Investment Overview

Marcus & Millichap is pleased to present the American Freight, Furniture, Appliance & Mattress and Napa Auto parts building, a 50,000 square foot 2 tenant building located at 503-531 Rodi Road, Pittsburgh, PA. Located on 2.68 acres on highly trafficked Rodi Road just south of Interstate 376 and surrounded by a mix of national known tenants such as McDonald’s, U-Haul, Arby’s, Avis, etc… and a large residential component. The AF/Napa Building is occupied by 2 long term tenants – American Freight (2014) occupies 36,250 square feet and Napa Auto Parts ( 2009) occupies 17,750 square feet and both tenants are paying well below current market rents. American Freight recently exercised their first 5- year option early extending the lease thru December 31, 2029 showing a strong commitment to the location. American Freight is a discount retailer selling quality furniture, mattresses and home appliances at everyday low prices. American Freight had revenue of $883,000,000 for the year ending December 31, 2022 and is owned and operated by The Franchise Group- a 4-billion-dollar conglomerate whose operating companies include The Vitamin Shoppe, Pet Supplies Plus, Buddy’s Home Furnishings and Wag N Wash in addition to American Freight. The Franchisee Group was taken private in August 2023. Napa Auto Parts was established in 1925 and has 6,000+ stores in the United States. Both leases are corporately guaranteed. The American Freight Building/Napa Auto Parts building offers an investor the opportunity to acquire an asset with long-term national tenants on a triple net lease at below market rent and below replacement cost at a very attractive cap rate.