Kohl's Retail
New
For Sale
$13,950,000
3624 William Penn Hwy, Monroeville, PA 15146
The Monroeville location carries a corporate guarantee and an occupancy history of more than 28 years.
Property Size93,000 SF
Price / SF$150
Days on Market3
Property Features for 3624 William Penn Hwy
General Information
Standard status
Active
Size
93,000 SF
Property subtype
Department Store
Lease Type
NN
Additional Details
Cap Rate
9%
Tenant in Place
Yes
Amenities
Corporate-Guaranteed Kohl's Lease (NYSE: KSS)
28+ Year Operating History with Continued Commitment and 2022 Roof Replacement
Attractive Nine Percent Going-In Yield with Contractual Rent Growth and Percentage Rent Upside
Adjacent to Monroeville Mall | Acquired by Walmart in 2025
Premier Retail Corridor | Pittsburgh MSA Location
9.54-Acre Site | Below-Market Rent and Below Replacement Cost
Building Details
Building Size
93,000 SF
Tenancy
Single
Listed By:
Timothy B. Stephenson Jr · License #License(s) PA: RMR006104
(215) 531-7000
Source:
Marcusmillichap
Added: Oct 23
Last Checked: Oct 24 at 1:27PM
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 Timothy B. Stephenson Jr
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 93,000-square-foot retail property is occupied by Kohl's and carries a corporate guarantee. The reported occupancy history exceeds 28 years.
The property is located at 3624 William Penn Hwy in Monroeville, Pennsylvania, within the Pittsburgh MSA.
The property is located at 3624 William Penn Hwy in Monroeville, Pennsylvania, within the Pittsburgh MSA.
Key Highlights
- 93,000 square feet of retail space
- Occupied by Kohl's
- Corporate guarantee
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,083,915
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,678,300
$21.7M
Cap Rate 7%
$15,484,500
$15.5M
Cap Rate 9%
$12,043,500
$12.0M
Market Conditions
NOI Build-Up for 93,000 SF
Gross rent
$1.67M $18.00/SF
− Vacancy
−$125.6K −$1.35/SF
EGI
$1.55M $16.65/SF
− OpEx
−$464.5K −$5.00/SF
NOI
$1.08M $11.66/SF
Area
Allegheny County, PA
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,678,300
Cap Rate 7%
$15,484,500
Cap Rate 9%
$12,043,500
Alternative Uses
Best Use
Retail
$15.48M
$13.55M – $18.07M
NOI $1,083,915 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.69M
$20.73M – $27.64M
NOI $1,658,197 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
434k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 25%
Apparel 21%
Superstores 20%
Home Improvements & Furnishings 14%
Sam's Club
Superstores
87,441 visits/mo
0.3 miles
Kohl's
Apparel
48,869 visits/mo
0.0 miles
Macy's
Apparel
43,781 visits/mo
0.4 miles
Barnes & Noble
Shops & Services
33,526 visits/mo
0.2 miles
Best Buy
Electronics
28,996 visits/mo
0.2 miles
Demographics for 15146, PA
28,672
Population
13,508
Households
2.1
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
19.6 sq mi
ZIP Area
1,463
Density / Sq Mi
$78,295
Median Household Income
$48,073
Median Earnings
$1,163
Median Rent
$197,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - The Monroeville location carries a corporate guarantee and an occupancy history of more than 28 years.
Where is this retail space located?
The property is located at 3624 William Penn Hwy Monroeville, PA.
What is the asking price?
The asking price for this property is $13,950,000.
What are key features of this property?
This property features: 93,000 square feet of retail space; Occupied by Kohl's; Corporate guarantee
