Flex Space with Conditioned
New
For Sale
$800,000
1900 Sleepy Hollow Rd, South Park, PA 15129
Versatile commercial space combines professional offices with warehouse and storage capabilities for varied business operations.
Property Size8,415 SF
Lot Size1.41 Acres
Price / SF$95.07
Days on Market2
Property Features for 1900 Sleepy Hollow Rd
General Information
Standard status
Active
Size
8,415 SF
Class
B
Total Parking Spaces
30
Lot size
1.41 Acres
Property subtype
Office
Building Details
Building Size
8,415 SF
Year Built
1988
Listing Agency:
NAI Burns Scalo
Listed By:
John Eliopoulos
(412) 613-6229
Source:
Naiglobal
Added: Sep 2
Last Checked: Sep 2 at 1:59PM
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 NAI Burns Scalo
Investment Insights
Based on property information with market context.
This flex property combines professional office areas with warehouse and storage capabilities in a versatile commercial configuration. The layout is identified as suitable for office, warehouse, light distribution, manufacturing, showroom, and contractor headquarters uses. Two conditioned trailers provide additional functional space, while HVAC units and updated flooring support the interior improvements.
Site improvements include a paved parking lot with 30 parking spaces, a new roof, and a painted building exterior. Constructed in 1988, the property occupies a 1.41-acre site and offers a combination of office and operational areas for businesses requiring more than a conventional office setting.
Site improvements include a paved parking lot with 30 parking spaces, a new roof, and a painted building exterior. Constructed in 1988, the property occupies a 1.41-acre site and offers a combination of office and operational areas for businesses requiring more than a conventional office setting.
Key Highlights
- Office and warehouse/storage configuration
- Two conditioned trailers included
- 30 parking spaces on a paved lot
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
$54,514
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
6.81%
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%
$1,090,280
$1.1M
Cap Rate 7%
$778,771
$778.8K
Cap Rate 9%
$605,711
$605.7K
Market Conditions
NOI Build-Up for 8,415 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
$68.7K $8.16/SF
− Vacancy
−$4.5K −$0.54/SF
EGI
$64.1K $7.62/SF
− OpEx
−$9.6K −$1.14/SF
NOI
$54.5K $6.48/SF
Area
Allegheny County, PA
Vacancy
6.60%
Lease Rate
$8.16 /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%
$1,090,280
Cap Rate 7%
$778,771
Cap Rate 9%
$605,711
Alternative Uses
Best Use
Office B
$1.54M
$1.34M – $1.79M
NOI $107,498 @ 7.0% cap · market cap 13.44%
Second Best
Warehouse
$778.8K
$681.4K – $908.6K
NOI $54,514 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,040 @ 7.0% cap · market cap 18.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15129, PA
10,901
Population
4,759
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
1,416
Density / Sq Mi
$90,833
Median Household Income
$53,465
Median Earnings
$1,341
Median Rent
$236,900
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?
Flex space - Versatile commercial space combines professional offices with warehouse and storage capabilities for varied business operations.
Where is this flex space located?
The property is located at 1900 Sleepy Hollow Rd South Park, PA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Office and warehouse/storage configuration; Two conditioned trailers included; 30 parking spaces on a paved lot
