Four-Bay Auto Shop
For Sale
$899,000
2473 N Center Ave, Somerset, PA 15501
Commercial Sale, Somerset, PA
Property Size6,000 SF
Lot Size6.34 Acres
Price / SF$149.83
Days on Market138
Property Features for 2473 N Center Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Not Zoned
Elementary school district
Somerset Area
Middle school district
Somerset Area
High school district
Somerset Area
Directions
Traveling in Somerset travel on N Center Ave. Continue North passing 219 interchange and Walmart entrance. Property appx 1/2 mile ahead on left.
Subdivision
Lincoln Twp-S24
Standard status
Active
APN
S24-008-042-00
Lot size
6.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DBV 1124 /47
Tax Annual Amount
6170
Legal Description
DBV 1124 /47
Amenities
office space
break room
Building Details
Floors in Building
1
Listing Agency:
REALTY ONE GROUP LANDMARK SOMERSET
(814) 483-8467
Listed By:
Lee Hoffman · License #RS319190
(814) 279-1733
Added: Apr 7
Changed: Aug 19
Last Checked: Aug 22 at 12:06AM
MLS# 96041353
Copyright © 2026 Cambria Somerset Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 2473 N Center Ave in Somerset, PA, this 6,000-square-foot commercial building is currently used for a high-performance automotive business. The facility includes a four-bay garage, office areas, and a break room, providing a functional layout for automotive operations or other commercial uses supported by the existing improvements.
The property encompasses 6.342 acres, with land extending behind the building. That rear portion is mainly level and currently serves as additional parking. The parcel is identified as not zoned, and the building’s existing configuration combines service-bay space with administrative and employee areas.
The property encompasses 6.342 acres, with land extending behind the building. That rear portion is mainly level and currently serves as additional parking. The parcel is identified as not zoned, and the building’s existing configuration combines service-bay space with administrative and employee areas.
Key Highlights
- 6,000 SF commercial building
- Four‑bay garage configuration
- 6.342‑acre parcel
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
$35,009
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
3.89%
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%
$700,180
$700.2K
Cap Rate 7%
$500,129
$500.1K
Cap Rate 9%
$388,989
$389.0K
Market Conditions
NOI Build-Up for 6,000 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
$53.0K $8.83/SF
− Vacancy
−$3.0K −$0.49/SF
EGI
$50.0K $8.34/SF
− OpEx
−$15.0K −$2.50/SF
NOI
$35.0K $5.83/SF
Area
Somerset County, PA
Vacancy
5.60%
Lease Rate
$8.83 /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%
$700,180
Cap Rate 7%
$500,129
Cap Rate 9%
$388,989
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.14M
NOI $128,512 @ 7.0% cap · market cap 14.29%
Second Best
Industrial
$500.1K
$437.6K – $583.5K
NOI $35,009 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,056 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15501, PA
16,277
Population
7,656
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
89%
High-School Grad
132.0 sq mi
ZIP Area
123
Density / Sq Mi
$55,797
Median Household Income
$35,311
Median Earnings
$731
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Auto shop - Currently configured for automotive operations with office and break-room areas.
Where is this auto shop located?
The property is located at 2473 N Center Ave Somerset, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 6,000 SF commercial building; Four‑bay garage configuration; 6.342‑acre parcel
