100 Tarentum Brg Rd New Kensington, PA 15068-4670

Property Details for 100 Tarentum Brg Rd

Year built

1963

Lot size

5.64 lot acres

Property size

136,184 SF

Property type

Commercial real estate

APN

24-02-09-0-005

APU

2402090005

Description

This exceptional 46,077-square-foot shopping center in New Kensington, PA, presents a compelling investment opportunity. Located at 100 Tarentum Bridge Road, this single-story, 1963-built property boasts a strong 8.00% cap rate and a Net Operating Income (NOI) of $535,304. The asking price is $6,691,300, translating to $145.22 per square foot. Currently housing nine tenants under a triple-net (NNN) lease structure, the property enjoys 100% occupancy with a weighted average lease term (WALT) exceeding five years. Significant recent improvements include a new roof (July 2022), repaved parking lots (April 2023), and over $575,000 invested in the past two years. The property benefits from a shadow anchor, a newly constructed Aldi, and planned developments including a Starbucks and Harbor Freight within the next two years. A recent 25% rental increase demonstrates tenant strength, as evidenced by Staples exercising a five-year option. While one tenant's lease is expiring early 2025, they have expressed interest in renewing at a potentially higher rate. The property is strategically located in a high-traffic area with over 23,643 vehicles per day on Tarentum Bridge Road, and serves a strong demographic area with 66,904 residents within a five-mile radius, boasting an average household income of $74,280. Nearby retailers include Giant Eagle, Walgreens, and other national brands. This is a rare opportunity to acquire a well-maintained, high-performing retail asset with significant upside potential.

Location Insight

City

New Kensington

County

Westmoreland

State

Pennsylvania

Longitude

-79.7495

Latitude

40.591

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments