Four-Bay Automotive
For Sale
$899,000
2473 N Center Avenue, Somerset, PA 15501
CommercialSale, Somerset, PA
Property Size6,000 SF
Lot Size6.34 Acres
Price / SF$149.83
Days on Market152
Property Features for 2473 N Center Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
NZ
Zoning description
NZ
Parking
20
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
Standard status
Active
Lot size
6.34 Acres
Taxes and HOA fees
Tax Annual Amount
6170
Amenities
office space
break room areas
Building Details
Year built
1991
Listing Agency:
REALTY ONE GROUP LANDMARK
(814) 483-8467
Listed By:
Lee Hoffman · License #RS319190
(814) 290-7564
Added: Apr 6
Changed: Sep 4
Last Checked: Sep 4 at 9:06PM
MLS# 1746837
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.
Investment Insights
Based on property information with market context.
Located at 2473 N Center Avenue in Somerset, Pennsylvania, this 6,000-square-foot automotive facility is configured for vehicle service operations. The 1991 building includes four garage bays, office space, and a break room, and is currently used by a high-performance automotive business.
The property is zoned NZ and includes land extending behind the building. That rear area is mainly level and currently functions as additional parking. The existing layout combines service capacity with dedicated administrative and staff areas, while the building’s current automotive use provides a clear operating framework for the site.
The property is zoned NZ and includes land extending behind the building. That rear area is mainly level and currently functions as additional parking. The existing layout combines service capacity with dedicated administrative and staff areas, while the building’s current automotive use provides a clear operating framework for the site.
Key Highlights
- 6,000‑square‑foot automotive facility
- Four‑bay garage building
- Office space and break room included
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
Turnkey business
Opportunity
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 - Automotive facility with service bays, office space, a break room, and rear parking area.
Where is this auto shop located?
The property is located at 2473 N Center Avenue 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‑square‑foot automotive facility; Four‑bay garage building; Office space and break room included
