Sign Up Successful!
You now have access to more from Realmo!
    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

    2 N Pennsylvania Ave Greensburg, PA 15601

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $650,000

    Three-story corner building in downtown Greensburg, 100% vacant.

    Property size:
    4,000 SF
    Lot size:
    0.05 Acres

    Property Features for 2 N Pennsylvania Ave

    General Information

    Size
    4,000 SF
    Lot size
    0.05 Acres

    We can help!

    Listing Contact
    Natalie Bodnar
    Source: Moodyscre

    Listing Agent: Natalie Bodnar

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

    Learn more

    Overview

    Downtown Greensburg Vacant Corner Building

    Located on Pennsylvania Avenue in downtown Greensburg, this three-story corner building includes a mezzanine level. The property, comprising approximately 4,000 square feet, is situated one block from the Palace Theatre and the Westmoreland County Courthouse. The building is currently 100% vacant and experiences high traffic volume due to its location in the heart of downtown Greensburg.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensburg
    County
    Westmoreland
    State
    Pennsylvania
    Longitude
    -79.545545
    Latitude
    40.302585

    Nearby Similar for Sale

    • $150,000
      0.40 Acres

      Southwest Greensburg Church For Sale

      Charming church with redevelopment potential in a quiet neighborhood.
      533 Sidney St, Greensburg, PA 15601
      View Details
    • $175,000
      6,500 SF

      Versatile Warehouse in Greensburg, PA

      Approximately 6,500 sq. ft. warehouse with flexible use options.
      128 N Washington Ave, Greensburg, PA 15601
      View Details
    • $210,000
      0.06 Acres

      Downtown Greensburg Office with Parking

      Prime office space in downtown Greensburg with parking and updated systems.
      439 S Maple Ave, Greensburg, PA 15601
      View Details
    • New
      $235,000
      Pending

      Greensburg Fourplex Near Seton Hill

      Four-unit apartment building near Seton Hill University and downtown Greensburg.
      302 N Pennsylvania Ave, Greensburg, PA 15601
      View Details
    • Contact for pricing

      Class A Office Building Greensburg

      Premier office building on 23.86 acres in Greensburg, PA.
      220 Megawatt Ln, Greensburg, PA 15601
      View Details
    • $224,900

      Greensburg Duplex with Detached Garage

      Solid brick duplex with detached garage, ideal for investors.
      427 E Pittsburgh St, Greensburg, PA 15601
      View Details
    • $800,000

      Greensburg Bar with Rental Units

      Turnkey bar with rental units in downtown Greensburg.
      19 N Maple Ave, Greensburg, PA 15601
      View Details
    • $344,999
      6,000 SF

      Greensburg Retail Building with Loading

      6,000 SF retail building with high traffic and parking.
      508 New Alexandria Rd, Greensburg, PA 15601
      View Details
    • $370,000
      1,990 SF

      Restaurant with Apartment and Parking

      Equipped restaurant with apartment, outdoor seating, and ample parking.
      1017 Highland Ave, Greensburg, PA 15601
      View Details
    • Contact for pricing
      38,000 SF

      Greensburg Retail and Office Space

      Retail and office spaces with ample parking and high visibility.
      1075 South Main St, Greensburg, PA 15601
      View Details
    • $3,250,000
      16,717 SF

      Greensburg Office Building with Gym

      Class A office building with gym, conference rooms, and green space.
      4977 State Route 30, Greensburg, PA 15601
      View Details
    • $450,000

      All-Brick Single-Level Home

      Single-level home with modern updates and desirable features.
      116 Reserve Rd, Greensburg, PA 15601
      View Details

    FAQs

    What type of property is this?
    Apartment building - Three-story corner building in downtown Greensburg, 100% vacant.
    Where is this apartment building located?
    The property is located at 2 N Pennsylvania Ave Greensburg, PA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Prime location on Pennsylvania Ave in downtown Greensburg.; - High traffic area, ideal for business.; - Corner building, offering increased visibility.
    (724) 838-3660
    Request Owner's contact information
    2 N Pennsylvania Ave Greensburg, PA 15601
    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.
    2 N Pennsylvania Ave
    Greensburg, PA 15601
    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
    2 N Pennsylvania Ave Greensburg, PA 15601
    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
    Natalie Bodnar
    (724) 838-3660
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.