Multifamily Apartment Building For
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321 Grove City Rd, Slippery Rock, PA 16057
Turnkey 17-unit apartment building with stabilized income and upside.
Property Size11,500 SF
Price / SF$118.26
Days on Market154
Property Features for 321 Grove City Rd
General Information
Standard status
Active
Size
11,500 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$108,874
Building Details
Year Built
2006
Buildings
1
Stories
3
Units
17
Listing Agency:
Berkshire Hathaway HomeServices The Preferred Realty Butler
(724) 282-1313
Listed By:
Amanda Shingleton · License #rs328714
Source:
Crexi
Added: Mar 13
Changed: Aug 8
Last Checked: Aug 12 at 11:45AM
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 Berkshire Hathaway HomeServices The Preferred Realty Butler
Investment Insights
Based on property information with market context.
The multifamily apartment building, constructed in 2006, is located just outside Slippery Rock, PA. This turnkey investment property comprises 17 units: 5 single-bedroom units, 11 two-bedroom units, and 1 four-bedroom unit. The property has a total size of 11,500 square feet and maintains 100% occupancy with quality tenants. The property is not student housing and offers stabilized income with potential for value addition.
Key Highlights
- Turnkey investment property built in 2006.
- Stabilized income from day one with 100% occupancy.
- Attractive mix of unit types: 5 one‑bedroom, 11 two‑bedroom, and 1 four‑bedroom.
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
$101,361
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
7.45%
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%
$2,027,220
$2.0M
Cap Rate 7%
$1,448,014
$1.4M
Cap Rate 9%
$1,126,233
$1.1M
Market Conditions
NOI Build-Up for 11,500 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
$200.1K $17.40/SF
− Vacancy
−$15.8K −$1.37/SF
EGI
$184.3K $16.03/SF
− OpEx
−$82.9K −$7.21/SF
NOI
$101.4K $8.81/SF
Area
Butler County, PA
Vacancy
7.90%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,027,220
Cap Rate 7%
$1,448,014
Cap Rate 9%
$1,126,233
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,361 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.56M – $3.42M
NOI $205,046 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 16057, PA
14,327
Population
6,171
Households
2.3
Avg Household Size
29
Median Age
28%
College-Educated
96%
High-School Grad
88.7 sq mi
ZIP Area
162
Density / Sq Mi
$56,285
Median Household Income
$16,957
Median Earnings
$858
Median Rent
$242,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 17-unit apartment building with stabilized income and upside.
Where is this apartment building located?
The property is located at 321 Grove City Rd Slippery Rock, PA.
What is the asking price?
The asking price for this property is $1,360,000.
What are key features of this property?
This property features: Turnkey investment property built in 2006.; Stabilized income from day one with 100% occupancy.; Attractive mix of unit types: 5 one‑bedroom, 11 two‑bedroom, and 1 four‑bedroom.
