643 E Washington St - Freestanding FOR SALE


New Castle, PA 16101
$773,100 USD
310-408-4364
643 E Washington St, New Castle, PA for Sale
$773,100 USD
Freestanding - FOR SALE
1/4
null | 7.48% Cap Rate

643 E Washington St
New Castle, PA 16101


HIGHLIGHTS

  • New Lease Extension - 10 Year Term - Expiration 12/31/2034
  • 7.25% Cap Rate at List Price
  • 26 Years of Tenancy - Proven Location
  • Corporate Lease with NYSE Company - AAP
  • Very Low Rent - Only $7.07/Foot Annual
  • Close to 50,000 residents within 5 miles.

OVERVIEW

Price Reduced! Marcus & Millichap is proud to present this Newly Extended Corporate Advance Auto Parts in a proven location. The tenant has already occupied this location for 26 years and recently extended their lease creating a firm 10 year term with new expiration date of 12/31/2034. The property was built in 1993 and features 8,173 Square feet on a large lot of over 31,000 square feet. The site is located at the corner of Spruce Street and East Washington Street. East Washington Street is also known as "Route 65" or alternatively as "65th Infantry Division Memorial Highway." This major thoroughfare starts in New Castle and runs over 50 miles to the heart of Pittsburgh. The city of New Castle is located in the very Western quadrant of Pennsylvania and is very close to the Border with Ohio. Youngstown Ohio is a mere 18 miles away. The population within a 5 mile radius of the subject exceeds 46,000 residents and projected to be stable in years to come.

FOR SALE DETAILS

PRICE

$773,100 USD

PRICE/SF

$96 USD /SF

CAP RATE

7.48%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts - New 10 Year Lease Term

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

31

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

C1

APN/PARCEL ID

04-029700

ASK ABOUT THIS PROPERTY

Joseph LinkogleMarcus & MillichapMore Info
310-408-4364

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

Joseph LinkogleMarcus & MillichapMore Info
310-408-4364

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