1451 Old Broadhead Rd - Freestanding FOR SALE


Monaca, PA 15061
$4,845,000 USD
847-780-8063
1451 Old Broadhead Rd, Monaca, PA for Sale
$4,845,000 USD
Freestanding - FOR SALE
1/4
null | 9.25% Cap Rate

1451 Old Broadhead Rd
Monaca, PA 15061


HIGHLIGHTS

  • Absolute NNN Lease With Annual Rent Increases
  • Attractive 3 Percent Annual Rent Escalations Throughout the Base Term
  • One of the Largest Publicly Traded Cannabis Companies
  • A Top-Performing Ascend Cannabis Dispensary in Pennsylvania’s Medical-Only Market, Set for Growth With Adult-Use Legalization on the Horizon
  • Proximity to Several National Hotel Chains - Close Proximity to Interstate 376 with Excellent Visibility - 25 Miles Northwest of Pittsburgh, PA
  • Adjacent to Multiple National Retail Chains such as Arby’s, Burger King, Chick-Fil-A, Dollar Tree, Shell

OVERVIEW

Marcus & Millichap is pleased to offer for sale to qualified investors the opportunity to purchase a fee-simple interest in the Ascend Cannabis Dispensary asset located in Monaca, Pennsylvania (the “Property”). The Property is located 25 miles northwest of Pittsburgh and 16 miles from Pittsburgh International Airport and is part of the Pittsburgh metropolitan area. It consists of a 7,876-square-foot freestanding retail building on a 1.26-acre parcel of land. Ascend is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease has over 11 years of term remaining, and features attractive 3 percent annual rent escalations throughout the base term, providing investors with a boost to overall cash flows and a significant hedge against inflation. Broker of Record: Timothy Stephenson, Jr., Broker of Record, Marcus & Millichap Real Estate Investment Services, 2005 Market St., Ste. 1510, Philadelphia, PA 19103, P: (215) 531-7000, Lic #: RMR006104, Firm Lic #: RB062197C

FOR SALE DETAILS

PRICE

$4,845,000 USD

PRICE/SF

$615 USD /SF

CAP RATE

9.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ascend Cannabis Dispensary

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

95

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

C-2

APN/PARCEL ID

56-011-0712.000

ASK ABOUT THIS PROPERTY

Matt TarshisMarcus & MillichapMore Info
847-780-8063

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Matt TarshisMarcus & MillichapMore Info
847-780-8063

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