601 Pike St, Canonsburg, PA 15317-1064
- Retail space
- 13,680 SF
- 1.89 lot acres
Current Use by Public Records
- Rite Aid Pharmacy / Pharmacy
- Rite Aid / Pharmacy
- Coinhub Bitcoin ATM Teller / Atm
- CDReload - Online Bitcoin ATM / Atm / Crypto Atm
- Western Union / Bank / Credit Union
Property Details for 601 Pike St
- Year built
- 1965
- Lot size
- 1.89 lot acres
- Property type
- Retail space
- APN
- 100-023-00-00-0001-04
- APU
- 1000230000000104
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 27, 2014 | $4,900,000 | Lipnob Media LLC | Spirer,joseph M | Grant Deed | — |
| Oct 19, 2007 | $5,213,000 | Colony Park Co | Cozza Ents | Grant Deed | — |
| Sep 24, 2004 | $1,250,000 | Alex Carrick | Imperatore Enter INC | Grant Deed | — |
| — | — | Lipnob Media LLC | — | Deed Of Trust · related | $3.2M · Bank Of America |
| — | — | Colony Park Co | — | Deed Of Trust · related | — |
| — | — | Carrick Alex | — | Deed Of Trust · related | — |
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 Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,300,000
- 6.5%
- $2,120,000
- 7%
- $1,970,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,462,000
Market price range: $451k - $2.46M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,375,000 Current use
- COMMERCIAL (GENERAL)
- $2,020,000 Change: +47% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,910,000 Change: +39% Conversion: Difficult
- RESTAURANT
- $1,820,000 Change: +32% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
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
