Two-Story Commercial Building in
For Sale
Contact for pricing
507-509 Tripoli Street, Pittsburgh, PA 15212
6,400 SF commercial building suitable for owner-user or adaptive reuse.
Property Size6,400 SF
Price / SF$78.13
Days on Market159
Property Features for 507-509 Tripoli Street
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Retail, Industrial
Zoning
R1A-VH (Single Unit Attached Residential – Very High Density)
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
SVN | Three Rivers Commercial Advisors
(412) 352-8754
Listed By:
Nathan Pazsint · License #PA RS339099
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 10 at 8:42AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
The property at 507-509 Tripoli Street is a two-story commercial building with approximately 6,400 square feet, located in Pittsburgh’s East Deutschtown neighborhood. Each floor offers approximately 3,200 square feet. The ground level is currently configured as a working sign shop, featuring an open shop space and dual drive-in garage access at both the front and rear, making it suitable for fabrication, contractor services, or light industrial applications. The second floor includes multiple private offices, a large front open or event area, and a commercial kitchen equipped with a hood and ANSEL fire suppression system. Zoned R1A-VH (Single-Unit Attached Residential – Very High Density), the property has a history of commercial use. The upper level has previously operated as a commissary kitchen and private social club with a 49-person City of Pittsburgh occupancy permit. The property offers convenient access to major interchanges, the North Hills, and downtown Pittsburgh. Delivered vacant at closing, the property presents a strong opportunity for an owner-user or adaptive reuse investor. Buyer is responsible for verifying zoning compatibility with intended use.
Key Highlights
- Dual drive‑in garage access and open shop space, ideal for various uses.
- Second floor features multiple private offices, a large open area, and a commercial kitchen.
- ±6,400 SF two‑story commercial 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
$37,540
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
7.51%
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%
$750,800
$750.8K
Cap Rate 7%
$536,286
$536.3K
Cap Rate 9%
$417,111
$417.1K
Market Conditions
NOI Build-Up for 6,400 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
$61.4K $9.60/SF
− Vacancy
−$3.7K −$0.58/SF
EGI
$57.8K $9.02/SF
− OpEx
−$20.2K −$3.16/SF
NOI
$37.5K $5.87/SF
Area
Pittsburgh, PA
Vacancy
6.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$750,800
Cap Rate 7%
$536,286
Cap Rate 9%
$417,111
Alternative Uses
Best Use
Retail
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 14.92%
Second Best
Mixed Use
$1.02M
$892.8K – $1.19M
NOI $71,424 @ 7.0% cap · market cap 14.28%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,678 @ 7.0% cap · market cap 28.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,164
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 Industrial in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 6,400 SF commercial building suitable for owner-user or adaptive reuse.
Where is this mixed-use property located?
The property is located at 507-509 Tripoli Street Pittsburgh, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Dual drive‑in garage access and open shop space, ideal for various uses.; Second floor features multiple private offices, a large open area, and a commercial kitchen.; ±6,400 SF two‑story commercial building.
