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    Monroeville Mixed-Use Redevelopment Opportunity Title is generated by Realmo AI

    4755-4767 William Penn Hwy, Monroeville, PA 15146

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    For Sale
    $3,700,000

    For Sale or Lease | Owner-User, Investment or Redevelopment Opportunity

    Property size:
    24,400 SF
    Lot size:
    4.95 Acres
    Price / SF:
    $151/SF
    Added:
    Jan 29, 2025
    Days on Market:
    473
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 4755-4767 William Penn Hwy

    General Information

    Standard status
    Active
    Property type
    Other mixed-use properties, Restaurants, Other specialty properties, Mixed-use properties, Retail properties & Spaces, Specialty properties
    Size
    24,400 SF
    Elevators
    N/A
    Lot size
    4.95 Acres
    Sale Condition
    Redevelopment Project
    Investment Type
    Owner User

    Building Details

    Buildings
    2
    Units
    2

    We can help!

    Listing Contact
    Andreas Kamouyerou

    Listing agent Andreas

    Listing office

    Listing date Jan 29, 2025

    HighLights

    • Land area of about 4.95 acres but also could be combined with neighboring parcel of 63 acres
    • 23,500 SF building with a 900 SF restaurant building
    • Great visibility along Route 22/William Penn Hwy
    • 47,000+ ADT on Route 22/William Penn Hwy
    • Parking lot with approx. 110 spaces
    • Ample room for increased parking capabilities
    • City of Monroeville agreed to vacate the back road to the current property owner

    Overview

    This 4.95-acre site in Monroeville, PA, offers a redevelopment or investment opportunity. The property includes a 23,500 square foot building and a 900 square foot restaurant building. A currently existing trailer park is easily removable, opening up further development potential. The site has high visibility on Route 22/William Penn Highway, with an average daily traffic count exceeding 47,000 vehicles. On-site parking accommodates approximately 110 vehicles, with room for expansion. The City of Monroeville has approved the vacation of a rear road, further enhancing the property's development potential. The property is zoned for mixed-use development. A significant expansion opportunity exists through the potential acquisition of an adjacent 63-acre parcel, owned by the seller, creating a truly massive development prospect.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $3.16M
    NOI $284,382 @ 9.00% cap · cautious / downside scenario
    Moderate
    $4.06M
    NOI $284,382 @ 7.00% cap · market / base-case scenario
    Aggressive
    $5.69M
    NOI $284,382 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $439.2k $18.00
    − Vacancy −$32.9k −$1.35
    EGI $406.3k $16.65
    − OpEx −$121.9k −$5.00
    NOI $284.4k $11.66
    24,400 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $4.06M
    $3.55M – $4.74M (±1% cap)
    NOI $284,382 @ 7.0% cap · market cap 7.69%
    Second Best
    Mixed Use
    $3.53M
    $3.09M – $4.12M (±1% cap)
    NOI $247,050 @ 7.0% cap · market cap 6.68%
    Theoretical Best
    Office A
    $6.22M
    $5.44M – $7.25M (±1% cap)
    NOI $435,054 @ 7.0% cap · market cap 11.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroeville
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.7596
    Latitude
    40.4264

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    FAQs

    What type of property is this?
    Mixed-use property - For Sale or Lease | Owner-User, Investment or Redevelopment Opportunity
    Where is this mixed-use property located?
    The property is located at 4755-4767 William Penn Hwy Monroeville, PA.
    What is the asking price?
    The asking price for this property is $3,700,000.
    What are key features of this property?
    This property features: Land area of about 4.95 acres but also could be combined with neighboring parcel of 63 acres; 23,500 SF building with a 900 SF restaurant building; Great visibility along Route 22/William Penn Hwy
    (724) 825-0888
    We can help!
    Listing Contact
    Andreas Kamouyerou
    Learn More
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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
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