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All Forum Posts by: Meghan Dreher

Meghan Dreher has started 5 posts and replied 12 times.

Pittsburgh Real Estate Forum

Post: Pittsburgh Meetup Group - Newcomers Welcome!

Meghan DreherPosted
  • Rental Property Investor
  • Posts 12
  • Votes 5

Hi Matt, I would be interested in trying to attend some of these meetings as well, thanks for organizing!

0 Votes
Pittsburgh, Pennsylvania
Commercial Real Estate Investing

Post: Newbie - Looking at commercial building

Meghan DreherPosted
  • Rental Property Investor
  • Posts 12
  • Votes 5

Looking at a Rite Aid in a low income area. Asking price $1,904,762

Cap Rate 7.35%

Annual rent $140,000

Triple net lease

5 year lease options, current lease ends 8/31/24

Rent started in 1995.. so lengthy background, but the current state of Rite Aid drug stores scares me for longevity of the lease, and as mentioned being in a low income area, it would be difficult to fill the building if Rite Aid went under. Doesn’t say exactly but seems like the listing has been on the market for a few years.

My question.. I think $1.9 million is too much to ask for this given the location and current state of the building. Can anyone give insight on what they think would be a good deal or fair price?

1 Vote