610 Evans St McKeesport, PA 15132
- Retail properties
- 5,262 SF
Current Use by Public Records
- Retail properties
Property Details for 610 Evans St
- Year built
- 1925
- Property size
- 5,262 SF
- Property type
- Retail properties
- Property subtype
- Bars
Description
This exceptional investment opportunity encompasses a thriving mixed-use property in McKeesport, PA. The offering includes the established "Double S Saloon" bar, complete with all equipment, a liquor license (including amusement, Sunday sales, and tobacco/cigarette sales permits), and a substantial inventory. Three income-generating apartments contribute to a strong cash flow, currently boasting 100% occupancy. The property consists of two buildings on three parcels, totaling 5,262 square feet on a 7,049 square foot lot, zoned C-5. The main building is a two-story structure built in 1925, housing the bar and apartments. A duplex is also included at 608 Evans St, and a vacant lot at 700 Evans St. The apartments generate $5,140 in monthly rent ($750 for a 1-bedroom, $650 for a 2-bedroom, and $900 for a 3-bedroom currently under renovation). The bar and office space generate an additional $2,800 monthly, plus additional income from an ATM, skill games, alcohol, and food sales. The property's prime location across from UPMC McKeesport Hospital in the East Suburbs of Pittsburgh offers significant potential for continued growth and profitability. The asking price is $830,000, representing a 6.21% cap rate based on real estate income alone. Additional bar revenue is available upon request to qualified buyers.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- McKeesport
- County
- Allegheny
- State
- Pennsylvania
- Longitude
- -79.8495
- Latitude
- 40.3499
