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223 Siebert Rd 13,795 SF Retail Building Pittsburgh, PA 15237 $5,585,000 ($404.86/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Stable turn-key investment with just over 4 years remaining on a NNN lease with two 5 year options to extend.
- Purpose built, well established business.
- NOI = $432,797.93
- Scheduled rental increases, a strong hedge against inflation.
- Prime location along major retail corridor in Ross Twp.
- 7.2% Cap Rate
EXECUTIVE SUMMARY
SVN Three Rivers Commercial Advisors is pleased to present for sale 223 Siebert Road in Pittsburgh. This property is leased to Northview Animal Hospital which is owned and operated by VCA, a national vet operator with over 1000 locations across the country. Northview Animal Hospital was founded in 1978 and is a long established and well respected full service veterinary hospital in the area. Located just off of McKnight Road, this site is in the heart of the busy retail corridor leading up to the nearby Ross Park Mall. This deal presents a great opportunity to acquire a triple net investment property with a well established history and backing of a national tenant.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Veterinarian/Kennel
Building Size
13,795 SF
Building Class
C
Year Built
1948
Price
$5,585,000
Price Per SF
$404.86
Cap Rate
7.75%
NOI
$432,798
Tenancy
Single
Building Height
2 Stories
Building FAR
0.07
Lot Size
4.23 AC
Zoning
C
Parking
20 Spaces (1.44 Spaces per 1,000 SF Leased)
Frontage
193’ on Siebert Road
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,942,100 | |
| Land Assessment | $584,400 | Total Assessment | $2,526,500 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$584,400
Improvements Assessment
$1,942,100
Total Assessment
$2,526,500
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223 Siebert Rd
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