78 Mill StPort Allegany, PA 16743

  • Other commercial real estate
  • 0.89 AC
For Lease

Property Details for 78 Mill St

Lot size
0.89 AC
Property type
Other commercial real estate
APN
14-007. -604.00.
APU
1400760400

Description

This exceptional 16,463-square-foot, two-story office building in Port Allegany, Pennsylvania, presents a unique investment opportunity. Situated on a 0.89-acre lot directly across from the town square, this prominent location boasts high visibility on a heavily traveled road (Historic Route 6) at the corner of Mill and Main Streets. The building, over 100 years old, retains its original charm with a grand foyer and double spiral staircase, yet features modern updates including central HVAC, energy-efficient double-paned windows, updated electrical and plumbing systems, and a new wheelchair lift. ADA-compliant entrances and bathrooms ensure accessibility. The property includes ample rear parking and two large storefront retail spaces, offering flexibility for various business needs. The entire 16,463 square feet is currently available for lease. The building's location within a thriving downtown area, close to amenities such as restaurants, medical facilities (Olean Medical Group), the US Post Office, Sheetz, Rite Aid, and the Fire Department, adds to its appeal. This is the only building of its kind in McKean County, a rural area in northwestern Pennsylvania situated atop rich Marcellus and Utica Shale fields. The property offers tremendous upside potential for income generation. The zoning is commercial. The building consists of one structure with two stories.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $8,050,090
    Hospitality
    $7,373,838
    Educational
    $6,134,947
    Medical
    $6,345,938
    Retail
    $9,543,251
78 Mill St, Port Allegany, Pennsylvania

Location Insight

City
Port Allegany
County
Mckean
State
Pennsylvania
Latitude
41.8102
Longitude
-78.2804
CBSA code
14620
CBSA name
BRADFORD, PA MICROPOLITAN 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
$12,190
$38,770
$275,230
$314,000
-
$38,770
$275,230
$314,000

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