Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5532-5540 Covode Street Pittsburgh, PA 15217

    Sponsored
    For Sale
    $3,795,000

    Prime Squirrel Hill multifamily investment.

    Property size:
    26,064 SF

    Property Features for 5532-5540 Covode Street

    General Information

    Property type
    Opportunity zone commercial real estate
    Square Feet
    26,064 SF
    Price / Square Foot
    $145
    Total Parking Spaces
    12
    Elevators
    N/A
    Lot Size
    17,135 SF

    Building Details

    Units
    33

    Overview

    Squirrel Hill 33-Unit Apartment Building

    Concord Plaza is a 33-unit apartment building located in Pittsburgh's Squirrel Hill neighborhood. The property features 26,064 square feet of building space, with 21 one-bedroom units and 12 studio apartments. On-site laundry facilities are available for residents. The property includes a parking lot with approximately 12 parking spaces for tenants. Constructed of solid brick, the building offers a durable structure. The property is situated on a 0.39-acre lot. This multifamily complex has been under long-term ownership for over 20 years. The location in Squirrel Hill provides access to local amenities, transportation, and a thriving community.

    We can help!

    Listing Contact
    Keane George

    Learn more

    HighLights

    • Prime 33‑unit apartment building in Pittsburgh's desirable Squirrel Hill neighborhood.
    • Solid brick construction offering durable, long‑term value.
    • Convenient on‑site parking for approximately 12 vehicles.
    Property Profile Location Intelligence

    Current Use by Public Records

    Opportunity zone commercial ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    City
    Pittsburgh
    State
    Pennsylvania

    Nearby Similar for Sale

    • $399,900
      2,136 SF

      Turnkey Restaurant Opportunity on Carson

      Three-story building with bar and commercial kitchen on Carson.
      1811 E Carson St, Pittsburgh, PA 15203
      View Details
    • New
      $595,000
      6,800 SF

      South Side Retail Opportunity

      6,800 SF retail property in Pittsburgh's South Side.
      1825 E Carson St, Pittsburgh, PA 15203
      View Details
    • New
      $329,900
      850 SF

      Mt. Lebanon Office/Warehouse/Retail Space

      Commercial space with office, warehouse, and retail potential in Mt. Lebanon.
      450 Castle Shannon Blvd, Mt Lebanon, PA 15234
      View Details
    • $850,000
      1,721 SF

      HAVERTOWN Office Building with Income

      Well-maintained office building in prime location with income potential.
      614 Darby Rd, Havertown, PA 19083
      View Details
    • $539,900
      1,344 SF

      Ingomar Auto Service Garage For Sale

      Auto service garage with gas and diesel pumps in McCandless.
      739 W Ingomar Rd, Pittsburgh, PA 15237
      View Details
    • New
      $399,000
      0.22 Acres

      Banquet Hall Opportunity

      Property suitable for banquet hall or community event center.
      8023 Bennett St, Pittsburgh, PA 15208
      View Details
    • $675,000
      0.34 Acres

      Shaler Automotive Repair Opportunity

      Automotive repair location with five bays and four lifts.
      575 Seavey Rd, Pittsburgh, PA 15209
      View Details
    • $239,900
      Pending

      Versatile Office Building in Pittsburgh

      Two-suite commercial building with income potential in high-traffic location.
      3417 Universal Rd, Pittsburgh, PA 15235
      View Details
    • $349,999
      0.17 Acres

      Versatile Redevelopment Opportunity in Pittsburgh

      Vacant church in Mt. Washington, primed for transformation.
      67 Southern Ave, Pittsburgh, PA 15211
      View Details
    • $1,000,000
      0.15 Acres

      Bloomfield Retail/Office Space with Parking

      Versatile commercial property with parking in Pittsburgh's medical community.
      4301 Main St, Pittsburgh, PA 15224
      View Details
    • $269,000
      12,000 SF

      Versatile East Hills Commercial Space

      Approximately 12,000 sq ft property suitable for various commercial uses.
      8033 Bennett St, Pittsburgh, PA 15221
      View Details
    • New
      $84,900
      0.01 Acres

      Ross Township Office For Sale

      Office space for sale in a convenient Ross Township location.
      505 Mcknight Park Dr, Pittsburgh, PA 15237
      View Details

    FAQs

    What type of property is this?
    Opportunity zone commercial real estate - Prime Squirrel Hill multifamily investment.
    Where is this opportunity zone commercial real estate located?
    The property is located at 5532-5540 Covode Street Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: Prime 33-unit apartment building in Pittsburgh's desirable Squirrel Hill neighborhood.; Solid brick construction offering durable, long-term value.; Convenient on-site parking for approximately 12 vehicles.
    (724) 699-4707
    Request Owner's contact information
    5532-5540 Covode Street Pittsburgh, PA 15217
    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.
    5532-5540 Covode Street
    Pittsburgh, PA 15217
    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
    5532-5540 Covode Street Pittsburgh, PA 15217
    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
    Keane George
    (724) 699-4707
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!