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29547937
29547936

2515 Banksville Rd, Pittsburgh, PA 15216 For Sale

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus
$8,429,647
166 days on market
Updated 52 days ago

Aldi 20 Yr Abs NNN | 10% Bumps | Corp Guaranty

Details
Property Type Retail
Sub Type Grocery Store
Square Footage 23,884
Units 1
Cap Rate 5.1%
NOI $429,912
Occupancy 100%
Brand/Tenant Aldi
Lease Term 20
Lease Expiration 10/04/2045
Remaining Term 19.2
Rent Bumps Yes
Lease Options (4) 5-Year
Price per SqFt $353
Year Built 2005
Year Renovated 2025
Buildings 1
Stories 1
Acreage 2.730
Investment Type Net Lease
Lease Commencement 10/05/2025
Ownership Fee Simple

Retail | 5.10% CAP | 23,884 SqFt

Investment highlights

• Single-Tenant, Absolute NNN ALDI Grocery Store With Zero Landlord Responsibilities

• Brand-New 2025 Renovation Of Former Staples | 23,884 SF Freestanding Grocery On 2.73-Acre Parcel

• 19.75 Years Of Remaining Lease Term With Four, 5-Year Renewal Options Extending Through 2065

• 10% Rent Increases Every 5 Years Throughout Initial Term And All Options

• Initial Cap Rate Of 4.85% With Cap Rate Expansion To 6.45% in Last 5 Years of Primary Term

• Full Corporate Guaranty By ALDI Inc., Backed By The Albrecht Family (Private Ownership)

• ALDI Operates Over 2,600 Stores Nationwide Across 40+ States With 45,000+ U.S. Employees

• Located On Banksville Road With 24,366 Vehicles Per Day Directly In Front Of The Property

• Less Than 1.5 Miles From I-376 With 90,303 Combined Vehicles Per Day At Split Exit Ramps

• Approximately 3 Miles From Downtown Pittsburgh In A Dense Infill Submarket

• Surrounded By Strong Daily-Needs And Discount Retail Including Dollar General, Dollar Tree Starbucks, McDonald’s, Kuhn’s Market And Walgreens

• Dense Trade Area With 18,905 Residents (1-Mile), 139,273 Residents (3-Mile), And 318,161 Residents (5-Mile)

• Affluent Demographics With Average Household Income Of $83,557 (1-Mile), $90,480 (3-Mile), And $88,495 (5-Mile)

• Highly Defensive Grocery Investment Benefiting From Discount-Oriented Consumer Trends

• Pittsburgh MSA – Home to a Population of 2.4 Million; Economy Centered in Financial Services, Healthcare & Tech

Listing Contacts

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$429,912.00
$35,826.00/mo

Valuation Metrics

0
DSCR
5.1%
Cap Rate
5.1%
ROI

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Additional Information

Name
Timothy Stephenson, Jr.
License
RB062197C
Brokerage
Marcus & Millichap
Brokerage Phone
(215) 531-7000
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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