601 W Pike St Canonsburg, PA 15317
- Retail space
- 13,680 SF
- 1.89 lot acres
Current Use by Public Records
- Rite Aid Pharmacy / Pharmacy
- Rite Aid / Drug Store / Beauty Supply Store
- Coinhub Bitcoin ATM Teller / Atm
- CDReload - Online Bitcoin ATM / Atm / Crypto Atm
- Western Union / Money Transfer Service
Property Details for 601 W Pike St
- Year built
- 1965
- Lot size
- 1.89 lot acres
- Property size
- 13,680 SF
- Property type
- Retail space
- APN
- 100-023-00-00-0001-04
- APU
- 1000230000000104
Description
This exceptional investment opportunity presents a 13,680-square-foot retail property currently leased to Rite Aid. Located at 601 W Pike St in Canonsburg, Pennsylvania (Washington County, zip code 15317), this property sits on a 1.89-acre lot and boasts a prime location on a signalized intersection. The building, constructed in 2004, generates a substantial net operating income (NOI) of $287,370, resulting in an attractive 8.21% capitalization rate. The current lease, a triple-net (NNN) agreement, commenced on June 14, 2005, and expires December 30, 2028, with two five-year renewal options. The property's assessed parcel number (APN) is 100-023-00-00-0001-04. This presents a compelling opportunity for passive income generation with significant remaining lease term and a strong tenant history. The asking price for this well-positioned retail asset is $3,500,000. This property offers a rare combination of stability, high yield, and significant upside potential. The property's location and the strength of the tenant make this an ideal addition to any investment portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Canonsburg
- County
- Washington
- State
- Pennsylvania
- Longitude
- -80.2038
- Latitude
- 40.2569
- CBSA code
- 38300
- CBSA name
- PITTSBURGH, PA METROPOLITAN STATISTICAL AREA
