Versatile Flex Building on Rodi
For Sale
Contact for pricing
508 RODI RD, Pittsburgh, PA 15235
3500 SF flex building with office, showroom, and warehouse space.
Property Size3,500 SF
Price / SF$107.14
Days on Market108
Property Features for 508 RODI RD
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Office, Mixed Use
Zoning
Mixed Use
Building Details
Buildings
1
Stories
2
Units
1
Listing Agency:
Weiner Real Estate
(412) 373-8900
Listed By:
Jeff Weiner · License #PA RM045919A
Source:
Crexi
Added: May 14
Changed: Aug 27
Last Checked: Aug 26 at 5:50PM
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 Weiner Real Estate
Investment Insights
Based on property information with market context.
This well-maintained 3500 SF flex building offers a combination of office, showroom, warehouse, and garage space across two levels. It features two oversized garage doors measuring 11'6". The location benefits from a traffic count of approximately 28,000 vehicles daily on Rodi Road. The main level includes two expansive 30' x 30' open workspaces suitable for operations, showroom displays, or collaborative environments, along with two private offices, a kitchenette, and a bathroom. The lower level provides a large office, a bathroom, and garage space ideal for storage, distribution, or service operations. The property is suitable for many different uses and is located minutes from I 376, Business Route 22, the PA Turnpike, and Route 28.
Key Highlights
- High‑traffic location on Rodi Road with approximately 28,000 vehicles daily.
- 3500 SF flex building with office/showroom/warehouse/garage space.**
- Two 11’6” oversized garage doors.**
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
$30,794
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
8.21%
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%
$615,880
$615.9K
Cap Rate 7%
$439,914
$439.9K
Cap Rate 9%
$342,156
$342.2K
Market Conditions
NOI Build-Up for 3,500 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
$50.4K $14.40/SF
− Vacancy
−$3.0K −$0.86/SF
EGI
$47.4K $13.54/SF
− OpEx
−$16.6K −$4.74/SF
NOI
$30.8K $8.80/SF
Area
ZIP 15235
Vacancy
6.00%
Lease Rate
$14.40 /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%
$615,880
Cap Rate 7%
$439,914
Cap Rate 9%
$342,156
Alternative Uses
Best Use
Mixed Use
$523.1K
$457.7K – $610.3K
NOI $36,619 @ 7.0% cap · market cap 9.77%
Second Best
Flex RnD
$439.9K
$384.9K – $513.2K
NOI $30,794 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$1.11M
$975.3K – $1.30M
NOI $78,027 @ 7.0% cap · market cap 20.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 15235, PA
34,610
Population
16,942
Households
2
Avg Household Size
46
Median Age
36%
College-Educated
95%
High-School Grad
14.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$62,292
Median Household Income
$40,511
Median Earnings
$1,048
Median Rent
$132,800
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 - 3500 SF flex building with office, showroom, and warehouse space.
Where is this mixed-use property located?
The property is located at 508 RODI RD Pittsburgh, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: High‑traffic location on Rodi Road with approximately 28,000 vehicles daily.; 3500 SF flex building with office/showroom/warehouse/garage space.**; Two 11’6” oversized garage doors.**
