Turnkey Warehouse and Office
For Sale
$797,750
205 31st St, McKeesport, PA 15132
12,500 sqft warehouse and office near Pittsburgh with modern updates.
Property Size12,500 SF
Lot Size0.47 Acres
Price / SF$63.82
Days on Market254
Property Features for 205 31st St
General Information
Standard status
Active
Size
12,500 SF
Lot size
0.47 Acres
Taxes and HOA fees
Annual Taxes
$7,529
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES THE PREFERRED PROP
(724) 733-7100
Listed By:
Patrick Conley · License #AB068288
(724) 733-7100
Source:
Exprealty
Added: Dec 10, 2025
Changed: Aug 20
Last Checked: Aug 20 at 10:02AM
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 BERKSHIRE HATHAWAY HOMESERVICES THE PREFERRED PROP
Investment Insights
Based on property information with market context.
This 12,500 sqft property, located 30 minutes east of Pittsburgh in the McKeesport Versailles Corridor near the Little Boston Bridge, features approximately 6,500 sqft of warehouse space and 6,000 sqft of updated modern office space. The well-maintained building includes 3-phase electrical power and off-street parking. The heated warehouse has a loading dock, overhead crane, locker room, vaulted storage, and LED sensored lighting, with direct access to the office area. The updated office space includes a lobby/receptionist area, eight large offices, a conference room, a break room, a large training room, a large bullpen, an executive office, and two bathrooms. Recent improvements include a new roof in 2021, and a rear office HVAC system and hot water tank in 2019. The property is conveniently located steps away from public transportation and state routes 148, 48, and Route 30.
Key Highlights
- Turnkey 12,500 sqft warehouse and office property.
- Approximately 6,500 sqft of warehouse space and 6,000 sqft of updated modern office space.
- Warehouse features a loading dock, overhead crane, locker room, vaulted storage, and LED sensored lighting.
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
$66,688
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
8.36%
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%
$1,333,760
$1.3M
Cap Rate 7%
$952,686
$952.7K
Cap Rate 9%
$740,978
$741.0K
Market Conditions
NOI Build-Up for 12,500 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
$102.0K $8.16/SF
− Vacancy
−$6.7K −$0.54/SF
EGI
$95.3K $7.62/SF
− OpEx
−$28.6K −$2.29/SF
NOI
$66.7K $5.34/SF
Area
Allegheny County, PA
Vacancy
6.60%
Lease Rate
$8.16 /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%
$1,333,760
Cap Rate 7%
$952,686
Cap Rate 9%
$740,978
Alternative Uses
Best Use
Office B
$2.28M
$2.00M – $2.66M
NOI $159,683 @ 7.0% cap · market cap 20.02%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $80,978 @ 7.0% cap · market cap 10.15%
Theoretical Best
Office A
$3.18M
$2.79M – $3.71M
NOI $222,876 @ 7.0% cap · market cap 27.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15132, PA
19,418
Population
10,511
Households
1.8
Avg Household Size
42
Median Age
12%
College-Educated
87%
High-School Grad
5.6 sq mi
ZIP Area
3,468
Density / Sq Mi
$32,170
Median Household Income
$29,827
Median Earnings
$791
Median Rent
$71,300
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 - 12,500 sqft warehouse and office near Pittsburgh with modern updates.
Where is this flex space located?
The property is located at 205 31st St McKeesport, PA.
What is the asking price?
The asking price for this property is $797,750.
What are key features of this property?
This property features: Turnkey 12,500 sqft warehouse and office property.; Approximately 6,500 sqft of warehouse space and 6,000 sqft of updated modern office space.; Warehouse features a loading dock, overhead crane, locker room, vaulted storage, and LED sensored lighting.
