Shadyside Retail Space
For Sale
Contact for pricing
5880 Ellsworth Ave, Pittsburgh, PA 15232
Two-story building with retail space in Pittsburgh's Shadyside neighborhood.
Property Size8,000 SF
Price / SF$167.50
Days on Market843
Property Features for 5880 Ellsworth Ave
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
5
Property subtype
Retail
Zoning
LNC - Local Neighborhood Commercial
Occupancy
50%
Lease Type
NNN
Net Operating Income
$64,335
Building Details
Year Built
1930
Year Renovated
2019
Stories
2
Tenancy
Multi
Listing Agency:
Totum Realty Advisors
(304) 290-7826
Listed By:
Michael Castle · License #PA AB068356
Source:
Crexi
Added: May 2, 2024
Changed: Aug 12
Last Checked: Aug 21 at 9:45AM
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 Totum Realty Advisors
Investment Insights
Based on property information with market context.
This two-story building offers retail space on the first floor, encompassing 2,409 square feet. Situated in the Shadyside neighborhood of Pittsburgh, the location is surrounded by residential real estate, shopping, and dining options. The property benefits from its proximity to the University of Pittsburgh, Carnegie Mellon University, Carlow University, and UPMC's main campus, as well as the East Liberty tech hub. The property size is 8,000 square feet.
Key Highlights
- Prime 2,409 SF retail space on the first floor.
- Located in the heart of Shadyside, a highly desirable Pittsburgh neighborhood.
- Surrounded by sought‑after residential real estate, shopping, and dining.
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
$93,240
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
6.96%
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%
$1,864,800
$1.9M
Cap Rate 7%
$1,332,000
$1.3M
Cap Rate 9%
$1,036,000
$1.0M
Market Conditions
NOI Build-Up for 8,000 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
$144.0K $18.00/SF
− Vacancy
−$10.8K −$1.35/SF
EGI
$133.2K $16.65/SF
− OpEx
−$40.0K −$5.00/SF
NOI
$93.2K $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%
$1,864,800
Cap Rate 7%
$1,332,000
Cap Rate 9%
$1,036,000
Alternative Uses
Best Use
Retail
$1.33M
$1.17M – $1.55M
NOI $93,240 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,348 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 15232, PA
12,042
Population
6,740
Households
1.8
Avg Household Size
29
Median Age
81%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
15,053
Density / Sq Mi
$66,139
Median Household Income
$40,158
Median Earnings
$1,388
Median Rent
$522,000
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?
Retail space - Two-story building with retail space in Pittsburgh's Shadyside neighborhood.
Where is this retail space located?
The property is located at 5880 Ellsworth Ave Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,340,000.
What are key features of this property?
This property features: Prime 2,409 SF retail space on the first floor.; Located in the heart of Shadyside, a highly desirable Pittsburgh neighborhood.; Surrounded by sought‑after residential real estate, shopping, and dining.
