Building Details

Buildings 2

Construction brick, block, and vinyl

Listing Agency: RE/MAX POWER Associates J***@remax.net Show Phone

Listed By: James Hanley · License #AB068327 Show Phone

Source: Exprealty

Added: Jul 22 Changed: Aug 20 Last Checked: Aug 20 at 2:05PM

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Investment Insights

Based on property information with market context.

This for-sale package includes two multi-unit residential buildings sold together. The St. Mary Street building contains five units configured with two bedrooms, one-and-one-half bathrooms, a kitchen, and a living room. The St. Joseph Street building contains five units with a mix of one three-bedroom, 1.5-bath unit and four two-bedroom, 1.5-bath units, each with a large living room and kitchen. The portfolio is improved with brick, block, and vinyl construction, shingle roofs, electric baseboard heat, public water and public sewer, and a 200-amp electrical service with breakers.

Each building offers blacktop parking for approximately seven to nine vehicles. The St. Joseph Street property also includes a separate utility room for the hot-water tank and additional space used as an office or paid-to-use laundry area. Appliances and certain furnishings within the units are included with the sale, subject to the terms of the agreement; tenant-owned personal property is excluded.

Financial information, occupancy details, leases, and additional documentation are available to qualified buyers upon request.

Key Highlights

• Sold together: two multifamily buildings at 224 St. Mary St and 235 St. Joseph St in Loretto, PA
• 10 total residential units total (5 units per building) on the Saint Francis University campus
• St. Joseph building: approx. 5,712 SF with one 3BD/1.5BA unit and four 2BD/1.5BA units

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

$63,234

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

7.23%

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%

$1,264,680 $1.3M

Cap Rate 7%

$903,343 $903.3K

Cap Rate 9%

$702,600 $702.6K

Market Conditions

NOI Build-Up for 10,302 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

$123.6K $12.00/SF

− Vacancy

−$8.7K −$0.84/SF

EGI

$115.0K $11.16/SF

− OpEx

−$51.7K −$5.02/SF

NOI

$63.2K $6.14/SF

Area

Cambria County, PA

Vacancy

7.00%

Lease Rate

$12.00 /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%

$1,264,680

Cap Rate 7%

$903,343

Cap Rate 9%

$702,600

Alternative Uses

Best Use

Apartment 5plus

$903.3K

$790.4K – $1.05M (±1% cap)

NOI $63,234 @ 7.0% cap · market cap 7.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.11M

$2.72M – $3.63M (±1% cap)

NOI $217,578 @ 7.0% cap · market cap 24.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Auto Parts Store Storage Facility Garden Center Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

95

Businesses Nearby

Explore this area Business Placement

Demographics for 15940, PA

3,712

Population

773

Households

4.8

Avg Household Size

33

Median Age

19%

College-Educated

90%

High-School Grad

24.4 sq mi

ZIP Area

152

Density / Sq Mi

$86,250

Median Household Income

$9,489

Median Earnings

$720

Median Rent

$236,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Two brick multifamily buildings with 10 total units and off-street blacktop parking for about seven to nine vehicles each.

Where is this apartment building located?

The property is located at 235 / 224 Saint Joseph St Loretto, PA.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Sold together: two multifamily buildings at 224 St. Mary St and 235 St. Joseph St in Loretto, PA; 10 total residential units total (5 units per building) on the Saint Francis University campus; St. Joseph building: approx. 5,712 SF with one 3BD/1.5BA unit and four 2BD/1.5BA units