Mixed Use Building (10-Tenant) | Pittsburgh MSA

3901 Washington Rd, Canonsburg, PA 15317, USA
$5,300,000

Description

Marcus & Millichap is pleased to present for sale Crossroads Commons located at 3901 Washington Road in McMurray, Pennsylvania. Located in the Greater Pittsburgh Region, which is home to 2.4 million residents, has a distinct regional identity and has historically been regarded as a transitional region within the Northeastern United States. The City of Pittsburgh has been characterized as the “northern urban industrial anchor of Appalachia”.
The 17,762 square foot mixed-use three-story building situated along the busy Washington Road retail corridor. The property features ground level retail and renovated second and third-floor professional office space with highly visible pylon signage. The building includes a newly repaved parking lot, front-and-back atrium entrances, an elevator to access upper floors and 24-hour camera security. The ground level Citizens bank features a drive-thru ATM and has $443 million in deposits as of 2021. Crossroads Commons has provided consistent stable income with zero
tenants requesting rent concessions during COVID and is positioned to strengthen over time with the lease up of the remaining 10 percent of vacant space. The area surrounding this well- kept plaza includes many national tenants such as T.J. Maxx, Giant Eagle, Walgreens, CVS, PNC Bank, Taco Bell, Citizens Bank, Five Below, Applebee’s, ALDI and Dollar Tree among others.
Crossroads Commons located just off the corner of McMurray Road and Washington Road with a combined traffic count of has a combined 38,090 vehicles per day and is only 13 miles from Pittsburgh taking Washington Road north. The McMurray market provides the building and its tenants with very strong demographics. This affluent family-oriented suburb has 30,873 residents within a three-mile radius and an average household income of $139,568. In the immediate one-mile average household income increases to over $161,620.

  • Ten (10) Tenant 90% Occupied Mixed-Use Building
  • Located in Pittsburgh MSA with over 2.4 Million Residents| 13 Miles South of Pittsburgh
  • Outparcel to 102,000 Square Foot T.J. Maxx, Giant Eagle Supermarket and Five Below Center
  • Affluent Area | Average Household Income Exceeds $161,620
  • 38,090 Vehicles Per Day at Corner of Washington Road and McMurray Road
  • Long Term Tenancy
  • Easy Access, Tremendous Visibility with 375 Feet of Frontage on Washington Road
  • Minimal Landlord Expenses | All Tenants Reimburse Real Estate Taxes, Maintenance and Insurance Making it an Attractive Investment for a Passive Investor
  • No Concessions Requested During COVID
  • Owner Willing to Stay On To Manage Center

Property Documents

  • Crossroads-Commons-McMurray-PA-om-ib
  • City: McMurray
  • State/county: Pennsylvania
  • Zip/Postal Code: 15317
  • Country: United States

Detail

  • Price: $5,300,000
  • Year Built: 2016

Additional details

  • CAP RATE: 5.94%
  • NOI: $314,750

Features

Video

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