248 Seneca StOil City, PA 16301
- Retail properties
- 0.48 AC
Property Details for 248 Seneca St
- Lot size
- 0.48 AC
- Property type
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
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