218 Rodi Rd Pittsburgh, PA 15235-3337
- Banks
- 0.34 lot acres
Jul 01, 2024
Current Use by Public Records
- Dollar Bank / Atm / Financial Institution
- Parallel Parking Testing Area / Car Racing Track
Property Details for 218 Rodi Rd
- Lot size
- 0.34 lot acres
- Property type
- Banks
- APN
- 449-P-40
- APU
- 449P40
Description
This exceptional investment opportunity presents a 3,200 square foot, single-tenant bank building located within the bustling Penn Hills Shopping Center in Pittsburgh, Pennsylvania. The property, built in 2008, boasts a 100% occupancy rate with Dollar Bank as the tenant, secured by a corporate guarantee under a triple-net (NNN) lease. The asking price is $900,000, representing a compelling $281.25 per square foot and a 6.05% cap rate based on a current Net Operating Income (NOI) of $54,432. The property sits on a 0.34-acre lot and features a single-story building. The strong tenant, Dollar Bank, reportedly holds over $174 million in deposits, indicating financial stability and a low risk profile. The location benefits from high traffic counts exceeding 17,000 vehicles daily and a desirable demographic with an average household income of $91,236 within a 3-mile radius. This is a rare opportunity to acquire a stable, high-performing net lease investment in a thriving retail center. The property's long-term historical occupancy since 2008 further underscores its value and potential for continued strong returns. This is an ideal addition to any diversified real estate portfolio.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pittsburgh
- County
- Allegheny
- State
- Pennsylvania
- Longitude
- -79.825
- Latitude
- 40.4631
- CBSA code
- 38300
- CBSA name
- PITTSBURGH, PA METROPOLITAN STATISTICAL AREA
