623 Long Run Rd
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623 Long Run Rd
39,948 SF 80% Leased Retail Building Mckeesport, PA 15132 £875,072 (£22/SF) 9% Net Initial Yield
Investment Highlights
- 14.2% CAP RATE
- 40,000 sq ft building on 3.4 acres
- Seller Financing Available to a Well Qualified Buyer!
- 18,000 cars a day traffic count
Executive Summary
This cash cow property has a huge upside with rental income. This unique establishment offers multiple revenue rental streams with a dynamic experience where guests can indulge in a range of activities and pleasures all under one roof.This multifaceted venue is a destination where entertainment, dining, and leisure converge to create unforgettable moments for guests seeking any or all of these choices. The current 3 clubs and bars bring are leased out to indevidual operators for approx $30,000.00 a month in rental income The building is a 2 story 40,000 sq ft sitting on 3.4 acres, along with 125 parking spaces parking lot can handle any large event. Also a 3 bedroom 4,000 sq ft apartment sits above the space that is rented out for $3,000.00 a month. Don’t miss this opportunity own this huge income producing proprty. There is additional 1,500 sq ft space that can be rented out as well.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
39,948 SF
Building Class
C
Year Built/Renovated
1975/2022
Price
£875,072
Price Per SF
£22
Net Initial Yield
9%
NOI
£78,756
Percent Leased
80%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.30
Lot Size
3.10 AC
Zoning
Commercial - Mix Use - Commercial & Apartments
Parking
125 Spaces (3.13 Spaces per 1,000 SF Leased)
Frontage
406 ft on Long Run Rd
Amenities
- Bus Route
- Pylon Sign
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0554-E-00233-0000-00 | Total Assessment | £108,986 (2024) |
| Land Assessment | £68,335 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £40,651 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0554-E-00233-0000-00
Land Assessment
£68,335 (2024)
Improvements Assessment
£40,651 (2024)
Total Assessment
£108,986 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
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623 Long Run Rd
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