Former Bank in Retail
For Sale
$1,100,000
2640 Monroeville Blvd, Monroeville, PA 15146
9,108 SF former bank with drive-thru and ample parking.
Property Size9,108 SF
Price / SF$120.77
Days on Market163
Property Features for 2640 Monroeville Blvd
General Information
Standard status
Active
Size
9,108 SF
Class
B
Property subtype
Office
Building Details
Building Size
9,108 SF
Listing Agency:
SVN | Three Rivers Commercial Advisors
(412) 298-2236
Listed By:
Richard L. Beynon · License #PA #AB068671
(412) 298-2236
Source:
Svn
Added: Mar 6
Changed: Aug 10
Last Checked: Aug 16 at 3:35AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
The property at 2640 Monroeville Blvd in Monroeville, PA, is a former bank building consisting of 9,108 square feet over two floors. It is strategically situated in a high-traffic retail corridor and includes a drive-thru. The site provides ample parking with 40 surface spaces. The property has 224 feet of frontage on Monroeville Blvd, offering visibility and accessibility. The roof was replaced in 2019. This property is suitable for retail investors.
Key Highlights
- High‑traffic location in a retail corridor
- Ample parking with 40 surface spaces
- Exceptional visibility with 224 feet of frontage on Monroeville Blvd
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
$90,333
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
8.21%
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%
$1,806,660
$1.8M
Cap Rate 7%
$1,290,471
$1.3M
Cap Rate 9%
$1,003,700
$1.0M
Market Conditions
NOI Build-Up for 9,108 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
$126.8K $13.92/SF
− Vacancy
−$6.3K −$0.70/SF
EGI
$120.4K $13.22/SF
− OpEx
−$30.1K −$3.31/SF
NOI
$90.3K $9.92/SF
Area
Allegheny County, PA
Vacancy
5.00%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
25.00%
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%
$1,806,660
Cap Rate 7%
$1,290,471
Cap Rate 9%
$1,003,700
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.77M
NOI $106,154 @ 7.0% cap · market cap 9.65%
Second Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,333 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,396 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
648k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Superstores 17%
Shops & Services 16%
Groceries 15%
Target
Superstores
113,353 visits/mo
0.3 miles
Chick-fil-A
Dining
70,528 visits/mo
0.4 miles
Giant Eagle Supermarket
Groceries
68,088 visits/mo
0.4 miles
Five Below
Shops & Services
38,290 visits/mo
0.4 miles
Aldi
Groceries
31,105 visits/mo
0.2 miles
Demographics for 15146, PA
28,672
Population
13,508
Households
2.1
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
19.6 sq mi
ZIP Area
1,463
Density / Sq Mi
$78,295
Median Household Income
$48,073
Median Earnings
$1,163
Median Rent
$197,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - 9,108 SF former bank with drive-thru and ample parking.
Where is this bank located?
The property is located at 2640 Monroeville Blvd Monroeville, PA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High‑traffic location in a retail corridor; Ample parking with 40 surface spaces; Exceptional visibility with 224 feet of frontage on Monroeville Blvd
