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 Market71
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
(724) 991-5559
Listed By:
Chase Takacs · License #RS317489
(724) 991-5559
Source:
Svn
Added: Jun 23
Changed: Aug 31
Last Checked: Aug 31 at 2:10PM
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 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 = 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
$64,090
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
8.60%
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%
$1,281,800
$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
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
$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 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%
$1,281,800
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
