Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Townfair Center Title is generated by Realmo AI

    475 S Ben Franklin Road, Indiana, PA 15701

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for lease anchored by Giant Eagle and Lowe's.

    Type:Retail
    Added:
    Feb 25, 2021
    Days on Market:
    1902
    Last Refresh:
    Mar 25 at 7:57 am

    Property Features for 475 S Ben Franklin Road

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 475 S Ben Franklin Road Contact us

    We can help!

    Listing Contact
    Mark Porter

    Listing agent Mark Porter License #OH

    Listing office Phillips Edison & Company

    Listing date Feb 25, 2021

    Source Crexi

    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 Phillips Edison & Company

    HighLights

    • Anchored by Giant Eagle, the number one grocer in the Pittsburgh area
    • Features Lowe's, Michaels, and PetSmart
    • Located in Indiana, Pennsylvania
    • Offers retail space for lease
    • Part of Townfair Center
    • Includes multiple tenants

    Overview

    Townfair Center, anchored by Giant Eagle, the leading grocer in the Pittsburgh area, offers retail space for lease. The center also features Lowe's, Michaels, and PetSmart, providing a diverse shopping environment in Indiana, Pennsylvania.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fortune Buffet Restaurant Giant Eagle Prepared ... Food Market Installation Services General Contractor Grand Buffet Restaurant Citizens ATM Atm

    Suggested Use

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

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

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Giant Eagle, 475 Ben Franklin Rd S, Indiana, PA 15701
    • Indiana West — 2450 Philadelphia St, Indiana, PA 15701
    • Indiana Mall — 2334 Oakland Ave, Indiana, PA 15701
    • Indiana Commons — 2125 Oakland Ave, Indiana, PA 15701

    Location Insight

    • Map
    • Local Demand
    City
    Indiana
    County
    Indiana
    State
    Pennsylvania
    Longitude
    -79.190589
    Latitude
    40.613218

    Nearby Similar for Lease

    • $695,000 SF/Yr

      Versatile Commercial Building in Indiana

      4,267 SF commercial building in downtown Indiana Boro, PA.
      320 S Seventh Street, Indiana Boro, PA 15701
      View Details
    • $800/Mo

      Downtown Office Space For Rent

      Versatile office space with open layout and private room.
      530 Philadelphia Street, Indiana Boro, PA 15701
      View Details
    • $2,295,000 SF/Yr

      White Twp Retail Space Available

      Prime commercial space for lease in White Twp, PA.
      420 Old Rte 119 Hwy N, White Twp, PA 15701
      View Details
    • $83,208 SF/Yr

      Prime Indiana Office/Retail Space

      12,000 SF office/retail space with downtown views for sale.
      699 Philadelphia St, Indiana, PA
      View Details
    • $12 SF/Yr

      Downtown Indiana Office Space Available

      Prime downtown office space for lease with high road exposure.
      57 9th St, Indiana, PA, 15701-2647
      View Details
    • $10 SF/Yr

      Downtown Indiana Office Space

      Office space for lease in a high-traffic downtown location.
      45 S Eighth Street, Indiana Boro - IND, PA 15701
      View Details
    • Contact for pricing

      Prime Location Freestanding Building

      2,550 SF freestanding building in high-traffic downtown area.
      659 Philadelphia St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Former Convenience Store in Indiana

      4,485 SF former convenience store near Indiana University of Pennsylvania.
      768 Wayne Ave, Indiana, PA 15701
      View Details
    • Contact for pricing

      Retail Redevelopment in Downtown Indiana

      Retail spaces available in downtown Indiana near university.
      405 Philadelphia St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Retail Space in Indiana, PA

      Retail space in a vibrant commercial and community area.
      1235 Oakland Ave, Indiana, PA 15701
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space for lease anchored by Giant Eagle and Lowe's.
    Where is this shopping center located?
    The property is located at 475 S Ben Franklin Road Indiana, PA.
    What are key features of this property?
    This property features: Anchored by Giant Eagle, the number one grocer in the Pittsburgh area; Features Lowe's, Michaels, and PetSmart; Located in Indiana, Pennsylvania
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Porter
    Real Estate License ID: OH
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    475 S. Ben Franklin Road, Indiana, PA 15701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!