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    The Largest CRE Database in the US with Over 1 Million Listings

    224 E Pitt St Bedford, PA 15522

    Sponsored
    For Sale
    $599,000

    COMMERCIAL - Bedford, PA

    Property size:
    10,000 SF
    Lot size:
    0.34 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 25 at 8:06 pm

    Property Features for 224 E Pitt St

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Basement
    APN
    E9-E4-141 / E9-E4-207
    Parking features
    Off Street
    Exterior features
    Lighting, Private Entrance
    Basement
    Sump Pump, Finished, Walk-Out Access
    Accessibility
    Accessible Approach with Ramp
    Size
    10,000 SF
    Lot size
    0.34 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Forced Air, Radiant, Natural Gas, Heat Pump (Heating)
    Cooling system
    Wall Unit(s), Window Unit(s), Heat Pump
    Water source
    Public

    Building Details

    Year built
    1860
    Floors in Building
    3
    Building materials
    Stone, Frame, Vinyl Siding, Brick, Insulbrick
    Roof type
    Metal, Shingle

    We can help!

    Listing Contact
    Colleen Fix

    Howard Hanna Bardell Realty (814) 623-8622

    Listing agent Colleen Fix (814) 977-2075 License #RS213763L

    Listing date Jan 25, 2026

    MLS# 77531

    Copyright © 2026 Allegheny Highland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historical Bedford Commercial Building For Sale

    Located in historical Bedford, this commercial property features a restaurant, tavern, and apartments within an impressive 1860 brick building. The first-floor restaurant, with seating for over 95, includes two dining rooms that are handicap accessible. Custom oak woodwork is featured throughout, including window framing, fireplaces, door vestibules, and paneled walls. The lower level houses a tavern with a 25-seat bar, table seating for 70, and a separate game room with a pool table. Updates include updated wiring and plumbing, added insulation, and external ganged electrical panels. The kitchen has been expanded to five times its original size. All equipment and furnishings for both the restaurant and bar are included with the property. The second and third floors contain apartments, including one large apartment suitable for owner's quarters. The property includes 25 off-street parking spaces. The property is located 2.5 hours from multiple major cities. The 0.34-acre lot is zoned commercial and the building size is approximately 10,000 square feet. The property is located in Bedford, PA. The building could be reconfigured into first-floor retail space. The second and third floor apartments provide extra income. Bedford's attractions, including its rich history, original architecture, state parks, hiking trails, fishing, Omni Bedford Springs Resort, and the Fall Foliage Festival, contribute to customer flow, making this property suitable for investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bedford Tavern Seafood Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bedford
    County
    Bedford
    State
    Pennsylvania
    Longitude
    -78.500717
    Latitude
    40.018986

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    FAQs

    What type of property is this?
    Restaurant - Restaurant, tavern, and apartments in an impressive 1860 brick building.
    Where is this restaurant located?
    The property is located at 224 E Pitt St Bedford, PA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Established restaurant and tavern business opportunity in a historical 1860 brick building.; - Includes FULLY EQUIPPED restaurant (95+ seating) and tavern (25 seat bar, 70 table seating) with all furnishings conveying.; - Additional income potential from second and third floor apartments, including a large owner's quarters.
    (814) 977-2075
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    224 E Pitt St Bedford, PA 15522
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    Bedford, PA 15522
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    224 E Pitt St Bedford, PA 15522
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    We can help!
    Listing Contact
    Colleen Fix
    Real Estate License ID: RS213763L
    (814) 977-2075
    Learn more
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