Mixed Use Building (18-Tenant) | Pittsburgh MSA

3515 Washington Rd, Canonsburg, PA 15317, USA
$6,550,000

Description

Marcus & Millichap is pleased to present for sale Krebs Center located at 3515 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 21,521 square foot eighteen-tenant plaza is situated on 3.8-acre parcel with roughly 735 feet of frontage on Washington Road includes a mix of medical, beauty, automotive, and fitness tenants among others. Krebs has provided consistent stable income with zero tenants requesting rent concessions during COVID and is positioned to strengthen over time with the ability to increase rents or lease up of the remaining 5 percent of vacant space. The area surrounding this well- kept plaza includes many national tenants such as Dunkin, Arby’s, Wendy’s, Goodwill, National Tire & Battery, McDonald’s, Bob Evans as well as a string of five major car dealerships.
Krebs Center located on Washington Road has over 25,310 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 32,342 residents within a three-mile radius and an average household income of $152,735. In the immediate one-mile average household income increases to over $170,000.

  • Eighteen (18) Tenant 95% Occupied Retail Center
  • Located in Pittsburgh MSA with over 2.4 Million Residents| 13 Miles South of Pittsburgh
  • Large 3.8-Acre Parcel
  • Affluent Area | Average Household Income Exceeds $170,270
  • 25,310 Vehicles Per Day on Washington 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

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

Detail

  • Price: $6,550,000

Additional details

  • CAP RATE: 6.40%
  • NOI: $418,988

Features

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