Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2860 Perrysville Ave, Unit Observatory Pittsburgh, PA 15214

    Sponsored
    For Sale
    $299,900

    Other - Observatory Hill, PA

    Lot size:
    0.15 Acres
    Days on Market:
    62
    Last Refresh:
    Feb 11 at 11:06 pm

    Property Features for 2860 Perrysville Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    NC
    Parking
    12
    Lot size
    0.15 Acres

    Building Details

    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Mark Handlovitch

    RE/MAX REAL ESTATE SOLUTIONS (412) 366-2900

    Listing agent Mark Handlovitch (412) 366-2900

    Listing date Dec 12, 2025

    MLS# 1720252 Listing URL

    Copyright © 2026 West Penn Multi List, Inc. 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

    Updated Commercial Property with Apartment

    This commercial property, currently operating as a funeral home, presents a flexible investment opportunity. The building has been updated and includes a remodeled 2-bedroom apartment on the second floor. The property's size and layout allow for potential conversion into a triplex or adaptation for various uses. It features off-street parking and is located minutes from Downtown Pittsburgh, I-279, Rt 28, and I-376. The sale includes the building only. The property is located in Observatory Hill, PA. The lot size is 0.1507 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rex T. Smith ... Cremation Service Smith Rex T Social Service Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.011241
    Latitude
    40.475292

    Nearby Similar for Sale

    • New
      $385,000
      8,426 SF

      Versatile Mixed-Use Building in Hazelwood

      8,426 sq ft property with multiple units in Pittsburgh.
      5106-5108 2Nd Ave, Pittsburgh, PA 15207
      View Details
    • $424,900
      0.43 Acres

      Historic Church with Redevelopment Potential

      Unique 55,000 sq ft church suitable for various uses.
      710 Mulberry St, Pittsburgh, PA 15221
      View Details
    • New
      $800,000
      0.31 Acres

      Established Restaurant and Bar Opportunity

      Profitable restaurant and bar with real estate and equipment included.
      114 Grant Ave, Millvale, PA 15209
      View Details
    • $1,000,000
      0.17 Acres

      Updated Office Building in Lawrenceville

      Commercial property in the heart of Lawrenceville, move-in ready.
      258 42Nd St, Pittsburgh, PA 15201
      View Details
    • $312,500
      0.13 Acres

      Crafton Fourplex with Income Potential

      Solid brick fourplex in Crafton with spacious units and updates.
      42 Baldwick Rd, Pittsburgh, PA 15205
      View Details
    • $450,000
      0.03 Acres

      Mt. Washington Four-Unit Property

      Well-maintained four-unit property in Mt. Washington neighborhood.
      201 Amabell St, Mt Washington, PA 15211
      View Details
    • New
      $549,900
      3,600 SF

      Unique Mixed-Use Property, Pittsburgh Northside

      Mixed-use property with income potential near Downtown Pittsburgh.
      4072 Franklin Rd, Pittsburgh, PA 15214
      View Details
    • $350,000
      0.18 Acres

      Renovated Office Building in South Park

      3,491 SF office building with two units, renovated in 2025.
      1102 Wilhelm Ave, Pittsburgh, PA 15236
      View Details
    • $3,000,000
      0.12 Acres

      Downtown Pittsburgh Office Building

      Updated office building in Pittsburgh Opportunity Zone with parking.
      1940 5Th Ave, Pgh, PA 15219
      View Details
    • $835,000
      Pending

      Renovated Mixed-Use Property in Polish Hill

      Turn-key investment opportunity in Pittsburgh's Polish Hill neighborhood.
      3105 Brereton St, Pittsburgh, PA 15219
      View Details
    • $239,900
      0.08 Acres

      Versatile Property in Brookline Commercial District

      Mixed-use property with storefront, 3-bedroom house, and detached garage.
      931 Brookline Blvd, Brookline, PA 15226
      View Details
    • $600,000
      15,000 SF

      Mixed-Use Building in North Oakland

      Multi-use building near hospitals, businesses, and universities.
      420 N Craig St, Pittsburgh, PA 15213
      View Details

    FAQs

    What type of property is this?
    Storefront property - Versatile commercial building with updated apartment near Downtown Pittsburgh.
    Where is this storefront property located?
    The property is located at 2860 Perrysville Ave, Unit Observatory Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Prime location minutes from Downtown Pittsburgh, I-279, Rt 28, and I-376.; - Large, newly remodeled 2-bedroom apartment on the second floor.; - Strong investment potential with flexibility for conversion into a triplex or other uses.
    (412) 366-2900
    Request Owner's contact information
    2860 Perrysville Ave, Unit Observatory Pittsburgh, PA 15214
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2860 Perrysville Ave, Unit Observatory
    Pittsburgh, PA 15214
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2860 Perrysville Ave, Unit Observatory Pittsburgh, PA 15214
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mark Handlovitch
    Real Estate License ID: AB068556
    (412) 366-2900
    Learn more
    Google sign-in failed. Please try again or use another login method.