Live-Work Flex
For Sale
$729,999
1204 Memorial Blvd, Connellsville, PA 15425
SINGLE_FAMILY - Connellsville, PA
Property Size6,900 SF
Lot Size0.40 Acres
Price / SF$105.80
Days on Market159
Property Features for 1204 Memorial Blvd
General Information
Property type
Residential
Property subtype
Office
Zoning
B1
Zoning description
B1
Subdivision
Connellsville
Standard status
Active
Lot size
0.40 Acres
Taxes and HOA fees
Tax Annual Amount
5058
Listing Agency:
REALTY ONE GROUP GOLD STANDARD
(724) 941-1427
Listed By:
Camille Miele · License #RS348289
(724) 941-1427
Added: Mar 5
Changed: Jul 21
Last Checked: Aug 11 at 7:06PM
MLS# 1742385
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story live-work flex building offers a large commercial component on the first floor and a residential apartment on the second. The first-floor space includes approximately 4,500 square feet of functional commercial area with four 10-foot garage bays and additional flexible space for warehouse use or expansion. The second floor provides a spacious apartment of approximately 2,400 square feet with a massive open-concept layout, 4 bedrooms, and 2 full bathrooms, complemented by vaulted ceilings and skylights.
Located at 1204 Memorial Blvd in Connellsville, Pennsylvania, the property sits on a 0.4027-acre lot and is zoned B1.
Overall, the configuration supports combined commercial and residential use within a single structure, whether for an owner-operator or for a buyer looking at both income and operating flexibility.
Located at 1204 Memorial Blvd in Connellsville, Pennsylvania, the property sits on a 0.4027-acre lot and is zoned B1.
Overall, the configuration supports combined commercial and residential use within a single structure, whether for an owner-operator or for a buyer looking at both income and operating flexibility.
Key Highlights
- Over 7,000 sqft total building with combined commercial and residential space
- First‑floor includes approx. 4,500 sqft commercial area plus four 10‑ft garage bays and flexible warehouse/expansion space
- Second‑floor apartment offers approx. 2,400 sqft with 4 bedrooms and 2 full bathrooms
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
$45,916
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
6.29%
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%
$918,320
$918.3K
Cap Rate 7%
$655,943
$655.9K
Cap Rate 9%
$510,178
$510.2K
Market Conditions
NOI Build-Up for 6,900 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
$58.0K $8.40/SF
− Vacancy
−$3.9K −$0.57/SF
EGI
$54.0K $7.83/SF
− OpEx
−$8.1K −$1.17/SF
NOI
$45.9K $6.65/SF
Area
Fayette County, PA
Vacancy
6.80%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$918,320
Cap Rate 7%
$655,943
Cap Rate 9%
$510,178
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,145 @ 7.0% cap · market cap 12.07%
Second Best
Mixed Use
$975.9K
$853.9K – $1.14M
NOI $68,310 @ 7.0% cap · market cap 9.36%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,028 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
4
Service bays
1
Residential units
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 15425, PA
17,975
Population
8,603
Households
2.1
Avg Household Size
46
Median Age
19%
College-Educated
91%
High-School Grad
57.7 sq mi
ZIP Area
312
Density / Sq Mi
$53,859
Median Household Income
$40,927
Median Earnings
$697
Median Rent
$129,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-story building with four 10ft garage bays on the first floor and a 4-bedroom apartment on the second.
Where is this live-work space located?
The property is located at 1204 Memorial Blvd Connellsville, PA.
What is the asking price?
The asking price for this property is $729,999.
What are key features of this property?
This property features: Over 7,000 sqft total building with combined commercial and residential space; First‑floor includes approx. 4,500 sqft commercial area plus four 10‑ft garage bays and flexible warehouse/expansion space; Second‑floor apartment offers approx. 2,400 sqft with 4 bedrooms and 2 full bathrooms
