1763-1773 Pine Hollow Rd - Medical FOR SALE


McKees Rocks, PA 15136
$2,800,000 USD
412-715-8901
1763-1773 Pine Hollow Rd, McKees Rocks, PA for Sale
$2,800,000 USD
Medical - FOR SALE
1/6
null | 9.31% Cap Rate

1763-1773 Pine Hollow Rd
McKees Rocks, PA 15136


OVERVIEW

Jones Lang LaSalle (JLL) is pleased to present the exclusive opportunity to acquire Kennedy Square, a strategically positioned retail center located at 1773 Pine Hollow Road, McKees Rocks, PA 15136. This 22,571 square foot multi-tenant retail property presents an exceptional value-add investment opportunity anchored by the stability of a long-term investment-grade tenant and significant upside potential through strategic lease restructuring. Kennedy Square demonstrates exceptional tenant stability anchored by LabCorp, an investment-grade corporation that has maintained uninterrupted operations at the center since 2004. LabCorp recently executed an early lease renewal, extending their commitment through December 31, 2032. As the property's primary tenant, LabCorp constitutes 56.2% of the income stream, establishing a foundation that substantially mitigates investor risk while guaranteeing predictable cash flow performance. The anchor tenant's impressive 22-year operational tenure at this location exemplifies unwavering dedication to the site and reinforces confidence in the market's enduring growth potential. The property presents an immediate value-add opportunity with substantial upside potential. Currently, all non-anchor tenants operate under month-to-month lease arrangements, creating the opportunity to convert these tenancies to triple net lease structures. This conversion strategy would transfer property operating expenses to tenants, improving net operating income and overall property performance. The month-to-month lease structure also provides flexibility to optimize the tenant mix and rental rates to current market levels. The center has an e-commerce resistant rent roll dominated by service-oriented and necessity-based tenants that require physical locations to serve customers effectively

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$128 USD /SF

CAP RATE

9.31%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LabCorp Square

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,093 SF

ZONING

RETAIL / OFFICE

APN/PARCEL ID

0155-M-00121-0000-00

ASK ABOUT THIS PROPERTY

412-715-8901

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412-715-8901

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