Listed by Totum Realty Advisors
Unpriced
698 South Pike Road
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 4,428
NOI $60,000
Occupancy 100%
Tenancy Single
Brand/Tenant Valvoline
Lease Type Absolute NNN
Lease Term 10
Remaining Term 10
Rent Bumps Yes
Lease Options (3) 5-year renewals and (1) 4 year, 11 month renewal
Broker Co-Op Yes
Year Renovated 2023
Buildings 1
Stories 1
Acreage 0.910
Zoning B-1 Business District
Parking Spaces 30 spaces
Parking Per SqFt 6.78
Investment Type Institutional
Tenant Credit Corporate Guarantee
Lease Commencement 09/15/2023
Occupancy Date 09/15/2023
Valvoline NNN Investment: 10-year Term with Extensions
Marketing description
The subject property is situated at a signalized intersection along the predominant retail corridor, and is less than 1 mile from Route 28. Recent retail redevelopments along this strip include GetGo Cafe + Market, Sheetz, Burger King and Arby's stores. This area is seeing an influx of population in recent years due to more favorable tax rates than in areas closer to Pittsburgh, and is poised to continue that growth trajectory in the years to come.
Investment highlights
Strong Corporate Guarantee
Three 5-year extension options and one 4-year, 11-month option
10% rent escalations every 5 years
16,397 Vehicles Per Day
Listing Contacts
Listed by Totum Realty Advisors
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$60,000.00
$5,000.00/mo
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