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 9 Last Checked: Sep 10 at 12:06PM

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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.

This mixed-use property comprises two commercial buildings with a combined gross area of approximately 8,226 square feet. The primary structure contains approximately 5,540 square feet across two stories, with first-floor office improvements including an open work area, five private offices, and restrooms. Its second floor includes a two-bedroom apartment with living, kitchen, dining, enclosed patio, and bathroom areas. The lower level provides approximately 2,000 square feet for automotive detailing, along with additional garage and storage space. Overhead drive-in doors serve the lower-level garage areas.

A detached, one-story commercial garage adds approximately 2,686 square feet of open space, restrooms, and attached storage. The property has approximately 465+/- feet of frontage along Wendel Road and approximately 40+/- gravel and asphalt parking spaces positioned around the buildings. Separate electrical systems serve each structure, with oil-fired forced-air heating throughout.

Key Highlights

• Two buildings provide approximately 8,226 square feet of total gross building area
• Approximately 465+/- feet of frontage along Wendel Road
• Primary building includes office space, a two‑bedroom apartment, and automotive detailing areas

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

Office buildings

Suggested Use

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

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 combine office, residential, detailing, garage, storage, and open commercial areas.

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 provide approximately 8,226 square feet of total gross building area; Approximately 465+/- feet of frontage along Wendel Road; Primary building includes office space, a two‑bedroom apartment, and automotive detailing areas