North Side Redevelopment
For Sale
Contact for pricing
4072 Franklin Rd, Pittsburgh, PA 15214
Unique property with school building and residential income potential.
Property Size3,600 SF
Price / SF$152.75
Days on Market193
Property Features for 4072 Franklin Rd
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Retail
Zoning
R1D-L
Building Details
Year Built
1875
Listing Agency:
Arbors Management, Inc
(412) 521-2222
Listed By:
Trey Keebler · License #RS 351874
Source:
Crexi
Added: Jan 30
Changed: Aug 8
Last Checked: Aug 9 at 3:16PM
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 Arbors Management, Inc
Investment Insights
Based on property information with market context.
This North Side property offers character, flexibility, and income potential. It includes a former school building with neighborhood history, presenting an opportunity for creative reuse or redevelopment, subject to zoning and approvals. Also on the lot is an approximately 3,600 sq ft residence with 6 bedrooms and 5 baths, featuring suite-style living in five of the bedrooms, each with a private bath and living space. The residence is currently utilized as a short-term rental and is suited for extended-stay guests. The property is located minutes from Downtown Pittsburgh, major hospitals, universities, and cultural districts, benefiting from proximity to medical and academic corridors while remaining connected to the North Side community. This property blends architectural character, existing residential use, and future potential in a highly accessible city location.
Key Highlights
- Income‑generating 6‑bedroom, 5‑bath residence with suite‑style living, currently used as a short‑term rental.
- Prime location minutes from Downtown Pittsburgh, hospitals, universities, and cultural districts.
- Former school building offers exceptional opportunity for creative reuse or redevelopment (subject to zoning and approvals).
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
$37,968
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
6.90%
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%
$759,360
$759.4K
Cap Rate 7%
$542,400
$542.4K
Cap Rate 9%
$421,867
$421.9K
Market Conditions
NOI Build-Up for 3,600 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
$73.4K $20.40/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$69.0K $19.18/SF
− OpEx
−$31.1K −$8.63/SF
NOI
$38.0K $10.55/SF
Area
Pittsburgh, PA
Vacancy
6.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$759,360
Cap Rate 7%
$542,400
Cap Rate 9%
$421,867
Alternative Uses
Best Use
Apartment 5plus
$542.4K
$474.6K – $632.8K
NOI $37,968 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,257 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Demographics for 15214, PA
14,072
Population
6,914
Households
2
Avg Household Size
38
Median Age
29%
College-Educated
93%
High-School Grad
4.6 sq mi
ZIP Area
3,059
Density / Sq Mi
$59,979
Median Household Income
$43,032
Median Earnings
$1,054
Median Rent
$173,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
School - Unique property with school building and residential income potential.
Where is this school located?
The property is located at 4072 Franklin Rd Pittsburgh, PA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Income‑generating 6‑bedroom, 5‑bath residence with suite‑style living, currently used as a short‑term rental.; Prime location minutes from Downtown Pittsburgh, hospitals, universities, and cultural districts.; Former school building offers exceptional opportunity for creative reuse or redevelopment (subject to zoning and approvals).
