Live-Work Property with
For Sale
$350,000
6216 Old Route 8, Butler, PA 16002
Older residence with adaptable rooms supports combined living, working, renovation, or reinvention on a substantial parcel.
Property Size3,500 SF
Lot Size1.78 Acres
Price / SF$100
Days on Market68
Property Features for 6216 Old Route 8
General Information
Standard status
Active
Size
3,500 SF
Lot size
1.78 Acres
Property Condition
Severity
Repairs Needed
Evidence
ready for a sparkling reimagination
Taxes and HOA fees
Annual Taxes
$4,201
Listing Agency:
BERKSHIRE HATHAWAY THE PREFERRED REALTY
(412) 521-5500
Listed By:
Dominic Janidas · License #AB068466
(412) 521-5500
Source:
Exprealty
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 30 at 10:32AM
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 BERKSHIRE HATHAWAY THE PREFERRED REALTY
Investment Insights
Based on property information with market context.
This live-work property combines a 3-bedroom, 4.5-bathroom residence with approximately 3, 500 square feet of space on approximately 1.78 acres. Dating to the 1900s, the building includes generously sized rooms and a layout that can accommodate residential use, working space, renovation, or a reconfigured concept. The property is positioned along the Route 8 corridor in Penn Township, with a highly visible setting and access to major roadways. Shopping, dining, schools, and everyday conveniences are located minutes away. The sizable grounds provide room for parking, outdoor amenities, storage, expansion, or future improvements, subject to applicable requirements. Located at 6216 Old Route 8 in Butler, PA, the property offers a substantial footprint for a buyer planning to restore, adapt, or combine living and working functions.
Key Highlights
- Approximately 1.78 acres along the Route 8 corridor in Penn Township
- Approximately 3, 500 square feet of living and/or working space
- 3 bedrooms and 4.5 bathrooms
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
$23,100
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
6.60%
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%
$462,000
$462.0K
Cap Rate 7%
$330,000
$330.0K
Cap Rate 9%
$256,667
$256.7K
Market Conditions
NOI Build-Up for 3,500 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
$42.0K $12.00/SF
− Vacancy
−$5.0K −$1.44/SF
EGI
$37.0K $10.56/SF
− OpEx
−$13.9K −$3.96/SF
NOI
$23.1K $6.60/SF
Area
Butler County, PA
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$462,000
Cap Rate 7%
$330,000
Cap Rate 9%
$256,667
Alternative Uses
Best Use
Office B
$638.7K
$558.9K – $745.2K
NOI $44,711 @ 7.0% cap · market cap 12.77%
Second Best
Mixed Use
$330.0K
$288.8K – $385.0K
NOI $23,100 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$891.5K
$780.1K – $1.04M
NOI $62,405 @ 7.0% cap · market cap 17.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 16002, PA
15,379
Population
6,573
Households
2.3
Avg Household Size
47
Median Age
26%
College-Educated
96%
High-School Grad
73.3 sq mi
ZIP Area
210
Density / Sq Mi
$82,676
Median Household Income
$40,159
Median Earnings
$787
Median Rent
$256,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Older residence with adaptable rooms supports combined living, working, renovation, or reinvention on a substantial parcel.
Where is this live-work space located?
The property is located at 6216 Old Route 8 Butler, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 1.78 acres along the Route 8 corridor in Penn Township; Approximately 3, 500 square feet of living and/or working space; 3 bedrooms and 4.5 bathrooms
