Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Fully Rented 6-Unit Investment Property Title is generated by Realmo AI

    106 Philmar Drive, Butler, PA 16002

    View on Map
    Claim this Listing
    For Sale
    $340,000

    Six-unit property near downtown Butler with immediate cash flow.

    Type:Multi-Unit / Other
    Added:
    May 31, 2025
    Days on Market:
    368
    Last Refresh:
    Mar 13 at 2:31 pm

    Property Features for 106 Philmar Drive

    General Information

    Standard status
    Active
    Property subtype
    Multi-Unit / Other

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    Nicolas Supik

    Listing agent Nicolas Supik License #AB069209

    Listing office CENTURY 21 FRONTIER REALTY

    Listing date May 31, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 FRONTIER REALTY

    HighLights

    • Fully rented 6‑unit property providing immediate cash flow.
    • Desirable location convenient to downtown Butler's shops, dining, and attractions.
    • New roof installed in 2024.
    • Mix of unit types: 1‑bed, 2‑bed, and 3‑bed configurations.
    • Long‑term tenants in place with proven rental history.
    • Park‑like setting with ample parking.

    Overview

    This fully rented six-unit property is conveniently located near downtown Butler, which offers a variety of shops, dining options, and local attractions. The property features a ranch-style home containing four units: three units with one bedroom and one bathroom each, and one unit with three bedrooms and one and a half bathrooms. Additionally, there is a duplex, with each side offering two bedrooms and one bathroom. A new roof was installed in 2024. The units include a mix of appliances, some owned by the seller and others by the tenants. Several units have separate meters. All units are currently occupied, including long-term tenants, providing immediate cash flow and a proven rental history. The property is set in a park-like setting and offers ample parking. This property is an excellent investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Hair Salon Auto Repair Shop Big Box & Wholesale Store Accounting Firm Auto Parts Store Kitchen & Bath Showroom Department Store Grocery & Convenience Store HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Butler
    County
    Butler
    State
    Pennsylvania
    Longitude
    -79.868775
    Latitude
    40.841065

    Nearby Similar for Sale

    • $1,125,000

      Two Commercial Buildings in Butler

      Two commercial buildings with distinctive architecture and character-rich interiors.
      251/257 S Main Street, City of But SE, PA 16001
      View Details
    • $545,000

      Income-Producing Mixed-Use Property For Sale

      Mixed-use property with long-term tenants, solid cash flow.
      668 Pittsburgh Rd., Penn Twp, PA 16002
      View Details
    • $1,225,000

      15-Unit Gem in Butler

      Historic 15-unit apartment buildings with renovation potential on 1.48 acres.
      700 S Main St, City of But SW, PA 16001
      View Details
    • $1,400,000
      12,500 SF

      Freestanding Manufacturing Building with Office

      12,500 SF manufacturing building with office space for sale.
      180 Hollywood Dr, Butler, PA
      View Details
    • $2,000,000

      Class A Office with Amenities

      High-end office space with gym, kitchen, and parking.
      1737 N Main Street Ext, Butler, PA 16001
      View Details
    • $2,000,000

      Class A Office with Amenities

      High-end office space with gym, kitchen, and parking.
      1737 N Main Street Ext, Butler, PA 16001
      View Details
    • $650,000
      7,000 SF

      Butler, PA Retail Investment Opportunity

      Dollar General investment opportunity in Butler, Pennsylvania.
      119 N Main St, Butler, PA
      View Details
    • $175,000
      3,600 SF

      Downtown Butler Commercial Building on Main

      Commercial building in downtown Butler with high ceilings and open space.
      117 N Main St, Butler, PA, 16001-4902
      View Details
    • $1,250,000

      Downtown Office Building For Sale

      Well-positioned office building in the heart of downtown.
      106 South Main Street, Butler, PA 16001
      View Details
    • $1,250,000

      Downtown Office Building For Sale

      Well-positioned office building in the heart of downtown.
      106 South Main Street, Butler, PA 16001
      View Details
    • $6,500,000

      Industrial Property with Rail Access

      Manufacturing/warehouse property with heavy power, cranes, and rail access.
      629 E Butler Rd, Butler, PA 16002
      View Details
    • $2,200,000
      4,000 SF

      Sheetz NNN Ground Lease Opportunity

      Single-tenant Sheetz property with a NNN ground lease.
      1518 N Main St Ext, Butler, PA 16001
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit property near downtown Butler with immediate cash flow.
    Where is this apartment building located?
    The property is located at 106 Philmar Drive Butler, PA.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: Fully rented 6‑unit property providing immediate cash flow.; Desirable location convenient to downtown Butler's shops, dining, and attractions.; New roof installed in 2024.
    (412) 328-2367
    We can help!
    Listing Contact
    Nicolas Supik
    Real Estate License ID: AB069209
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    106 Philmar Drive, Butler, PA 16002
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!