Versatile Mixed-Use Property in
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3621 Mexico St, Pittsburgh, PA 15212
Adaptable 4,500 SF property near California Ave, Pittsburgh.
Property Size4,500 SF
Lot Size0.21 Acres
Price / SF$72.22
Days on Market833
Property Features for 3621 Mexico St
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.21 Acres
Property subtype
Industrial, Mixed Use, Self Storage, Special Purpose
Zoning
LNC
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Guardian Realty Solutions, Llc
(412) 829-0900
Listed By:
Christina Bucciero · License #PA RM423313
Source:
Crexi
Added: May 22, 2024
Changed: Aug 27
Last Checked: Aug 29 at 6:31AM
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 Guardian Realty Solutions, Llc
Investment Insights
Based on property information with market context.
This mixed-use property, offering approximately 4,500 square feet of space, is situated on a 0.207-acre parcel located just one block from California Avenue. The property is in shell condition with all utilities available on site, presenting an opportunity for transformation. The building features a two-story front section and a one-story rear section. It is well-positioned to benefit from the growth of the Brighton Heights area, located on the fringe of the City of Pittsburgh. This property is suitable for live/work arrangements, artists, workshops, or storage, offering many options for potential use.
Key Highlights
- Approx. 4,500 SF of space provides ample room for various uses.
- Located one block off California Ave, offering convenient access.
- Suitable for live/work, artist studio, workshop, or storage, providing flexibility.
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
$25,416
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
7.82%
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%
$508,320
$508.3K
Cap Rate 7%
$363,086
$363.1K
Cap Rate 9%
$282,400
$282.4K
Market Conditions
NOI Build-Up for 4,500 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
$38.3K $8.52/SF
− Vacancy
−$2.0K −$0.45/SF
EGI
$36.3K $8.07/SF
− OpEx
−$10.9K −$2.42/SF
NOI
$25.4K $5.65/SF
Area
Pittsburgh, PA
Vacancy
5.30%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
30.00%
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%
$508,320
Cap Rate 7%
$363,086
Cap Rate 9%
$282,400
Alternative Uses
Best Use
Office B
$821.2K
$718.6K – $958.1K
NOI $57,486 @ 7.0% cap · market cap 17.69%
Second Best
Mixed Use
$717.4K
$627.8K – $837.0K
NOI $50,220 @ 7.0% cap · market cap 15.45%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,321 @ 7.0% cap · market cap 30.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 15212, PA
27,016
Population
15,937
Households
1.7
Avg Household Size
38
Median Age
37%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,658
Density / Sq Mi
$61,712
Median Household Income
$45,325
Median Earnings
$1,114
Median Rent
$167,200
Median Home Value
Market
Vacancy Rate% for Office in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Adaptable 4,500 SF property near California Ave, Pittsburgh.
Where is this mixed-use property located?
The property is located at 3621 Mexico St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approx. 4,500 SF of space provides ample room for various uses.; Located one block off California Ave, offering convenient access.; Suitable for live/work, artist studio, workshop, or storage, providing flexibility.
