Brick Mixed-Use
New
For Sale
$275,000
3501 Walnut St, McKeesport, PA 15132
Restaurant space and a two-bedroom apartment occupy separate floors with independent utilities.
Property Size1,500 SF
Price / SF$183.33
Days on Market6
Property Features for 3501 Walnut St
General Information
Standard status
Active
Size
1,500 SF
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Floor
1
Seating Capacity
75
Taxes and HOA fees
Annual Taxes
$4,692
Building Details
Buildings
1
Stories
2
Construction
brick
Listing Agency:
HOWARD HANNA REAL ESTATE SERVICES
(412) 561-7400
Listed By:
Santino Merante
(412) 561-7400
Source:
Exprealty
Added: Aug 11
Changed: Aug 16
Last Checked: Aug 16 at 6:42AM
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 HOWARD HANNA REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This brick mixed-use property at 3501 Walnut St includes a restaurant on the first floor with seating for 75 and two restrooms. The second floor contains a two-bedroom apartment with separate utilities and approximately 1,500 sq. ft. of space.
Two lots are available with the property, identified as 464-R-35 and 464-R-38.
Two lots are available with the property, identified as 464-R-35 and 464-R-38.
Key Highlights
- Brick building with restaurant on the first floor
- First‑floor restaurant includes seating for 75
- Two restrooms serve the restaurant space
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
$15,188
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
5.52%
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%
$303,760
$303.8K
Cap Rate 7%
$216,971
$217.0K
Cap Rate 9%
$168,756
$168.8K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$2.7K −$1.80/SF
EGI
$24.3K $16.20/SF
− OpEx
−$9.1K −$6.07/SF
NOI
$15.2K $10.13/SF
Area
Allegheny County, PA
Vacancy
10.00%
Lease Rate
$18.00 /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%
$303,760
Cap Rate 7%
$216,971
Cap Rate 9%
$168,756
Alternative Uses
Best Use
Mixed Use
$217.0K
$189.9K – $253.1K
NOI $15,188 @ 7.0% cap · market cap 5.52%
Second Best
Specialty Retail
$212.5K
$186.0K – $248.0K
NOI $14,877 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$382.1K
$334.3K – $445.8K
NOI $26,745 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
100k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 33%
Dining 23%
Apparel 2%
McDonald's
Dining
19,834 visits/mo
0.4 miles
Aldi
Groceries
17,737 visits/mo
0.1 miles
Ollie's Bargain Outlet
Shops & Services
12,404 visits/mo
0.3 miles
Shop 'n Save
Groceries
10,298 visits/mo
0.4 miles
Dollar Tree
Shops & Services
10,210 visits/mo
0.5 miles
Demographics for 15132, PA
19,418
Population
10,511
Households
1.8
Avg Household Size
42
Median Age
12%
College-Educated
87%
High-School Grad
5.6 sq mi
ZIP Area
3,468
Density / Sq Mi
$32,170
Median Household Income
$29,827
Median Earnings
$791
Median Rent
$71,300
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?
Mixed-use property - Restaurant space and a two-bedroom apartment occupy separate floors with independent utilities.
Where is this mixed-use property located?
The property is located at 3501 Walnut St McKeesport, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Brick building with restaurant on the first floor; First‑floor restaurant includes seating for 75; Two restrooms serve the restaurant space
