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    601 W Pike St Canonsburg, PA 15317

    For Sale
    $3,500,000

    High-yield retail property with strong tenant.

    Property size:
    13,680 SF

    Description

    Added:
    Jan 20, 2025
    Days on Market:
    330
    This exceptional investment opportunity presents a freestanding Rite Aid building situated at 601 W Pike St, Canonsburg, PA 15317. Constructed in 2004, the 13,680 square foot building sits on a 0.31-acre lot and enjoys a prominent location at a signalized intersection. Rite Aid has occupied the property since 2005, with a lease currently boasting over four years remaining, including two five-year renewal options. The triple-net (NNN) lease structure ensures a passive income stream for the investor. The property's net operating income (NOI) stands at $287,370, translating to an attractive 8.2% capitalization rate (CAP Rate), making this a compelling investment prospect. The asking price is $3,500,000. This property is ideally suited for investors seeking a stable, high-yield retail investment with a strong tenant and significant lease term remaining. The strategic location and favorable lease terms combine to create a compelling opportunity for long-term growth and passive income generation.

    Property Features for 601 W Pike St

    General Information

    Property type
    Retail residential properties
    Square Feet
    13,680 SF
    Price / Square Foot
    $255
    Elevators
    N/A
    Lot Size
    13,680 SF
    Net Operating Income
    $287,370

    Building Details

    Year Built
    2004
    Buildings
    1
    Stories
    1

    HighLights

    • Prime Canonsburg, PA location on a signalized intersection.
    • Strong, long‑term tenant (Rite Aid) since 2005 with lease extension options.
    • Exceptional 8.2% CAP rate and $287,370 net operating income.
    Insight Report Location Intelligence

    Current Use by Public Records

    Rite Aid Pharmacy Pharmacy Rite Aid Drug Store Coinhub Bitcoin ATM ... Atm CDReload - Online Bitcoin ... Crypto Atm Western Union Money Transfer Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Canonsburg
    State
    Pennsylvania
    Longitude
    -80.203843
    Latitude
    40.256905

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    FAQs

    What type of property is this?
    Retail residential property - High-yield retail property with strong tenant.
    Where is this retail residential property located?
    The property is located at 601 W Pike St Canonsburg, PA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Prime Canonsburg, PA location on a signalized intersection.; Strong, long-term tenant (Rite Aid) since 2005 with lease extension options.; Exceptional 8.2% CAP rate and $287,370 net operating income.
    (724) 825-3137
    Request Owner's contact information
    601 W Pike St Canonsburg, PA 15317
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    Canonsburg, PA 15317
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    601 W Pike St Canonsburg, PA 15317
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