Add Listing
    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

    1515 Washington Blvd McKeesport, PA 15133

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,500,000

    Value-add retail plaza or redevelopment opportunity in McKeesport.

    Building Details

    Year built
    1990

    We can help!

    Listing Contact
    Andreas Kamouyerou, Ccim
    Andreas Kamouyerou, Ccim
    Source: Svn

    Listing Agency: SVN | Three Rivers Commercial Advisors Listing Agent: Andreas Kamouyerou, Ccim

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

    Learn more

    Overview

    Retail Plaza Redevelopment Opportunity

    This multi-tenant retail plaza, located at 1515 Washington Blvd in McKeesport, presents a value-add investment or redevelopment opportunity. The free-standing building, constructed in 1990, occupies a 6.2-acre commercially zoned parcel. The building is approximately 26,000 square feet. The property has frontage on a main corridor in McKeesport. The majority of the roof has been replaced, and half of the parking lot has been redone. Currently, the property is vacant, offering a blank slate for an investor or potential owner-user. This property offers tremendous potential.
    Location Intelligence

    Current Use by Public Records

    Western Union Bank Da Vinci Pizza ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    McKeesport
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.878867
    Latitude
    40.334164

    Nearby Similar for Sale

    • $59,900
      0.09 Acres

      Versailles Boro Office For Sale

      Former dentist office in well-maintained building, suitable for professional services.
      4804 Walnut St, McKeesport, PA 15132
      View Details
    • $175,000
      Pending

      Multi-Use Building with Endless Potential

      Spacious property with flexibility for business or investment opportunities.
      600 Sceneridge Rd, McKeesport, PA 15133
      View Details
    • $605,000
      0.44 Acres

      Remodeled McKeesport Fourplex Opportunity

      Fully remodeled fourplex with separate utilities and parking.
      1116 Oneil Blvd, McKeesport, PA 15132
      View Details
    • $79,900
      0.29 Acres

      McKeesport Commercial Property For Sale

      Commercial property with restaurant and apartment in McKeesport, PA.
      2634 5Th Ave, McKeesport, PA 15132
      View Details
    • $1,250,000
      0.21 Acres

      Thriving Butcher Shop and Grocery

      Turnkey butcher shop and specialty grocery in McKeesport, PA.
      2010 Eden Park Blvd, McKeesport, PA 15132
      View Details
    • $65,000

      McKeesport Church with Stained Glass

      Church with potential for venue, apartments, or restaurant conversion.
      2117 Jenny Lind St, McKeesport, PA 15132
      View Details
    • $60,000
      Pending

      McKeesport Multifamily Investment Opportunity

      Five-unit multifamily property with value-add potential in McKeesport, PA.
      116 5Th Ave, McKeesport, PA 15132
      View Details
    • $89,900
      0.10 Acres

      Mixed-Use Building with Retail/Office

      Mixed-use commercial building with retail and office space in McKeesport.
      600 Locust St, McKeesport, PA 15132
      View Details
    • $98,000
      0.14 Acres

      Versatile Building Across From UPMC

      Expansive building near UPMC McKeesport Hospital with development potential.
      1320-1326 5Th Ave, McKeesport, PA 15132
      View Details
    • $887,750

      Turnkey Warehouse and Office Property

      12,500 sqft warehouse and office near Pittsburgh with modern updates.
      205 31St St, McKeesport, PA 15132
      View Details
    • $947,750
      12,500 SF

      Turnkey Warehouse & Office Property

      12,500 sqft warehouse and office space near Pittsburgh.
      205 31St St, McKeesport, PA 15132
      View Details
    • $285,000

      Liberty Boro Storage Investment

      Brick building with storage units and versatile front area.
      2922 Liberty Way, McKeesport, PA 15133
      View Details

    FAQs

    What type of property is this?
    Shopping center - Value-add retail plaza or redevelopment opportunity in McKeesport.
    Where is this shopping center located?
    The property is located at 1515 Washington Blvd McKeesport, PA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Large 6.2 acre commercially zoned parcel on main corridor.; - 26,000 SF multi-tenant retail plaza or redevelopment opportunity.; - "Value-Add" investment opportunity.
    (724) 825-0888
    Request Owner's contact information
    1515 Washington Blvd McKeesport, PA 15133
    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.
    1515 Washington Blvd
    McKeesport, PA 15133
    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
    1515 Washington Blvd McKeesport, PA 15133
    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
    Andreas Kamouyerou, Ccim
    Andreas Kamouyerou, Ccim
    Real Estate License ID: #RS340004
    (724) 825-0888 (412) 535-8050 (412) 535-8062
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!