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    Two-Story Mixed-Use Brick Building Title is generated by Realmo AI

    235 S Broad St, Grove City, PA 16127

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    For Sale
    $695,000

    Retail - Grove City Boro, PA

    Type:Retail
    Lot size:
    0.11 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 235 S Broad St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Com
    Parking
    5
    Standard status
    Active
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3500

    Building Details

    Year built
    1920
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Lucy Wann

    Listing agent Lucy Wann

    Listing office COLDWELL BANKER REALTY 20510 Route 19, Pittsburgh, PA

    Listing date Jun 3, 2026

    MLS# 1757840 Listing URL

    Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑story brick mixed‑use building built in 1920 with street‑level and second‑floor living space
    • Street‑level space features an open floor plan, massive windows, hardwood floors, and 13’ high tin ceilings
    • Street level includes a custom galley kitchen with recycled quartz countertops plus 1 full bath and 1 half bath
    • Second level offers a New York‑style loft with two bedrooms, 1 full bath, high‑end finishes, and a custom chef’s kitchen with recycled quartz countertops
    • Electrical updated; includes a 3‑car garage, 2 private rear parking spaces, and ample street parking
    • Bonus hand‑cranked elevator (2,000 lb capacity), full basement for storage, and new rooftop patio

    Overview

    Set on a compact lot, this two-story brick mixed-use building offers a flexible street-level layout and a separately accessed upper residence. The first floor features an open floor plan with massive windows, beautiful hardwood floors, and 13’ high tin ceilings, supported by modern lighting throughout. Interior improvements include updated electrical, a custom galley kitchen with recycled quartz countertops, and a full bath plus an additional 1/2 bath. A full basement provides storage, and a bonus hand-cranked elevator with a 2,000 lb capacity services the building. Completing the property are a 3-car garage and two private rear parking spaces.

    The second level is a luxury loft-style living space with two bedrooms and one full bath, high-end finishes, recessed lighting, ceiling fans, new windows, ample closets, and hardwood flooring. It includes a custom chef’s kitchen with recycled quartz countertops and a full laundry room. A rooftop patio adds an open-air amenity, while a private, separate entrance and parking support privacy and security.

    Well-suited for an owner-operator or an investor seeking income, the ground floor can accommodate uses such as a cafe/restaurant, professional office, boutique, retail, or studio, while the upper floor offers comfortable, contemporary living. Located in downtown Grove City with steady foot traffic from neighboring businesses and Grove City College, the property also provides easy access to major commuting routes near I-79 and I-80, positioned between Pittsburgh and Erie.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grove City
    County
    Mercer
    State
    Pennsylvania
    Longitude
    -80.086965
    Latitude
    41.158714

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    FAQs

    What type of property is this?
    Mixed-use property - Street-level retail with high ceilings and windows pairs with a luxury loft-style residence and private parking for dual-income potential.
    Where is this mixed-use property located?
    The property is located at 235 S Broad St Grove City, PA.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Two‑story brick mixed‑use building built in 1920 with street‑level and second‑floor living space; Street‑level space features an open floor plan, massive windows, hardwood floors, and 13’ high tin ceilings; Street level includes a custom galley kitchen with recycled quartz countertops plus 1 full bath and 1 half bath
    (724) 776-2900
    We can help!
    Listing Contact
    Lucy Wann
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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