Two-Story Mixed-Use
617 Butler St, Pittsburgh, PA 15223
For Sale
$339,000
A salon and a two-bedroom apartment occupy separate floors, with laundry in the residence.
Property Size2,600 SF
Price / SF$130.38
Days on Market135
Property Features for 617 Butler St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Mixed-Use Components
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
laundry
garage
Building Details
Year Built
Buildings
Stories
Units
Construction
Tenancy
Listing Agency:
HOWARD HANNA REAL ESTATE SERVICES
Listed By:
Rick Maiella · License PA RS228851
(724) 654-5555
Source:
Indianlakerealty
Added: Jun 30
Changed: Nov 11
Last Checked: Nov 11 at 2:07AM
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 HOWARD HANNA REAL ESTATE SERVICES
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Investment Insights
Based on property information with market context.
This two-story brick property combines a full-service salon with a second-floor apartment featuring two bedrooms and laundry. Each floor contains 1,300 square feet, with additional basement space. The building dates to 1920, and both levels have been remodeled. A rear parking area and an integral garage provide on-site vehicle space. Long-term tenants occupy the property.
Located at 617 Butler St in Pittsburgh, the property is zoned C.
Located at 617 Butler St in Pittsburgh, the property is zoned C.
Key Highlights
- Two‑story brick mixed‑use building with a full‑service salon and second‑floor apartment
- Two‑bedroom apartment includes laundry
- Each floor measures 1,300 square feet, plus basement space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,303
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,060
$606.1K
Cap Rate 7%
$432,900
$432.9K
Cap Rate 9%
$336,700
$336.7K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$46.8K $18.00/SF
− Vacancy
−$3.5K −$1.35/SF
EGI
$43.3K $16.65/SF
− OpEx
−$13.0K −$5.00/SF
NOI
$30.3K $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 Rate 5%
$606,060
Cap Rate 7%
$432,900
Cap Rate 9%
$336,700
Alternative Uses
Best Use
Retail
$432.9K
$378.8K – $505.1K
NOI $30,303 @ 7.0% cap · market cap 8.94%
Second Best
Mixed Use
$414.5K
$362.7K – $483.6K
NOI $29,016 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$828.0K
$724.5K – $966.1K
NOI $57,963 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
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Business Placement
Demographics for 15223, PA
7,080
Population
3,653
Households
1.9
Avg Household Size
41
Median Age
30%
College-Educated
95%
High-School Grad
1.9 sq mi
ZIP Area
3,726
Density / Sq Mi
$58,843
Median Household Income
$39,128
Median Earnings
$1,000
Median Rent
$154,800
Median Home Value
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Market
Properties on Market for Mixed-use properties in Pittsburgh
Vacancy Rate% for Retail in Pittsburgh, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - A salon and a two-bedroom apartment occupy separate floors, with laundry in the residence.
Where is this mixed-use property located?
The property is located at 617 Butler St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑story brick mixed‑use building with a full‑service salon and second‑floor apartment; Two‑bedroom apartment includes laundry; Each floor measures 1,300 square feet, plus basement space
