734 Washington St New Castle, PA 16101-4144

Property Details for 734 Washington St

Lot size

1.17 lot acres

Property size

9,950 SF

Zone code

R-2

Property type

Retail space

APN

04-128500

APU

4128500

Description

This exceptional investment opportunity presents a 10,125 square foot, single-tenant CVS Pharmacy in New Castle, Pennsylvania. The property, built in 1999 and situated on a 1.17-acre lot at 734 E Washington St, 16101, boasts a prominent location with high visibility. Currently under a net lease (NN) with approximately 3.2 years remaining until January 31, 2028, the lease includes four 5-year renewal options, ensuring long-term stability. The asking price is $3,200,000, representing a compelling $316.05 per square foot and a 7.89% cap rate based on a Net Operating Income (NOI) of $252,456. The tenant, CVS Pharmacy, is a highly reputable, investment-grade corporation (S&P rating "BBB"), providing significant financial strength and security. This freestanding building features a drive-thru for added convenience. The property's strategic location within New Castle's bustling commercial area, coupled with easy access to major transportation routes and nearby population centers like Pittsburgh, ensures strong ongoing performance. This is a rare opportunity to acquire a well-positioned, income-producing asset with a blue-chip tenant and substantial remaining lease term. The property offers a secure investment with significant potential for future growth and appreciation.

Location Insight

City

New Castle

County

Lawrence

State

Pennsylvania

Longitude

-80.3345

Latitude

40.9939

CBSA code

35260

CBSA name

NEW CASTLE, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments