Perkins Absolute NNN
For Sale
Contact for pricing
Pending
2945 East State Street, Hermitage, PA 16148
Freestanding restaurant property supported by a long-term absolute net lease and multiple renewal options.
Property Size4,830 SF
Lot Size1.72 Acres
Days on Market144
Property Features for 2945 East State Street
General Information
Standard status
Pending
Size
4,830 SF
Lot size
1.72 Acres
Property subtype
Retail
Occupancy
100%
Site & Location
Traffic Count
15,842 vehicles/day
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
Marcus & Millichap - Columbus
(216) 264-2000
Listed By:
Craig Fuller · License #OH 2008001551
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 31 at 1:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
Perkins Restaurant & Bakery occupies a 4,830-square-foot freestanding restaurant on 1.72 acres at 2945 East State Street. The property is subject to an absolute net lease running through February 2038, with four additional five-year options. The lease provides annual increases based on the lesser of two percent or 1.25 times the annual change in the consumer price index, while placing maintenance, repair, and replacement obligations with the tenant.
The property fronts East State Street, identified as Hermitage’s primary commercial corridor, with reported traffic of over 15,842 cars per day. The nearby intersection of North Hermitage Road records 34,210 cars per day. The surrounding area includes 35,788 residents within three miles and 50,594 within five miles, along with national retailers, restaurants, fitness, grocery, home improvement, entertainment, and automotive users. Planned property improvements include HVAC work and updates to the bakery, dining room, and exterior.
The property fronts East State Street, identified as Hermitage’s primary commercial corridor, with reported traffic of over 15,842 cars per day. The nearby intersection of North Hermitage Road records 34,210 cars per day. The surrounding area includes 35,788 residents within three miles and 50,594 within five miles, along with national retailers, restaurants, fitness, grocery, home improvement, entertainment, and automotive users. Planned property improvements include HVAC work and updates to the bakery, dining room, and exterior.
Key Highlights
- 4,830‑square‑foot freestanding restaurant on 1.72 acres
- Absolute net lease extends through February 2038
- Four five‑year renewal options included
Property Analytics
Property Profile
Current Use
Lease Details
15,842 VPD
Traffic count
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
386k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 21%
Apparel 9%
Home Improvements & Furnishings 9%
Hobby Lobby
Shops & Services
32,457 visits/mo
0.3 miles
Kohl's
Apparel
27,471 visits/mo
0.4 miles
Aldi
Groceries
26,661 visits/mo
0.2 miles
McDonald's
Dining
26,223 visits/mo
0.3 miles
Starbucks
Dining
24,727 visits/mo
0.3 miles
Demographics for 16148, PA
16,673
Population
8,182
Households
2
Avg Household Size
50
Median Age
35%
College-Educated
92%
High-School Grad
31.5 sq mi
ZIP Area
529
Density / Sq Mi
$72,680
Median Household Income
$49,494
Median Earnings
$868
Median Rent
$186,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding restaurant property supported by a long-term absolute net lease and multiple renewal options.
Where is this nnn property located?
The property is located at 2945 East State Street Hermitage, PA.
What are key features of this property?
This property features: 4,830‑square‑foot freestanding restaurant on 1.72 acres; Absolute net lease extends through February 2038; Four five‑year renewal options included
