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    Mixed-Use Investment Building Title is generated by Realmo AI

    2145 Centre Ave, Pittsburgh, PA 15219

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    For Sale
    $650,000

    Renovated mixed-use property with a ground-floor storefront and six rent-ready apartments plus rear office space.

    Type:Retail
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:03 am

    Property Features for 2145 Centre Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Jason Campagna
    Jason Campagna

    Listing agent Jason Campagna License #PA #RM424399

    Listing office SVN | Three Rivers Commercial Advisors

    Listing date Jun 2, 2026

    Source Svn

    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

    HighLights

    • Mixed‑use 7‑unit building at 2145 Centre Avenue with 1 ground‑floor commercial storefront plus 6 residential units
    • Ground‑floor storefront currently paying $1,500/month through October 2026
    • Extensive 2019 renovation including new mechanicals, plumbing, electrical, sprinkler/life safety, and HVAC
    • All 6 apartments are vacant and rent‑ready
    • Includes a vacant rear office space plus a large basement for tenant storage and laundry
    • Forecasted gross income of $110,505 with NOI of $83,743 and projected 12.9% cap rate

    Overview

    This mixed-use investment building offers seven total units, combining a ground-floor commercial storefront with residential living space. The residential component includes studio units and four 1-bedroom apartments. The owner completed an extensive renovation in 2019, including new mechanical, plumbing, electrical, sprinkler/life safety, and HVAC systems. All six apartments are currently vacant and rent ready. In addition to the storefront and apartments, the property also includes a vacant office space toward the rear, along with a large basement area for tenant storage and laundry.

    The building is positioned in the heart of Pittsburgh’s Hill District, and the storefront provides street-facing commercial presence. The listing notes the storefront is currently paying $1,500 per month through October 2026.

    For investors or owner-operators, the property presents a straightforward income approach with a mix of commercial and residential components. With the apartments already renovated and ready to lease, the asset can support immediate rental execution while offering further upside through leasing the rear office space.
    Location Intelligence

    Current Use by Public Records

    Nafasi on Centre Community Center RubyDawn International LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.97721
    Latitude
    40.445263

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    FAQs

    What type of property is this?
    Apartment building - Renovated mixed-use property with a ground-floor storefront and six rent-ready apartments plus rear office space.
    Where is this apartment building located?
    The property is located at 2145 Centre Ave Pittsburgh, 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: Mixed‑use 7‑unit building at 2145 Centre Avenue with 1 ground‑floor commercial storefront plus 6 residential units; Ground‑floor storefront currently paying $1,500/month through October 2026; Extensive 2019 renovation including new mechanicals, plumbing, electrical, sprinkler/life safety, and HVAC
    (724) 825-3137
    We can help!
    Listing Contact
    Jason Campagna
    Jason Campagna
    Real Estate License ID: PA #RM424399
    Learn More
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    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
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