Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Investment Property Near UPMC Hospital Title is generated by Realmo AI

    606 Evans Ave, McKeesport, PA

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Investment opportunity with commercial space and residential unit near UPMC.

    Type:RETAIL
    Lot size:
    0.06 Acres
    Added:
    Jun 9, 2025
    Days on Market:
    354
    Last Refresh:
    May 20 at 8:30 pm

    Property Features for 606 Evans Ave

    General Information

    Standard status
    Active
    Lot size
    0.06 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Lori Kashellack

    Listing agent Lori Kashellack

    Listing office BHHS - The Preferred Realty | City of Pittsburgh

    Listing date Jun 9, 2025

    Source Moodyscre

    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 BHHS - The Preferred Realty | City of Pittsburgh

    HighLights

    • High 12.8% Cap Rate indicating strong cash flow potential.
    • Prime location directly across from UPMC Hospital.
    • Two income‑generating units: a commercial space and a 2‑bedroom apartment.
    • First‑floor commercial space has a lease in place until December 2027, generating $1100 per month.
    • Tenants pay for all utilities (gas, electricity, water, and sewage).
    • Recent updates include a new 50‑year rubber roof (installed February 2025) and a new first‑floor HVAC system and hot water tank.

    Overview

    This investment property is located directly across from UPMC Hospital in the east suburbs of Pittsburgh. The first floor features a commercial space currently operating as a convenience store, with a lease in place at $1100 per month, ending in December of 2027. The second floor contains a 2-bedroom apartment occupied by a long-term tenant paying $900 per month. Both tenants are responsible for all utilities, including gas, electricity, water, and sewage. Recent updates include a new 50-year rubber roof, installed in February 2025, and a new first-floor HVAC system and hot water tank. The property presents a cash flow opportunity, supported by its 12.8% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McKeesport
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.8498
    Latitude
    40.35

    Nearby Similar for Sale

    • $89,000

      Versatile McKeesport Building Near UPMC

      Expansive 8,000+ sq ft building near UPMC McKeesport Hospital.
      1320-1326 5th Ave, McKeesport, PA 15132
      View Details
    • $605,000

      Remodeled McKeesport Fourplex Opportunity

      Fully remodeled fourplex with separate utilities and parking.
      1116 ONeil Blvd, McKeesport, PA 15132
      View Details
    • $15,000

      McKeesport Commercial Property on Main Drag

      Commercial property in McKeesport with high traffic volume.
      1126 5th Avenue, McKeesport, PA 15132
      View Details
    • $99,000

      McKeesport Multi-Parcel Investment Opportunity

      Unique property package with flexible layout and redevelopment potential.
      1007 -1005 Park St, McKeesport, PA 15132
      View Details
    • $59,900

      Versailles Boro Office For Sale

      Former dentist office in well-maintained building, suitable for professional services.
      4804 Walnut St, Versailles Boro, PA 15132
      View Details
    • $1,250,000

      Thriving Butcher Shop and Grocery

      Turnkey butcher shop and specialty grocery in McKeesport, PA.
      2010 Eden Park Blvd, McKeesport, PA 15132
      View Details
    • $455,000

      Turnkey Business with Rental Income

      Commercial building with rental income, bar/restaurant, and single-family house.
      2721 5th Ave, McKeesport, PA 15132
      View Details
    • $89,900

      Mixed-Use Building with Retail/Office

      Mixed-use commercial building with retail and office space in McKeesport.
      600 Locust, McKeesport, PA 15132
      View Details
    • $60,000

      McKeesport Multifamily Investment Opportunity

      Five-unit multifamily property with value-add potential in McKeesport, PA.
      116 5th Avenue, McKeesport, PA 15132
      View Details
    • $450,000
      2,579 SF

      Turnkey Convenience Store with Apartments

      Convenience store with two apartments, offering business and rental income.
      1129 Greenock Buena Vista Road, McKeesport, PA 15135
      View Details
    • $1,100,000
      19,408 SF

      HVAC Wholesale Distributor Opportunity

      Established HVAC wholesale distributor with prime location and loyal customer base.
      1307 Walnut St, McKeesport, PA 15132
      View Details
    • $285,000

      Liberty Boro Storage Investment

      Brick building with storage units and versatile front area.
      2922 Liberty Way, McKeesport, PA
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Investment opportunity with commercial space and residential unit near UPMC.
    Where is this grocery and convenience store located?
    The property is located at 606 Evans Ave McKeesport, PA.
    What is the asking price?
    The asking price for this property is $162,500.
    What are key features of this property?
    This property features: High 12.8% Cap Rate indicating strong cash flow potential.; Prime location directly across from UPMC Hospital.; Two income‑generating units: a commercial space and a 2‑bedroom apartment.
    (412) 969-3584 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lori Kashellack
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    606 Evans Ave, McKeesport, PA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!