Two-Story Flex
For Sale
$750,000
41 Terence Dr, Pittsburgh, PA 15236
M-1-zoned facility combining manufacturing space, private offices, conference space, and an open work area.
Property Size6,500 SF
Lot Size0.25 Acres
Price / SF$115.38
Days on Market289
Property Features for 41 Terence Dr
General Information
Standard status
Active
Size
6,500 SF
Lot size
0.25 Acres
Property subtype
Office
Zoning
M-1
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
2
Additional Details
Asking Price
$750,000
Outdoor Storage
Yes
Amenities
12 Parking Spaces.
0.68
County Road, US Highway.
Building Details
Buildings
1
Stories
2
Building Size
6,500 SF
Listing Agency:
HOWARD HANNA LANGHOLZ WILSON ELLIS
(412) 261-2200
Listed By:
Jay Phoebe · License #RS195720L
Source:
Xome
Added: Nov 16, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:02PM
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 LANGHOLZ WILSON ELLIS
Investment Insights
Based on property information with market context.
This approximately 6,500-square-foot, two-story flex facility combines manufacturing and light-assembly space on the first level with a substantial office component above. The upper floor includes five private offices, a conference room, kitchen area, and a large open bullpen. Building access includes two 7-foot drive-in doors positioned at opposite ends, plus a 9-foot dock-high door at the front.
The property is located on Terence Drive in Pittsburgh’s Pleasant Hills area, with County Road and US Highway access identified. Twelve parking spaces are provided. The site is zoned M-1 Manufacturing District, supporting the property’s industrial and office configuration. An adjacent lot is also described as available for additional parking, laydown, or storage use.
The property is located on Terence Drive in Pittsburgh’s Pleasant Hills area, with County Road and US Highway access identified. Twelve parking spaces are provided. The site is zoned M-1 Manufacturing District, supporting the property’s industrial and office configuration. An adjacent lot is also described as available for additional parking, laydown, or storage use.
Key Highlights
- Approximately 6,500 Sq Ft two‑story flex building
- M‑1 Manufacturing District zoning
- Two (2) 7‑Ft drive‑in doors on opposite ends of the building
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
$67,005
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
8.93%
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%
$1,340,100
$1.3M
Cap Rate 7%
$957,214
$957.2K
Cap Rate 9%
$744,500
$744.5K
Market Conditions
NOI Build-Up for 6,500 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
$101.4K $15.60/SF
− Vacancy
−$5.7K −$0.87/SF
EGI
$95.7K $14.73/SF
− OpEx
−$28.7K −$4.42/SF
NOI
$67.0K $10.31/SF
Area
ZIP 15236
Vacancy
5.60%
Lease Rate
$15.60 /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%
$1,340,100
Cap Rate 7%
$957,214
Cap Rate 9%
$744,500
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $83,035 @ 7.0% cap · market cap 11.07%
Second Best
Industrial
$957.2K
$837.6K – $1.12M
NOI $67,005 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,896 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15236, PA
31,594
Population
14,066
Households
2.2
Avg Household Size
44
Median Age
38%
College-Educated
93%
High-School Grad
10.7 sq mi
ZIP Area
2,953
Density / Sq Mi
$87,016
Median Household Income
$52,285
Median Earnings
$1,087
Median Rent
$224,200
Median Home Value
Market
Vacancy Rate% for Office in Pittsburgh, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Our Little Secret Cafe & Catering — 332 Curry Hollow Rd, Pittsburgh, PA 15236
Frequently Asked Questions
What type of property is this?
Flex space - M-1-zoned facility combining manufacturing space, private offices, conference space, and an open work area.
Where is this flex space located?
The property is located at 41 Terence Dr Pittsburgh, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 6,500 Sq Ft two‑story flex building; M‑1 Manufacturing District zoning; Two (2) 7‑Ft drive‑in doors on opposite ends of the building
