1111 lowry ave€¦ · john westermann advisor 724.918.4484 [email protected]. 1111 lowry ave...

SVN | Three Rivers Commercial Advisors | 309 Smithfield Street, 5th Floor, Pittsburgh, PA 15222 OFFERING MEMORANDUM

1111 LOWRY AVE1111 LOWRY AVE.JEANNETTE, PA 15644

John [email protected]

1111 LOWRY AVE | 1111 LOWRY AVE. JEANNETTE, PA 15644 SVN | Three Rivers Commercial Advisors |

OFFERING SUMMARY

Sale Price: $750,000

Cap Rate: 12.3%

NOI: $92,246

Lot Size: 4.5 Acres

Building Size: 32,189

Price / SF: $23.30

SVN I TRCA is pleased to present for sale this 4.5 acre office park in Jeannette, PA. 1111 Lowry Ave. is perfect for an investorlooking for a small value-add office park or developers looking for a prime site ready for redevelopment. There are four (4)buildings currently being used as office, medical office, and storage space. A new Dollar Tree opened September 1, 2017across the street, and the townships have commitments for a new Get-Go and retail plaza less than .25 miles away onRoute 30. This area has been experiencing unseen growth for the first time in years - here is your chance to capitalize onthe recent economic growth.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• large floor plans

• medical office space immediately available

• strong retail development in the area

• $23/SF

• 12.3 % Cap Rate

Property Summary


Additional Photos

1111 LOWRY AVE | 1111 LOWRY AVE., JEANNETTE, PA 15644 SVN | Three Rivers Commercial Advisors |

Location Maps


1111 Lowry Ave

Aerial Map


Retailer Map


INVESTMENT OVERVIEW 2016 ACTUAL

Price $750,000Price per SF $23.30CAP Rate 9.4%Cash-on-Cash Return (yr 1) 14.61 %Total Return (yr 1) $45,149Debt Coverage Ratio 1.64

OPERATING DATA 2016 ACTUAL

Gross Scheduled Income $216,300Other Income -Total Scheduled Income $216,300Vacancy Cost $0Gross Income $216,300Operating Expenses $146,201Net Operating Income $70,099Pre-Tax Cash Flow $27,395

FINANCING DATA 2016 ACTUAL

Down Payment $187,500Loan Amount $562,500Debt Service $42,704Debt Service Monthly $3,558Principal Reduction (yr 1) $17,754

Financial Summary


INCOME SUMMARY 2016 ACTUAL PER SF

Gross Income $216,300 $6.72

EXPENSE SUMMARY 2016 ACTUAL PER SF

Management Fee (6%) $12,978 $0.40Insurance $9,655 $0.30Legal & Professional Fees $1,417 $0.04Taxes $22,983 $0.71Utilities $38,240 $1.19Maintenance & Supplies $60,928 $1.89

Gross Expenses $146,201 $4.54

Net Operating Income $70,099 $2.18

Income & Expenses


POPULATION 1 MILE 5 MILES 10 MILES

Total population 5,452 72,516 208,029

Median age 44.5 42.4 43.5

Median age (male) 44.6 41.6 42.3

Median age (Female) 45.3 44.0 45.1

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 2,526 29,254 85,765

# of persons per HH 2.2 2.5 2.4

Average HH income $48,675 $61,680 $66,744

Average house value $106,801 $145,292 $177,382

* Demographic data derived from 2010 US Census

Demographics Map

309 Smithfield Street, 5th FloorPittsburgh, PA 15222T 724.918.4484C [email protected]

PROFESSIONAL BACKGROUND

John Westermann serves as an Advisor for SVN | Three Rivers Commercial Advisors, specializing in office properties. As acommercial real estate professional, he has developed an extensive network of owners and investors of commercialproperty in the Pittsburgh and southwestern Pennsylvania markets. With his clients, John strives to create workingrelationships built on competence and trust.

John’s professional background includes commercial banking and management consulting. This experience gives himthe ability to understand his clients’ commercial property goals and requirements, and to quickly identify solutions tomeet those needs.

John is a long-time resident of the Pittsburgh area. He and his wife make their home in Penn Hills. John is a licensed realestate agent in Pennsylvania.

JOHN WESTERMANN

Advisor


Advisor Bio & Contact

1111 lowry ave€¦ · john westermann advisor 724.918.4484 [email protected]. 1111 lowry ave...

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