Corner Retail/Office with
For Sale
$375,000
2351 Saw Mill Run Blvd, Pittsburgh, PA 15210
Retail/office space with one drive-in door on a lot permitted for office and car sales.
Property Size1,400 SF
Lot Size0.22 Acres
Price / SF$267.86
Days on Market372
Property Features for 2351 Saw Mill Run Blvd
General Information
Standard status
Active
Size
1,400 SF
Lot size
0.22 Acres
Property subtype
Retail
Additional Details
Drive-In Doors
1
Amenities
10 Parking Spaces.
0.2183
City Road, County Road.
Listing Agency:
HOWARD HANNA LANGHOLZ WILSON ELLIS
(412) 261-2200
Listed By:
Jay Phoebe · License #RS195720L
(412) 952-6656
Source:
Xome
Added: Aug 30, 2025
Changed: Sep 1
Last Checked: Sep 5 at 3:43AM
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 HOWARD HANNA LANGHOLZ WILSON ELLIS
Investment Insights
Based on property information with market context.
This retail/office property is located at a signalized corner of Rt 51 and Overbrook Road in the 32nd Ward of the City of Pittsburgh. The offering includes approximately 1,400 square feet of retail and office space, along with one drive-in door for accessible operations.
The property sits on a lot of approximately 9,500 square feet. A current occupancy permit is on file with the City of Pittsburgh for office use and a car sales lot, supporting use as an automotive sales location alongside the office component.
The configuration combines customer-facing retail/office space with drive-in access and a permitted car sales lot area, offering a straightforward setup for businesses that need both front-facing space and vehicle accommodation.
The property sits on a lot of approximately 9,500 square feet. A current occupancy permit is on file with the City of Pittsburgh for office use and a car sales lot, supporting use as an automotive sales location alongside the office component.
The configuration combines customer-facing retail/office space with drive-in access and a permitted car sales lot area, offering a straightforward setup for businesses that need both front-facing space and vehicle accommodation.
Key Highlights
- +/- 1,400 SF retail/office space with one drive‑in door
- Signalized corner location on Rt 51 and Overbrook Road (32nd Ward, City of Pittsburgh)
- 9,500 SF lot permitted for office and car sales
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
$16,317
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
4.35%
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%
$326,340
$326.3K
Cap Rate 7%
$233,100
$233.1K
Cap Rate 9%
$181,300
$181.3K
Market Conditions
NOI Build-Up for 1,400 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
$25.2K $18.00/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$23.3K $16.65/SF
− OpEx
−$7.0K −$5.00/SF
NOI
$16.3K $11.66/SF
Area
Pittsburgh, PA
Vacancy
7.50%
Lease Rate
$18.00 /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%
$326,340
Cap Rate 7%
$233,100
Cap Rate 9%
$181,300
Alternative Uses
Best Use
Retail
$233.1K
$204.0K – $272.0K
NOI $16,317 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$445.9K
$390.1K – $520.2K
NOI $31,211 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15210, PA
25,123
Population
12,828
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
5,345
Density / Sq Mi
$50,845
Median Household Income
$35,050
Median Earnings
$994
Median Rent
$91,800
Median Home Value
Market
Vacancy Rate% for Retail in Pittsburgh, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Retail/office space with one drive-in door on a lot permitted for office and car sales.
Where is this storefront property located?
The property is located at 2351 Saw Mill Run Blvd Pittsburgh, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: +/- 1,400 SF retail/office space with one drive‑in door; Signalized corner location on Rt 51 and Overbrook Road (32nd Ward, City of Pittsburgh); 9,500 SF lot permitted for office and car sales
