Dormont 14-Unit Apartment
For Sale
Contact for pricing
1144 Tennessee Ave, Pittsburgh, PA 15216
14-unit apartment building with modern amenities in Dormont.
Property Size9,164 SF
Price / SF$130.95
Days on Market161
Property Features for 1144 Tennessee Ave
General Information
Standard status
Active
Size
9,164 SF
Property subtype
Multifamily
Building Details
Units
14
Listing Agency:
SVN | Three Rivers Commercial Advisors
(412) 535-5759
Listed By:
Keane George · License #PA RS317489
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 10 at 12:01PM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
This is a 14-unit apartment building located in Dormont. The 9,164 square-foot property features contemporary units with hardwood flooring, stainless steel appliances, granite countertops, and modern light fixtures. The property is intended for use as an apartment building, multifamily property, or residential income property.
Key Highlights
- 14‑unit apartment building offers immediate rental income potential.
- Contemporary building design provides a modern living experience.
- Hardwood flooring adds a touch of elegance and durability.
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
$96,651
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
8.05%
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%
$1,933,020
$1.9M
Cap Rate 7%
$1,380,729
$1.4M
Cap Rate 9%
$1,073,900
$1.1M
Market Conditions
NOI Build-Up for 9,164 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
$186.9K $20.40/SF
− Vacancy
−$11.2K −$1.22/SF
EGI
$175.7K $19.18/SF
− OpEx
−$79.1K −$8.63/SF
NOI
$96.7K $10.55/SF
Area
Pittsburgh, PA
Vacancy
6.00%
Lease Rate
$20.40 /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%
$1,933,020
Cap Rate 7%
$1,380,729
Cap Rate 9%
$1,073,900
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,651 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.55M – $3.40M
NOI $204,298 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 15216, PA
22,966
Population
11,194
Households
2.1
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
6,755
Density / Sq Mi
$81,542
Median Household Income
$48,674
Median Earnings
$1,078
Median Rent
$193,700
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 - 14-unit apartment building with modern amenities in Dormont.
Where is this apartment building located?
The property is located at 1144 Tennessee Ave Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 14‑unit apartment building offers immediate rental income potential.; Contemporary building design provides a modern living experience.; Hardwood flooring adds a touch of elegance and durability.
