173-197 Main St Mansfield, PA 16933

Property Details for 173-197 Main St

Year built

1971

Lot size

3.68 lot acres

Property size

52,339 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This Mansfield, PA shopping center presents a compelling value-add opportunity. The 52,339 square foot property boasts a strong tenant roster, including national anchors Dollar General and CVS Pharmacy, along with Pizza Hut, Rent-A-Center, H&R Block, and four additional tenants. Currently operating at 73.31% occupancy, the property offers significant upside potential through leasing of a 13,969 square foot vacant space. Situated on a 3.68-acre lot at 173-197 N Main St, the single-story, 1971-built center benefits from high visibility and convenient access on a major commercial corridor. The property's location near Mansfield Commonwealth University and major highways provides a strong trade area with over 32,900 people within a 15-mile radius and an average household income exceeding $85,443. The property features two pylon signs and ample parking. The asking price is $4,484,240, with a current NOI of $336,318 and a 7.50% cap rate. This is a fee simple ownership opportunity with nine total tenants across ten units. The property's strategic location and strong tenant mix make it an attractive investment prospect. The surrounding area includes numerous national retailers, further enhancing the property's appeal and drawing significant traffic. The property's proximity to Mansfield Commonwealth University and the Tioga State Forest adds to the area's vibrancy and economic activity. The vacant space presents an opportunity to increase rental income and further enhance the property's value.

Location Insight

City

Mansfield

County

Tioga

State

Pennsylvania

Longitude

-77.081

Latitude

41.8112