OFF MARKET Pittsburgh / Washington County / Mon Valley Government

[Richard Corley]

I currently have the option to acquire and lease a property in Charleroi, PA to a State Government agency for 10 years. I am posting this advertisement to see if any members were interested in being assigned this opportunity/investment. I am only looking to pass on the opportunity since I am not in close proximity to the borough and will be unable to actively manage the property. I have also become very busy on another project.

For the 1,300 sf of office space, rent has been agreed to at ~$26,500 for 10 years with two 5 year option terms. The building that I have under contract is for ~$70,000. Build out cost per the State’s specifications have not been fully confirmed but the rough estimate I have received from a local contractor is ~$60,000. There is also a second floor to this building which could be renovated and split into two apartments. My original financial analysis did not account for this value add opportunity.

Please feel free to contact me in you want/need more information!