502 Main St, Ford City, PA 16226-1545
- Gas stations
- 5,056 SF
- 0.62 lot acres
Current Use by Public Records
- Ford city smoke and vape / (Bike/Boat/Book/etc) Store
- New House of Hunan / Restaurant
Property Details for 502 Main St
- Year built
- 1965
- Lot size
- 0.62 lot acres
- Property type
- Gas stations
- APN
- 29-0-021245
- APU
- 290021245
Description
This prime Ford City, PA retail center offers a compelling investment opportunity. The 4,800 square foot, Class A shopping center boasts a stabilized investment profile with a current NOI of $48,661 and a pro-forma NOI of $78,661, translating to an 8.25% cap rate and a pro-forma cap rate of 13.33%. Currently 70% occupied by a credit-rated Subway tenant under a triple-net lease with seven years remaining, the property presents significant upside potential. The single-story building, constructed in 1990, sits on a 0.4-acre lot with 15 parking spaces and is zoned for commercial use. Located at 502 Main St, the property benefits from high visibility on Business Route 66, featuring approximately 145 feet of frontage at a signalized intersection across from a Sheetz convenience store. The property is comprised of four units and offers potential for expansion with the option to purchase three adjacent houses for an additional $375,000. The asking price is $590,000, with a price per square foot of $122.92. All information is believed to be accurate but should be independently verified.
Value Estimations
-
Alternative Use
- Use
- Estimation
- SERVICE STATION (FULL SERVICE)
- $635,000 Current use
- RETAIL STORES
- $605,000 Change: -5% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Ford City
- County
- Armstrong
- State
- Pennsylvania
- Longitude
- -79.5273
- Latitude
- 40.7644
- CBSA code
- 38300
- CBSA name
- PITTSBURGH, PA METROPOLITAN STATISTICAL AREA
