Three-Story Mixed-Use
For Sale
Contact for pricing
1735 E Carson St, Pittsburgh, PA 15203
Ground-floor retail is occupied, with one residential unit spanning the upper floors.
Property Size6,000 SF
Price / SF$191.67
Days on Market8
Property Features for 1735 E Carson St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
MULTIFAMILY
Additional Details
Multifamily Units
1
Amenities
off-street
covered parking
Building Details
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Hanna Commercial Real Estate | Pittsburgh
(412) 261-2200
Listed By:
Anthony Cost · License #AB067512
Source:
Moodyscre
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 31 at 12:37AM
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 Hanna Commercial Real Estate | Pittsburgh
Investment Insights
Based on property information with market context.
Located at 1735 E Carson St in Pittsburgh, Pennsylvania, this three-story mixed-use building contains approximately 6,000+/- SF of retail and residential space. The property includes off-street covered parking, adding dedicated parking capacity to the building’s configuration.
The first-floor retail space is occupied by a tenant. Residential space extends across the second and third floors, where one unit is available. The combination of ground-level commercial space and upper-floor residential use creates a defined mixed-use layout within the building.
The first-floor retail space is occupied by a tenant. Residential space extends across the second and third floors, where one unit is available. The combination of ground-level commercial space and upper-floor residential use creates a defined mixed-use layout within the building.
Key Highlights
- Approximately 6,000+/- SF of retail and residential space
- Three‑story mixed‑use building
- Occupied first‑floor retail tenant
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
$69,930
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
6.08%
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%
$1,398,600
$1.4M
Cap Rate 7%
$999,000
$999.0K
Cap Rate 9%
$777,000
$777.0K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$8.1K −$1.35/SF
EGI
$99.9K $16.65/SF
− OpEx
−$30.0K −$5.00/SF
NOI
$69.9K $11.66/SF
Area
Pittsburgh, PA
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,398,600
Cap Rate 7%
$999,000
Cap Rate 9%
$777,000
Alternative Uses
Best Use
Retail
$999.0K
$874.1K – $1.17M
NOI $69,930 @ 7.0% cap · market cap 6.08%
Second Best
Mixed Use
$956.6K
$837.0K – $1.12M
NOI $66,960 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,761 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 15203, PA
10,720
Population
6,983
Households
1.5
Avg Household Size
30
Median Age
61%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
7,147
Density / Sq Mi
$71,299
Median Household Income
$55,738
Median Earnings
$1,458
Median Rent
$251,900
Median Home Value
Market
Vacancy Rate% for Retail in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is occupied, with one residential unit spanning the upper floors.
Where is this mixed-use property located?
The property is located at 1735 E Carson St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approximately 6,000+/- SF of retail and residential space; Three‑story mixed‑use building; Occupied first‑floor retail tenant
