Restaurant with Redevelopment
550 Mckeesport Rd Elizabeth, PA 15037
550 Mckeesport Rd, Elizabeth, PA, 15037
$699,900
For Sale
$699,900
Restaurant on 2.46 acres with high visibility and redevelopment potential.
Property Size2,900 SF
Lot Size2.46 Acres
Price / SF$241.34
Days on Market317
Property Features for 550 Mckeesport Rd
General Information
- Standard status
- Active
- Size
- 2,900 SF
- Lot size
- 2.46 Acres
Listing Agency
PIATT SOTHEBY'S INTERNATIONAL REALTY
(412) 471-4900
Listed by
Mikal Merlina · License #AB069240
(412) 471-4900
Source
Exprealty
Added: Sep 5, 2025 Checked: Jul 16 at 8:48 pm
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 PIATT SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This fully operational restaurant is situated on 2.46 acres along McKeesport Rd, which sees over 11,000 vehicles per day. The property features over 440 feet of frontage and 59 paved parking spaces. The main level spans approximately 2,900 square feet and includes a large dining room, a stone fireplace, a secondary dining area, and a diner-style counter. The lower level contains a 3-car integral garage with 18-foot ceilings and an oversized door, suitable for storage or adaptive uses such as a brewery, catering service, or ghost kitchen. The restaurant currently operates Thursday through Sunday and has an established customer base, with opportunities to expand hours or rebrand. The property is located within a 5-mile trade area with over 60,000 residents and $750 million in annual consumer spending. This location offers visibility, signage exposure, and flexibility for various uses, including restaurant, retail, multi-tenant, or drive-thru concepts, making it a prime redevelopment opportunity.
Key Highlights
- High‑traffic location on McKeesport Rd (11,000+ vehicles/day) with 440+ ft of frontage and excellent visibility.
- Fully operational restaurant with loyal customer base and potential to expand hours or rebrand.
- 2.46‑acre property offering prime redevelopment opportunities for restaurant, retail, multi‑tenant, or drive‑thru uses.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.2k | $18.00 |
| − Vacancy | −$3.9k | −$1.35 |
| EGI | $48.3k | $16.65 |
| − OpEx | −$14.5k | −$5.00 |
| NOI | $33.8k | $11.66 |
2,900 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$482.9K
$422.5K – $563.3K
NOI $33,800 @ 7.0% cap · market cap 4.83%
Second Best
Specialty Retail
$410.9K
$359.5K – $479.4K
NOI $28,762 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$738.7K
$646.3K – $861.8K
NOI $51,707 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Wagner's Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant on 2.46 acres with high visibility and redevelopment potential.
Where is this conventional restaurant located?
The property is located at 550 Mckeesport Rd Elizabeth, PA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: High‑traffic location on McKeesport Rd (11,000+ vehicles/day) with 440+ ft of frontage and excellent visibility.; Fully operational restaurant with loyal customer base and potential to expand hours or rebrand.; **2.46‑acre property offering prime redevelopment opportunities** for restaurant, retail, multi‑tenant, or drive‑thru uses.
