This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Mission BBQ 6541 Steubenville Pike
6,114 SF Retail Building Pittsburgh, PA 15205 $3,423,800 ($560/SF) 6.50% Cap Rate
Investment Highlights
- Corporately Guaranteed Lease | Recent Lease Extension
- 10% Rent Increases
- NFL City | 2.3 Million Person MSA
- 130+ Locations
- Huge Catering Business | Extremely High Unit Level Sales
- 25,585 People within 3 Miles | Affluent Area with $116,061 Avg HH Income (1 mile)
Executive Summary
The Lease is with Mission BBQ Robinson PA, LLC and guaranteed by Mission BBQ Management, LLC which is a corporate guaranty backed by 130+ locations. Tenant has been at this location since 2018 (6 years) and has recently extended its lease early with over 8.5 years of primary term now remaining. Rent increases 10.00% every five years and during each of the 5-year renewal options. Landlord is responsible for roof/structure and Tenant reimburses for all non-capital expenses. The shopping center manager takes care of all CAM. They bill the Landlord who then bills the Tenant. Tenant reports extremely strong sales at this location and expanded its space to accommodate for its highly successful catering business. Ask broker for more details.
PROPERTY
The property consists of 6,114 SF in total on 0.720 acres and sits as an outlot to a Kohl's anchored shopping center. There is an additional outdoor patio area. Mission BBQ originally occupied 4,000 SF but due to strong demand, they decided to lease the additional 2,114 SF as well and now occupy 100% of the building. The property itself offers easy signalized access and has excellent visibility on Steubenville Pike / Lincoln Highway with 25,030 vehicles passing by daily. Other retailers in the shopping center include Staples, Mattress Firm, Hobby Lobby, and Tile Shop. The property is in the center of the local trade area and is surrounded by big box national retailers in all directions. It is also conveniently located right off the I-376 interchange.
TRADE AREA
The subject property is on the northwest side of Pittsburgh, PA. The MSA has over 2.3 million people and is the 20th largest MSA in the country. Pittsburgh is home to three professional sports teams including the Pittsburgh Steelers (NFL), Pirates (MLB), and Penguins (NHL). Google, Apple, Bosch, Disney, Uber, Intel, and IBM are among the 1,600 tech firms that generate over $20 billion in annual Pittsburgh payrolls. The area is home to 68 colleges and universities including Carnegie Mellon University (14,000 students) and the University of Pittsburgh (20,000 students). There are eight Fortune 500 Companies, the nation's fifth-largest bank, and six of the top 300 US law firms that call Pittsburgh home.
Property Facts Under Contract
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
-
- Accommodation and Food Services
- -
-
$9.99
-
Jan 0000
MISSION BBQ opened its doors for business on September 11, 2011. Ten years after the world changed forever, in some small way they wanted to change it back. As the founders of MISSION BBQ, they strive every day to remind everyone what makes their country great—its heroes. Who are they? Two friends passionate about BBQ, patriotic for their Country, and who believe in running a business with meaning and purpose. They believe there is nothing more American than BBQ. And nobody more American than the brave men and women who have sworn to protect and serve their communities and their country. They set across this great land from Texas to Kansas City, the Carolinas to St. Louis…to discover the secrets of great BBQ. Every day they strive to serve customers authentic BBQ made from the freshest, most delectable ingredients, and serve it to them in a patriotic dining room filled with tributes to those who’ve made their country great, given to them by the people who earned them.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
|
|
Accommodation and Food Services | - | $9.99 | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0335-F-00030-0000-00 | Improvements Assessment | $1,377,800 |
| Land Assessment | $374,400 | Total Assessment | $1,752,200 |
PROPERTY TAXES
Presented by
Mission BBQ | 6541 Steubenville Pike
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.