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11025 Murray Rd - Pennsylvania State Police 11,810 SF Specialty Building Offered at $2,940,000 at a 6.91% Cap Rate in Meadville, PA 16335
INVESTMENT HIGHLIGHTS
- Offering provides long term leases and 5 year old construction.
- Station lease has options to extend with scheduled rent increases every 5 years.
- Approximately 1 ½ hours from Pittsburgh and 45 minutes to Erie.
- Attractive annual rent increases allot for a hedge against inflation.
- Conveniently situated in the Northwestern area, Meadville offers easy access to Interstate 79.
EXECUTIVE SUMMARY
The offering is a Pennsylvania State Police Station location in Meadville in Crawford County. The station was newly constructed in 2014 and is on a long term lease. There are attractive annual rent increases based on CPI providing for a hedge against inflation and substantial base rent increases in each option period. The Pennsylvania State Police operate over 88 stations within the state. The lease provides for an option to extend, as well as schedule rent increases. All brick construction with upscale interior finishes and state of the art Geo thermal HVAC system.
FINANCIAL SUMMARY (ACTUAL - 2019) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$233,832
|
$19.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$233,832
|
$19.80
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$30,788
|
$2.61
|
| Net Operating Income |
$203,044
|
$17.19
|
FINANCIAL SUMMARY (ACTUAL - 2019)
| Gross Rental Income | |
|---|---|
| Annual | $233,832 |
| Annual Per SF | $19.80 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $233,832 |
| Annual Per SF | $19.80 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $30,788 |
| Annual Per SF | $2.61 |
| Net Operating Income | |
|---|---|
| Annual | $203,044 |
| Annual Per SF | $17.19 |
PROPERTY FACTS
| Price | $2,940,000 | Lot Size | 5.11 AC |
| Price Per SF | $248.94 | Building Size | 11,810 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.91% | Year Built/Renovated | 1975/2014 |
| Property Type | Specialty | Parking Ratio | 5.25/1,000 SF |
| Building Class | C | ||
| Zoning | Commercial | ||
| Price | $2,940,000 |
| Price Per SF | $248.94 |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| Property Type | Specialty |
| Building Class | C |
| Lot Size | 5.11 AC |
| Building Size | 11,810 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1975/2014 |
| Parking Ratio | 5.25/1,000 SF |
| Zoning | Commercial |
ABOUT 11025 MURRAY RD , MEADVILLE, PA 16335
All brick construction with upscale interior finishes and state of the art Geo thermal HVAC system and was newly constructed in 2014.
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PROPERTY TAXES
| Parcel Number | 65-0-051536 | Improvements Assessment | $314,508 (2025) |
| Land Assessment | $3,050 (2025) | Total Assessment | $317,558 (2025) |
PROPERTY TAXES
Parcel Number
65-0-051536
Land Assessment
$3,050 (2025)
Improvements Assessment
$314,508 (2025)
Total Assessment
$317,558 (2025)
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11025 Murray Rd - Pennsylvania State Police
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