Bar/Restaurant Opportunity on 1.5
For Sale
$285,000
2222 Freeport Rd, New Kensington, PA 15068
Bar/restaurant on 1.5 acres with redevelopment potential.
Property Size1,500 SF
Lot Size1.50 Acres
Price / SF$190
Days on Market209
Property Features for 2222 Freeport Rd
General Information
Standard status
Active
Size
1,500 SF
Lot size
1.50 Acres
Taxes and HOA fees
Annual Taxes
$5,713
Listing Agency:
CENTURY 21 AMERICAN HERITAGE
(724) 335-4700
Listed By:
Robert Fenoglietto
(724) 335-4700
Source:
Exprealty
Added: Jan 26
Changed: Aug 22
Last Checked: Aug 21 at 5:35AM
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 CENTURY 21 AMERICAN HERITAGE
Investment Insights
Based on property information with market context.
This property presents an investment opportunity on approximately 1.5 acres. The existing building, previously operated as a bar and restaurant, offers approximately 1500 square feet of space. The property's potential extends to multiple uses, offering flexibility for redevelopment. The sale includes two parcels.
Key Highlights
- 1.5 acre property presents an excellent investment opportunity.
- Two parcels included.
- Approximately 1500 sq ft building on site.
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
$18,934
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
6.64%
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%
$378,680
$378.7K
Cap Rate 7%
$270,486
$270.5K
Cap Rate 9%
$210,378
$210.4K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$1.8K −$1.17/SF
EGI
$25.2K $16.83/SF
− OpEx
−$6.3K −$4.21/SF
NOI
$18.9K $12.62/SF
Area
Westmoreland County, PA
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$378,680
Cap Rate 7%
$270,486
Cap Rate 9%
$210,378
Alternative Uses
Best Use
Specialty Retail
$270.5K
$236.7K – $315.6K
NOI $18,934 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.1K
$334.3K – $445.8K
NOI $26,745 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
55k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
Wendy's
Dining
16,431 visits/mo
0.5 miles
Taco Bell
Dining
12,325 visits/mo
0.3 miles
Denny's
Dining
9,439 visits/mo
0.5 miles
Sunoco
Shops & Services
6,883 visits/mo
0.2 miles
Sunoco
Shops & Services
6,582 visits/mo
0.4 miles
Demographics for 15068, PA
37,104
Population
18,319
Households
2
Avg Household Size
47
Median Age
27%
College-Educated
95%
High-School Grad
45.4 sq mi
ZIP Area
817
Density / Sq Mi
$62,997
Median Household Income
$42,795
Median Earnings
$749
Median Rent
$166,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Gunny's Restaurant and Lounge — 902 McCandless St, New Kensington, PA 15068
- Augie's Sports Pub — 1818 5th Ave, Arnold, PA 15068
- botL — 1716 Freeport Rd, New Kensington, PA 15068
- CVFC #1 (Arnold #1) Firemen's Club — 1710-1712, 4418, 1712 5th Ave, Arnold, PA 15068
- Niko’s Spot — 1415 4th Ave, New Kensington, PA 15068
Frequently Asked Questions
What type of property is this?
Bar & Pub - Bar/restaurant on 1.5 acres with redevelopment potential.
Where is this bar & pub located?
The property is located at 2222 Freeport Rd New Kensington, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1.5 acre property presents an excellent investment opportunity.; Two parcels included.; Approximately 1500 sq ft building on site.
