Renovated Mixed-Use
For Sale
$745,000
510 E 8th Ave, Homestead, PA 15120
Renovated commercial property combining leased retail space with four residential apartments and dedicated parking.
Property Size8,238 SF
Days on Market117
Property Features for 510 E 8th Ave
General Information
Standard status
Active
Size
8,238 SF
Total Parking Spaces
14
Property subtype
Multifamily
Building Details
Building Size
8,238 SF
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Chase Takacs
(724) 991-5559
Source:
Svn
Added: Jun 23
Changed: Oct 11
Last Checked: Oct 16 at 7:42AM
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
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Investment Insights
Based on property information with market context.
This mixed-use asset spans two parcels and includes a first-floor retail space alongside four residential apartments. The property underwent a complete renovation, including a full interior gut renovation and replacement of the building’s components. The retail space is leased to the Magistrate Office, while the residential units include three rented apartments and one owner-occupied apartment.
An additional lot provides a total of 14 parking spaces. Tenants pay all utilities except for the first-floor retail space. The property is located at 510 E 8th Ave in Homestead, within the East 8th Avenue corridor and less than 1 mile from the Waterfront, a drive of approximately 5 minutes.
An additional lot provides a total of 14 parking spaces. Tenants pay all utilities except for the first-floor retail space. The property is located at 510 E 8th Ave in Homestead, within the East 8th Avenue corridor and less than 1 mile from the Waterfront, a drive of approximately 5 minutes.
Key Highlights
- Two‑parcel mixed‑use asset with 1 retail space and 4 residential units
- Fully renovated after a complete interior gut renovation
- Retail space leased to the Magistrate Office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,090
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,281,800
$1.3M
Cap Rate 7%
$915,571
$915.6K
Cap Rate 9%
$712,111
$712.1K
Market Conditions
NOI Build-Up for 8,238 SF
Gross rent
$123.6K $15.00/SF
− Vacancy
−$7.0K −$0.86/SF
EGI
$116.5K $14.15/SF
− OpEx
−$52.4K −$6.37/SF
NOI
$64.1K $7.78/SF
Area
Allegheny County, PA
Vacancy
5.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,281,800
Cap Rate 7%
$915,571
Cap Rate 9%
$712,111
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.60M
NOI $96,014 @ 7.0% cap · market cap 12.89%
Second Best
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,410 @ 7.0% cap · market cap 11.20%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,884 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial property combining leased retail space with four residential apartments and dedicated parking.
Where is this mixed-use property located?
The property is located at 510 E 8th Ave Homestead, PA.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Two‑parcel mixed‑use asset with 1 retail space and 4 residential units; Fully renovated after a complete interior gut renovation; Retail space leased to the Magistrate Office
