Two-Level Flex
New
For Sale
Contact for pricing
504 E 8th Ave, Homestead, PA 15120
Includes retail and kitchen space below an office and warehouse area.
Property Size5,942 SF
Price / SF$66.48
Days on Market5
Property Features for 504 E 8th Ave
General Information
Standard status
Active
Size
5,942 SF
Property subtype
RETAIL
Additional Details
Utilities to Site
Yes
Building Details
Stories
2
Listing Agency:
SVN | Three Rivers Commercial Advisors
(724) 991-5559
Listed By:
Chase Takacs · License ##RS317489
(724) 991-5559
Source:
Moodyscre
Added: Aug 13
Changed: Aug 15
Last Checked: Aug 17 at 11:13AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
This 5,942-square-foot flex property combines retail and kitchen space on the first floor with office and warehouse space above. The ground-floor area is leased to a catering company, while the upper level provides a separate commercial configuration for office and storage-oriented functions. Utilities are paid by the tenant.
The property is located along East 8th Avenue, less than 1 mile and a 5-minute drive from the Waterfront. Its two-level arrangement brings retail, kitchen, office, and warehouse components together within one building.
The property is located along East 8th Avenue, less than 1 mile and a 5-minute drive from the Waterfront. Its two-level arrangement brings retail, kitchen, office, and warehouse components together within one building.
Key Highlights
- 5,942‑square‑foot flex property with two levels
- First‑floor retail and kitchen space leased to a catering company
- Second‑floor office and warehouse area
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
$31,701
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
8.03%
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%
$634,020
$634.0K
Cap Rate 7%
$452,871
$452.9K
Cap Rate 9%
$352,233
$352.2K
Market Conditions
NOI Build-Up for 5,942 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
$48.5K $8.16/SF
− Vacancy
−$3.2K −$0.54/SF
EGI
$45.3K $7.62/SF
− OpEx
−$13.6K −$2.29/SF
NOI
$31.7K $5.34/SF
Area
Allegheny County, PA
Vacancy
6.60%
Lease Rate
$8.16 /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%
$634,020
Cap Rate 7%
$452,871
Cap Rate 9%
$352,233
Alternative Uses
Best Use
Office B
$1.08M
$948.8K – $1.27M
NOI $75,907 @ 7.0% cap · market cap 19.22%
Second Best
Retail
$989.3K
$865.7K – $1.15M
NOI $69,254 @ 7.0% cap · market cap 17.53%
Theoretical Best
Office A
$1.51M
$1.32M – $1.77M
NOI $105,946 @ 7.0% cap · market cap 26.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15120, PA
17,950
Population
9,514
Households
1.9
Avg Household Size
44
Median Age
27%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
3,819
Density / Sq Mi
$55,205
Median Household Income
$44,943
Median Earnings
$835
Median Rent
$118,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Includes retail and kitchen space below an office and warehouse area.
Where is this flex space located?
The property is located at 504 E 8th Ave Homestead, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 5,942‑square‑foot flex property with two levels; First‑floor retail and kitchen space leased to a catering company; Second‑floor office and warehouse area
