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    Route 88 Finleyville, PA 15332

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    Prime commercial property with customizable spaces available for lease.

    Type:Retail, Land, Restaurant
    Property size:
    50,000 SF
    Added:
    Aug 28, 2024
    Days on Market:
    611
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for Route 88

    General Information

    Standard status
    Active
    Size
    50,000 SF
    Property subtype
    Retail, Land, Restaurant

    Spaces For Lease

    at Route 88 Contact us

    We can help!

    Listing Contact
    Andreas Kamouyerou

    Listing agent Andreas Kamouyerou License #PA RS340004

    Listing office SVN | Three Rivers Commercial Advisors

    Listing date Aug 28, 2024

    Source Crexi

    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 SVN | Three Rivers Commercial Advisors

    Overview

    Route 88 Leasing Opportunity

    This leasing opportunity is located on Route 88 in Finleyville, PA. The property offers customizable spaces ranging from 1,500 to over 50,000 square feet for lease or ground lease, allowing for flexible configurations. The current development configuration includes a 15,000 square foot multi-tenant building, a 21,000 square foot multi-tenant building, a 7,000 square foot restaurant with a drive-thru, and a fuel station featuring a car wash. The location benefits from high visibility on Route 88, with an average daily traffic count of over 11,000 vehicles. The property also features two pylon signs.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Finleyville
    County
    Washington
    State
    Pennsylvania
    Longitude
    -79.985
    Latitude
    40.25

    Nearby Similar for Lease

    • $424,900 SF/Yr

      Versatile Commercial Space in Finleyville

      4,000 sq ft commercial space suitable for various business types.
      3529 Washington Ave, Finleyville, PA 15332
      View Details
    • $997,500 SF/Yr

      Commercial Development Site For Lease

      2.73-acre commercial land parcel available for lease in Union Twp.
      6233-6235 State Route 88, Union Twp, PA 15332
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime commercial property with customizable spaces available for lease.
    Where is this retail property located?
    The property is located at Route 88 Finleyville, PA.
    What are key features of this property?
    This property features: Prime visibility on Rt 88 with 11,000+ ADT.; Customizable space ranging from 1,500 to 50,000+ SF for lease or ground lease.; Flexibility for alternative configurations.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andreas Kamouyerou
    Real Estate License ID: PA RS340004
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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