6541 Steubenville PikePittsburgh, PA 15205

Property Details for 6541 Steubenville Pike

Lot size

0.72 AC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

335-F-30

APU

335F30

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,114 square foot Mission BBQ restaurant in Pittsburgh, PA. Located on a 0.72-acre outlot of a Kohl's-anchored shopping center, this single-tenant property boasts a highly visible location on Steubenville Pike, with 25,030 vehicles passing daily. The property benefits from easy access and excellent visibility, surrounded by other national retailers like Staples, Mattress Firm, Hobby Lobby, and Tile Shop. The current lease, with Mission BBQ Robinson PA, LLC, and guaranteed by Mission BBQ Management, LLC, has a remaining term of 8.6 years, commencing May 31, 2017, and expiring June 30, 2033. The lease includes 10% rent increases every five years, with renewal options. The landlord is responsible for roof/structure maintenance

• CAP approach

  CAP return

  Valuation

  6%

  $8,767,852

  6.5%

  $8,093,402

  7%

  $7,515,302

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,392,912

  Geo Method

  $7,392,912

• Alternative Use

  Use

  Valuation

  Residential

  $6,827,088

  Hospitality

  $6,253,576

  Educational

  $5,202,902

  Medical

  $5,381,837

  Retail

  $8,093,402

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.448

Longitude

-80.1591

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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