Renovated Mixed-Use
For Sale
Contact for pricing
Pending
2145 Centre Ave, Pittsburgh, PA 15219
The building combines one commercial storefront with six residential units under one roof.
Property Size4,500 SF
Days on Market14
Property Features for 2145 Centre Ave
General Information
Standard status
Pending
Size
4,500 SF
Property subtype
RETAIL
Additional Details
Multifamily Units
6
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
SVN | Three Rivers Commercial Advisors
(724) 825-3137
Listed By:
Jason Campagna · License #RM424399
(724) 825-3137
Source:
Moodyscre
Added: Aug 17
Changed: Aug 25
Last Checked: Aug 29 at 11:02AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
This 4,500-square-foot mixed-use building contains one commercial storefront and six residential units. The property has been fully renovated, providing a combined commercial and residential configuration within a single building.
Located at 2145 Centre Ave in Pittsburgh, PA 15219, the property offers a storefront component alongside multiple residential units. Financial projections include a 12.9 CAP rate, with forecasted gross income and NOI excluded from this summary.
Located at 2145 Centre Ave in Pittsburgh, PA 15219, the property offers a storefront component alongside multiple residential units. Financial projections include a 12.9 CAP rate, with forecasted gross income and NOI excluded from this summary.
Key Highlights
- One commercial storefront plus 6 residential units
- 4,500 square feet of mixed‑use building area
- Fully renovated building
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
$47,461
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
8.92%
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%
$949,220
$949.2K
Cap Rate 7%
$678,014
$678.0K
Cap Rate 9%
$527,344
$527.3K
Market Conditions
NOI Build-Up for 4,500 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
$91.8K $20.40/SF
− Vacancy
−$5.5K −$1.22/SF
EGI
$86.3K $19.18/SF
− OpEx
−$38.8K −$8.63/SF
NOI
$47.5K $10.55/SF
Area
Pittsburgh, PA
Vacancy
6.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$949,220
Cap Rate 7%
$678,014
Cap Rate 9%
$527,344
Alternative Uses
Best Use
Retail
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 9.86%
Second Best
Mixed Use
$717.4K
$627.8K – $837.0K
NOI $50,220 @ 7.0% cap · market cap 9.44%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,321 @ 7.0% cap · market cap 18.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 15219, PA
10,949
Population
7,139
Households
1.5
Avg Household Size
37
Median Age
35%
College-Educated
93%
High-School Grad
2.2 sq mi
ZIP Area
4,977
Density / Sq Mi
$32,403
Median Household Income
$35,540
Median Earnings
$894
Median Rent
$193,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines one commercial storefront with six residential units under one roof.
Where is this mixed-use property located?
The property is located at 2145 Centre Ave Pittsburgh, PA.
What is the asking price?
The asking price for this property is $532,000.
What are key features of this property?
This property features: One commercial storefront plus 6 residential units; 4,500 square feet of mixed‑use building area; Fully renovated building
