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    618 Rodi Rd Penn Hills, PA 15235

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    Vacant land on high-traffic Rodi Road, Pittsburgh, PA.

    Type:Retail, Land, Special Purpose
    Property size:
    11,250 SF
    Lot size:
    0.26 Acres
    Added:
    Sep 18, 2023
    Days on Market:
    942
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 618 Rodi Rd

    General Information

    Standard status
    Active
    Size
    11,250 SF
    Lot size
    0.26 Acres
    Property subtype
    Retail, Land, Special Purpose

    We can help!

    Listing Contact
    Susan Pittman

    Listing agent Susan Pittman License #RS339354

    Listing office Keller Williams

    Listing date Sep 18, 2023

    Source Crexi

    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 Keller Williams

    Overview

    Commercial Land on Rodi Road

    This commercial mixed-use vacant land is located on Rodi Road in Pittsburgh, Pennsylvania. The flat, wooded area measures 75 ft x 150 ft. Situated between an Avis car rental and a 7 Eleven-Sunoco station, the property experiences high traffic volume, with an average of 26,000 vehicles per day. The location offers development opportunities for various businesses, including storage garages, auto service repair shops, fast food restaurants, retail buildings, or an EV charging station area. The site provides visibility for advertising. It is located minutes from the 376 Parkway East and the Pennsylvania Turnpike.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Penn Hills
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.8243
    Latitude
    40.4601

    Nearby Similar for Sale

    • $175,000

      Penn Hills Business Opportunity

      Flexible commercial space in a highly visible Penn Hills location.
      408 Rodi Rd, Penn Hills, PA 15235
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    • $170,000

      Penn Hills Mixed-Use Opportunity

      Commercial space with residential building and garage in Penn Hills.
      1924 Universal Road, Penn Hills, PA 15235
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    • Contact for pricing
      11,157 SF

      Former Rite Aid For Sale

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      Penn Hills Land For Sale

      Commercial land available for sale in Penn Hills, PA.
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    FAQs

    What type of property is this?
    Commercial land - Vacant land on high-traffic Rodi Road, Pittsburgh, PA.
    Where is this commercial land located?
    The property is located at 618 Rodi Rd Penn Hills, PA.
    What is the asking price?
    The asking price for this property is $37,000.
    What are key features of this property?
    This property features: High traffic location with 26,000 average vehicles per day on Rodi Road.; Endless development opportunities: consider storage garage, auto service repair, fast food, retail, or an EV charging station.; Flat, vacant land is ready for development.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Susan Pittman
    Real Estate License ID: RS339354
    Learn More
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    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
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