Multi-Tenant Retail Strip
For Sale
Contact for pricing
5770 Butler Street, Pittsburgh, PA 15201
Retail strip center with three leased tenants and two rear garage bays.
Property Size15,600 SF
Price / SF$192.31
Days on Market144
Property Features for 5770 Butler Street
General Information
Standard status
Active
Size
15,600 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$212,891
Additional Details
Service Bays
2
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Jason Campagna · License #PA RM424399
(412) 535-5756
Source:
Crexi
Added: Apr 15
Changed: Sep 1
Last Checked: Sep 3 at 6:22AM
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.
Located at 5770 Butler Street, this 15,600 SF retail strip center is offered as an investment opportunity. The property includes three commercial tenants and features two garage bays at the rear.
The center is positioned along the Butler Street corridor, which is described as highly trafficked and offers strong visibility. The immediate area includes a mix of retail, dining, and residential development, with Downtown Pittsburgh located just minutes away.
The property is currently reported as 100% leased.
The center is positioned along the Butler Street corridor, which is described as highly trafficked and offers strong visibility. The immediate area includes a mix of retail, dining, and residential development, with Downtown Pittsburgh located just minutes away.
The property is currently reported as 100% leased.
Key Highlights
- 15,600 SF retail investment property at 5770 Butler Street in Lawrenceville, Pittsburgh.
- Three commercial tenants; property is currently 100% leased.
- Includes two rear garage bays in addition to the retail space.
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
$181,818
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
6.06%
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%
$3,636,360
$3.6M
Cap Rate 7%
$2,597,400
$2.6M
Cap Rate 9%
$2,020,200
$2.0M
Market Conditions
NOI Build-Up for 15,600 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
$280.8K $18.00/SF
− Vacancy
−$21.1K −$1.35/SF
EGI
$259.7K $16.65/SF
− OpEx
−$77.9K −$5.00/SF
NOI
$181.8K $11.66/SF
Area
Pittsburgh, PA
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,636,360
Cap Rate 7%
$2,597,400
Cap Rate 9%
$2,020,200
Alternative Uses
Best Use
Retail
$2.60M
$2.27M – $3.03M
NOI $181,818 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.97M
$4.35M – $5.80M
NOI $347,779 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 15201, PA
12,802
Population
7,970
Households
1.6
Avg Household Size
36
Median Age
64%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
6,738
Density / Sq Mi
$86,049
Median Household Income
$59,987
Median Earnings
$1,538
Median Rent
$257,300
Median Home Value
Market
Vacancy Rate% for Retail in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center with three leased tenants and two rear garage bays.
Where is this strip mall located?
The property is located at 5770 Butler Street Pittsburgh, PA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 15,600 SF retail investment property at 5770 Butler Street in Lawrenceville, Pittsburgh.; Three commercial tenants; property is currently 100% leased.; Includes two rear garage bays in addition to the retail space.
