Historic Mixed-Use Property with
516 W North Ave, Pittsburgh, PA 15212
For Sale
New
$1,750,000
CommercialSale, Central North Side, PA
Property Size5,128 SF
Lot Size0.19 Acres
Price / SF$341.26
Days on Market3
Property Features for 516 W North Ave
General Information
Property type
Property subtype
Zoning
Zoning description
Parking
Subdivision
Standard status
Lot size
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Annual Amount
Building Details
Building materials
Buildings
Listing Agency:
EXP REALTY LLC
Listed By:
DJ Fairley · License PA RS340181
(888) 397-7352
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 6:06PM
MLS# 1782929
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 516 W North Ave, this brick mixed-use building provides approximately 5,128 square feet across office space on the first and second floors and two one-bedroom, one-bath apartments. Historic interior details include a carved staircase, marble and wood fireplace mantels, stained glass, high ceilings, and detailed millwork. A columned wraparound porch faces Allegheny Commons Park. One apartment is tenant occupied. The property also includes a detached brick garage and additional off-street parking, with four furnaces and four AC condensers serving the building.
The property is in Pittsburgh’s Central North Side, directly across from Allegheny Commons Park and a short distance from Downtown Pittsburgh and the North Shore stadiums. Nearby points of interest include the renovated Allegheny YMCA, the Garden Theater Block redevelopment, and the proposed Esplanade riverfront development. Zoning is CIB.
The property is in Pittsburgh’s Central North Side, directly across from Allegheny Commons Park and a short distance from Downtown Pittsburgh and the North Shore stadiums. Nearby points of interest include the renovated Allegheny YMCA, the Garden Theater Block redevelopment, and the proposed Esplanade riverfront development. Zoning is CIB.
Key Highlights
- Approximately 5,128 square feet on a 0.1873‑acre lot
- Office space occupies the first and second floors
- Two 1‑bedroom, 1‑bath apartments; one is tenant occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,508
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,310,160
$1.3M
Cap Rate 7%
$935,829
$935.8K
Cap Rate 9%
$727,867
$727.9K
Market Conditions
NOI Build-Up for 5,128 SF
Gross rent
$115.7K $22.56/SF
− Vacancy
−$28.3K −$5.53/SF
EGI
$87.3K $17.03/SF
− OpEx
−$21.8K −$4.26/SF
NOI
$65.5K $12.77/SF
Area
Pittsburgh, PA
Vacancy
24.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,310,160
Cap Rate 7%
$935,829
Cap Rate 9%
$727,867
Alternative Uses
Best Use
Office B
$935.8K
$818.9K – $1.09M
NOI $65,508 @ 7.0% cap · market cap 3.74%
Second Best
Mixed Use
$817.5K
$715.4K – $953.8K
NOI $57,228 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,321 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,602
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Pittsburgh
Vacancy Rate% for Office in Pittsburgh, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space, two apartments, and substantial on-site parking are combined in a brick building opposite Allegheny Commons Park.
Where is this mixed-use property located?
The property is located at 516 W North Ave Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Approximately 5,128 square feet on a 0.1873‑acre lot; Office space occupies the first and second floors; Two 1‑bedroom, 1‑bath apartments; one is tenant occupied
