Building Details

Building materials Frame, Concrete

Listing Agency: CENTURY 21 FAIRWAYS REAL ESTATE · Century 21 Real Estate Show Phone

Listed By: Susan Gill/ Dan Lyons · License #RM423921 Show Phone

Added: Jan 29 Changed: Sep 24 Last Checked: Sep 24 at 9:06PM

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MLS# 1738439

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.

The property comprises two buildings with a combined gross area of approximately 8,226 square feet. The 5,540-square-foot primary structure has office space on the first floor, including an open work area, five private offices, and restrooms. Its second floor contains a two-bedroom apartment with living, kitchen, dining, and enclosed patio areas. About 2,000 square feet of the lower level is dedicated to automotive detailing, with additional garage and storage space. A detached, one-story 2,686-square-foot concrete block building offers open commercial space, restrooms, and attached storage.

The site consists of two contiguous tax parcels along Wendel Road, with approximately 465+/- feet of road frontage. Approximately 40+/- gravel and asphalt parking spaces are positioned around the buildings. The terrain is generally level by the road and slopes toward the rear; the site is estimated to be 85% usable.

The buildings have separate electrical systems and oil-fired forced-air heating. The primary building is a frame structure with vinyl siding, a pitched composition shingle roof, and multi-pane windows. Its lower-level garage areas use concrete block construction and overhead drive-in doors; the detached garage also has concrete block construction and a flat roof.

Key Highlights

• Two buildings total approximately 8,226 square feet
• Primary building includes 5,540 square feet, with office, apartment, detailing, garage, and storage areas
• Detached one‑story commercial garage contains 2,686 square feet

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

$42,855

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

8.57%

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%

$857,100 $857.1K

Cap Rate 7%

$612,214 $612.2K

Cap Rate 9%

$476,167 $476.2K

Market Conditions

NOI Build-Up for 8,226 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

$72.6K $8.83/SF

− Vacancy

−$4.1K −$0.49/SF

EGI

$68.6K $8.34/SF

− OpEx

−$25.7K −$3.13/SF

NOI

$42.9K $5.21/SF

Area

Westmoreland County, PA

Vacancy

5.60%

Lease Rate

$8.83 /SF/Yr

Expense Ratio

37.50%

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%

$857,100

Cap Rate 7%

$612,214

Cap Rate 9%

$476,167

Alternative Uses

Best Use

Office B

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $105,084 @ 7.0% cap · market cap 21.02%

Second Best

Retail

$1.35M

$1.19M – $1.58M (±1% cap)

NOI $94,838 @ 7.0% cap · market cap 18.97%

Theoretical Best

Office A

$2.10M

$1.83M – $2.44M (±1% cap)

NOI $146,670 @ 7.0% cap · market cap 29.34%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Law Firm Spa & Massage Center Hair Salon Building Supply Auto Repair Shop Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

48

Businesses Nearby

Explore this area Business Placement

Demographics for 15642, PA

46,461

Population

20,299

Households

2.3

Avg Household Size

46

Median Age

41%

College-Educated

98%

High-School Grad

46.0 sq mi

ZIP Area

1,010

Density / Sq Mi

$92,975

Median Household Income

$55,961

Median Earnings

$960

Median Rent

$236,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two buildings provide office, apartment, automotive detailing, garage, and storage areas on a shared site.

Where is this mixed-use property located?

The property is located at 348 Wendel Irwin, PA.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Two buildings total approximately 8,226 square feet; Primary building includes 5,540 square feet, with office, apartment, detailing, garage, and storage areas; Detached one‑story commercial garage contains 2,686 square feet