Strip Mall Anchored by
3479 Babcock Boulevard, Pittsburgh, PA 15237
For Sale
Contact for pricing
The 1998-built property has leases with Sherwin-Williams and North Hills Kitchen & Bath.
Property Size6,200 SF
Price / SF$217.74
Days on Market98
Property Features for 3479 Babcock Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Additional Details
Anchor Co-Tenants
Building Details
Year Built
Units
Tenancy
Listing Agency:
Sands Investment Group
Listed By:
Gary Berwick · License #NC 312724
(980) 729-5648
Source:
Crexi
Added: Aug 3
Changed: Nov 1
Last Checked: Nov 8 at 6:29AM
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 Sands Investment Group
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Investment Insights
Based on property information with market context.
This 6,200-square-foot strip mall was built in 1998 and includes Sherwin-Williams as its anchor tenant. Sherwin-Williams has occupied the property since 1997 under a lease extending through 2029, with a negotiated renewal option continuing through 2034.
North Hills Kitchen & Bath is also secured by a recently executed long-term lease that includes annual rent escalations. The property is located at 3479 Babcock Boulevard in Pittsburgh, Pennsylvania, and is offered for sale.
North Hills Kitchen & Bath is also secured by a recently executed long-term lease that includes annual rent escalations. The property is located at 3479 Babcock Boulevard in Pittsburgh, Pennsylvania, and is offered for sale.
Key Highlights
- 6,200 SF strip mall anchored by Sherwin‑Williams
- Sherwin‑Williams occupancy dates to 1997
- Sherwin‑Williams lease runs through 2029 with renewal option through 2034
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,870
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,400
$1.4M
Cap Rate 7%
$1,026,714
$1.0M
Cap Rate 9%
$798,556
$798.6K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$111.6K $18.00/SF
− Vacancy
−$8.9K −$1.44/SF
EGI
$102.7K $16.56/SF
− OpEx
−$30.8K −$4.97/SF
NOI
$71.9K $11.59/SF
Area
ZIP 15237
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,400
Cap Rate 7%
$1,026,714
Cap Rate 9%
$798,556
Alternative Uses
Best Use
Retail
$1.03M
$898.4K – $1.20M
NOI $71,870 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,220 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
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Business Placement
Demographics for 15237, PA
45,670
Population
19,332
Households
2.4
Avg Household Size
43
Median Age
58%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,895
Density / Sq Mi
$108,538
Median Household Income
$64,006
Median Earnings
$1,327
Median Rent
$306,900
Median Home Value
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Market
Vacancy Rate% for Retail in Pittsburgh, PA
Frequently Asked Questions
What type of property is this?
Strip mall - The 1998-built property has leases with Sherwin-Williams and North Hills Kitchen & Bath.
Where is this strip mall located?
The property is located at 3479 Babcock Boulevard Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 6,200 SF strip mall anchored by Sherwin‑Williams; Sherwin‑Williams occupancy dates to 1997; Sherwin‑Williams lease runs through 2029 with renewal option through 2034
