Retail Space For
For Sale
Contact for pricing
Pending
2515 Banksville Rd, Pittsburgh, PA 15216
Retail space available with a 4.85% CAP rate.
Property Size23,884 SF
Days on Market189
Property Features for 2515 Banksville Rd
General Information
Standard status
Pending
Size
23,884 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$429,912
Building Details
Year Built
2005
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Marcus & Millichap - Columbus
Listed By:
Craig Fuller · License #OH 2008001551
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 10 at 11:32AM
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 Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
This retail space offers 23,884 square feet of area. The property is being offered for sale and has a capitalization rate of 4.85%.
Key Highlights
- 23,884 SqFt Retail Space
- 4.85% CAP Rate
- Built in 2005
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
$278,368
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
3.30%
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%
$5,567,360
$5.6M
Cap Rate 7%
$3,976,686
$4.0M
Cap Rate 9%
$3,092,978
$3.1M
Market Conditions
NOI Build-Up for 23,884 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
$429.9K $18.00/SF
− Vacancy
−$32.2K −$1.35/SF
EGI
$397.7K $16.65/SF
− OpEx
−$119.3K −$5.00/SF
NOI
$278.4K $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%
$5,567,360
Cap Rate 7%
$3,976,686
Cap Rate 9%
$3,092,978
Alternative Uses
Best Use
Retail
$3.98M
$3.48M – $4.64M
NOI $278,368 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.61M
$6.66M – $8.87M
NOI $532,458 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 15216, PA
22,966
Population
11,194
Households
2.1
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
6,755
Density / Sq Mi
$81,542
Median Household Income
$48,674
Median Earnings
$1,078
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Retail in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available with a 4.85% CAP rate.
Where is this retail space located?
The property is located at 2515 Banksville Rd Pittsburgh, PA.
What is the asking price?
The asking price for this property is $8,429,647.
What are key features of this property?
This property features: 23,884 SqFt Retail Space; 4.85% CAP Rate; Built in 2005
