3824 Northern Pike - Medical FOR SALE


Monroeville, PA 15146
$16,700,000 USD
717-514-6390
3824 Northern Pike, Monroeville, PA for Sale
$16,700,000 USD
Medical - FOR SALE
1/29
null | 7.78% Cap Rate

3824 Northern Pike
Monroeville, PA 15146


HIGHLIGHTS

  • AHN’s lease is secured by a corporate guarantee from Highmark Health (63% of tenancy)
  • Recent $1.3 million in capital improvements - New Roof, HVAC, & Parking Lot
  • AHN’s Premier Medical Associates operates multiple specialties within the premises, including a state-of-the-art imaging center

OVERVIEW

Zeustra Healthcare Real Estate Advisors is pleased to present the exclusive opportunity to acquire One Monroeville Center, a ±101,516-square-foot, multi-tenant medical office building strategically located at 3824 Northern Pike in Monroeville, PA. Situated within the Pittsburgh MSA, One Monroeville Center benefits from a prime location within a robust retail corridor, surrounded by some of the region’s leading medical facilities, including UPMC East Hospital and AHN Forbes Hospital. Anchored by Allegheny Health Network’s (AHN) Premier Medical Associates, One Monroeville Center is a proven, institutional-grade asset offering stable, long-term income. AHN occupies approximately 63% of the building and operates multiple specialty practices, including a state-of-the-art imaging center. AHN’s long-term lease is secured by a corporate guarantee from its parent company, Highmark Health, a national healthcare leader with over $29 billion in revenue in 2024. Highmark’s commitment to the location is evidenced by significant ongoing investment, including millions of dollars into their dedicated space. Currently 95% occupied with a historically low vacancy rate, the building is owned and managed by the original developer, who has maintained it to the highest standards. Recent ownership-driven capital improvements total over $1.3 million, including a complete replacement of HVAC and rooftop units, a new roof, and freshly sealed and striped parking areas. These enhancements ensure long-term operational efficiency and mitigate capital expenditure risks for new ownership. The property’s leases are structured on landlord-friendly terms, with future operating expense risk passed through to tenants, ensuring stability and predictable income. The strong credit profile of AHN, backed by Highmark Health, combined with strategic positioning within a premier healthcare and retail hub, makes One Monroeville Center an exceptional investment opportunity. This offering represents a rare chance to acquire a stabilized, income-generating healthcare property with robust tenant credit, minimal management requirements, and substantial recent capital improvements. Investors seeking durable, inflation-protected cash flow within a strong healthcare market will find One Monroeville Center uniquely positioned for long-term success.

FOR SALE DETAILS

PRICE

$16,700,000 USD

PRICE/SF

$130 USD /SF

CAP RATE

7.78%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

One Monroeville Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

10

BUILDING CLASS

B

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

300

LAND DETAILS

LAND ACRES

5.94 AC

LAND SF

258,746 SF

ZONING

-

APN/PARCEL ID

0743-J-00246-0000-00

ASK ABOUT THIS PROPERTY

Nick MyersZeustra Real Estate Investment ServicesMore Info
717-514-6390

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Nick MyersZeustra Real Estate Investment ServicesMore Info
717-514-6390

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