425

  Medical

  $4,025,258

  Retail

  $6,053,328

Location Insight

City

Oil City

County

Venango

State

Pennsylvania

Latitude

41.4354

Longitude

-79.7092

CBSA code

36340

CBSA name

OIL CITY, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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