100 Main St Reedsville, PA 17084
- Retail properties
Current Use by Public Records
- Michele's OIP Restaurant & Pizzeria / Pizza Restaurant / Family Restaurant
Property Details for 100 Main St
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
Exceptional investment opportunity in Reedsville, PA, featuring a mixed-use property at 100 S Main Street, 17084. This Class D property boasts two buildings, each single-story, totaling 31 parking spaces. The property includes a restaurant and traditional office space, currently occupied by two tenants with a strong history. One tenant, a county government entity, recently signed a new 10-year lease commencing January 2024, having occupied the space for over a decade. The restaurant tenant has been in operation for over 20 years and holds a lease extending to 2028. The property offers a compelling 8.12% cap rate with a current Net Operating Income (NOI) of $22,180, and an asking price of $273,000. Significant improvements have been made, including a new roof on the restaurant in 2022 and office renovations in 2016. The fee-simple ownership provides complete control, and rent bumps are built into the leases every five years, ensuring future income growth. This low-management property is ideal for novice investors or those seeking to expand their portfolio with a stable, high-yielding asset. The property's long-term tenants and favorable lease terms provide exceptional stability and predictable cash flow.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Reedsville
- County
- Mifflin
- State
- Pennsylvania
- Longitude
- -77.5944
- Latitude
- 40.6627
