10-Unit Apartment
For Sale
$875,000
235 / 224 St. Joseph St. / St. Mary St., Loretto, PA 15940
Commercial Sale, Loretto, PA
Property Size10,302 SF
Lot Size0.36 Acres
Price / SF$84.93
Days on Market45
Property Features for 235 / 224 St. Joseph St. / St. Mary St.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Elementary school district
Penn Cambria
Middle school district
Penn Cambria
High school district
Penn Cambria
Directions
Take US-22 E to Loretto/Ebensburg Exit, turn right onto Manor Drive, turn right onto St. Mary Street. St. Jospeh Street us below one street of St. Mary Street - look for signs
Subdivision
Loretto Boro-38
Standard status
Active
APN
38-004-204.000
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
2241/76
Tax Annual Amount
11289
Legal Description
2241/76
Amenities
laundry area
Building Details
Floors in Building
2
Listing Agency:
RE/MAX POWER Associates · RE/MAX International
(814) 254-4743
Listed By:
James Hanley · License #AB068327
(814) 241-6881
Added: Jul 22
Changed: Sep 2
Last Checked: Sep 4 at 12:06AM
MLS# 96042142
Copyright © 2026 Cambria Somerset 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.
Investment Insights
Based on property information with market context.
This offering combines two apartment buildings with 10 residential units at 235 St. Joseph Street and 224 St. Mary Street in Loretto. The St. Joseph building contains one three-bedroom unit and four two-bedroom units, each with 1.5 baths, along with kitchens and large living rooms. The St. Mary building includes five units configured with two bedrooms, 1.5 baths, kitchens, and living rooms. Total building area is approximately 10,302 square feet, including approximately 5,712 square feet at St. Joseph and approximately 4,590 square feet at St. Mary.
Construction includes brick, block, and vinyl exterior components with shingle roofs. Both properties have electric baseboard heat, public water, public sewer, and 200-amp electrical service with breakers. Blacktop parking accommodates approximately seven to nine vehicles per building. The St. Joseph property also has a separate utility room and an area used as an office or paid-to-use laundry space. Appliances and certain furnishings are included subject to the agreement, while tenant-owned personal property is excluded. The buildings are located on the Saint Francis University campus and are zoned Commercial.
Construction includes brick, block, and vinyl exterior components with shingle roofs. Both properties have electric baseboard heat, public water, public sewer, and 200-amp electrical service with breakers. Blacktop parking accommodates approximately seven to nine vehicles per building. The St. Joseph property also has a separate utility room and an area used as an office or paid-to-use laundry space. Appliances and certain furnishings are included subject to the agreement, while tenant-owned personal property is excluded. The buildings are located on the Saint Francis University campus and are zoned Commercial.
Key Highlights
- 10 residential units across two apartment buildings
- Approximately 10,302 square feet combined: 5,712 square feet at St. Joseph and 4,590 square feet at St. Mary
- St. Joseph mix includes one three‑bedroom unit and four two‑bedroom units, each with 1.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,234
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,264,680
$1.3M
Cap Rate 7%
$903,343
$903.3K
Cap Rate 9%
$702,600
$702.6K
Market Conditions
NOI Build-Up for 10,302 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$123.6K $12.00/SF
− Vacancy
−$8.7K −$0.84/SF
EGI
$115.0K $11.16/SF
− OpEx
−$51.7K −$5.02/SF
NOI
$63.2K $6.14/SF
Area
Cambria County, PA
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,264,680
Cap Rate 7%
$903,343
Cap Rate 9%
$702,600
Alternative Uses
Best Use
Apartment 5plus
$903.3K
$790.4K – $1.05M
NOI $63,234 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,578 @ 7.0% cap · market cap 24.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 15940, PA
3,712
Population
773
Households
4.8
Avg Household Size
33
Median Age
19%
College-Educated
90%
High-School Grad
24.4 sq mi
ZIP Area
152
Density / Sq Mi
$86,250
Median Household Income
$9,489
Median Earnings
$720
Median Rent
$236,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two apartment buildings support student, workforce, and traditional residential housing uses.
Where is this apartment building located?
The property is located at 235 / 224 St. Joseph St. / St. Mary St. Loretto, PA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 10 residential units across two apartment buildings; Approximately 10,302 square feet combined: 5,712 square feet at St. Joseph and 4,590 square feet at St. Mary; St. Joseph mix includes one three‑bedroom unit and four two‑bedroom units, each with 1.5 baths
