Listed by SRS Real Estate Partners McLean
$741,176
Erie, PA - PPG Paints
Details
Property Type Retail
Sub Type Storefront
Square Footage 12,000
Units 1
Cap Rate 8.50%
Occupancy 100%
Tenancy Single
Year Built 1983
Acreage 1.660
Parking Spaces spaces
Ownership Fee Simple (Land & Building)
SRS Real Estate Partners-Northeast, LLC is pleased to offer the opportunity to acquire the fee si...
Marketing description
SRS Real Estate Partners-Northeast, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN+ leased, PPG Paints investment property located in Erie, Pennsylvania. The tenant, PPG Paints, Inc recently exercised a 5 year option with 2 (5-year) options left to extend, demonstrating their commitment to the site. The lease features 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN+ with minimal landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Listing Contacts
Listed by SRS Real Estate Partners McLean
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