1606 N Center Ave - Storefront FOR SALE


Somerset, PA 15501
$3,564,000 USD
303-884-6659
1606 N Center Ave, Somerset, PA for Sale
$3,564,000 USD
Storefront - FOR SALE
1/10
null | 8.5% Cap Rate

1606 N Center Ave
Somerset, PA 15501


HIGHLIGHTS

  • 100% Leased | National Corporate Guaranteed Leases | Early Signed Extensions | Options To Extend | Grocery Shadow Anchors
  • Located Along State Highway 601 (13,700 VPD) | Excellent Visibility & Access | Large Pylon Sign
  • Dense Retail Corridor | Strong National/Credit Tenant Presence

OVERVIEW

• Harbor Freight Tools (1,300+ locations nationwide), and Dollar General (NYSE: DG) anchor the shopping center comprising 60% of GLA and 53% of rental revenue. • Harbor Freight Tools has over 5 years remaining in their initial term with an additional 5 (5-Year) options to extend. • Dollar General recently completed major remodel and signed an early 5-year extension to 2029, demonstrating their commitment to the site • Shoe Sensation just executed option to extend for another 5-year • Drayer Physical Therapy also extended their lease early • Giant Eagle(60,842 SF), and ALDI (32,833 SF) both own their stores, shadow anchor the shopping center, significantly increasing consumer traffic to the site. • Giant Eagle Closed two other stores and consolidated to this location.

FOR SALE DETAILS

PRICE

$3,564,000 USD

PRICE/SF

$40 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Somerset Plaza | 100% Occupied

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

115

LAND DETAILS

LAND ACRES

7.66 AC

LAND SF

333,670 SF

ZONING

C-1

APN/PARCEL ID

S42-007-225-005

ASK ABOUT THIS PROPERTY

Steven RobertsSRS Real Estate PartnersMore Info
303-884-6659

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Steven RobertsSRS Real Estate PartnersMore Info
303-884-6659

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.