Mixed-Use Property with
For Sale
$579,900
700 Hoke St, Latrobe, PA 15650
CommercialSale, Latrobe, PA
Property Size4,500 SF
Price / SF$128.87
Days on Market141
Property Features for 700 Hoke St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-4
Zoning description
C-4
Directions
GPS
Subdivision
Latrobe
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
3538
Listing Agency:
REALTY ONE GROUP GOLD STANDARD
Listed By:
Steve Limani
(724) 941-1427
Added: Apr 23
Changed: Sep 9
Last Checked: Sep 10 at 3:06PM
MLS# 1750071
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 700 Hoke St in Latrobe, PA, this C-4-zoned mixed-use property pairs a 4,500-square-foot warehouse with four apartment units on the level above. The warehouse includes open floor area, high ceilings, and oversized garage doors, providing a functional layout for storage, contractor operations, or light industrial use.
The upper-level apartments add residential income to the commercial component within the same building. This configuration brings together warehouse utility and multifamily occupancy in a single asset, with the property’s physical layout supporting both commercial and residential functions.
The upper-level apartments add residential income to the commercial component within the same building. This configuration brings together warehouse utility and multifamily occupancy in a single asset, with the property’s physical layout supporting both commercial and residential functions.
Key Highlights
- 4,500‑square‑foot warehouse with open floor area
- Four apartment units positioned above the warehouse
- Oversized garage doors and high ceilings
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
$40,644
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
7.01%
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%
$812,880
$812.9K
Cap Rate 7%
$580,629
$580.6K
Cap Rate 9%
$451,600
$451.6K
Market Conditions
NOI Build-Up for 4,500 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
$62.1K $13.80/SF
− Vacancy
−$4.0K −$0.90/SF
EGI
$58.1K $12.90/SF
− OpEx
−$17.4K −$3.87/SF
NOI
$40.6K $9.03/SF
Area
Westmoreland County, PA
Vacancy
6.50%
Lease Rate
$13.80 /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%
$812,880
Cap Rate 7%
$580,629
Cap Rate 9%
$451,600
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.1K – $677.4K
NOI $40,644 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$509.4K
$445.7K – $594.3K
NOI $35,659 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,235 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 15650, PA
26,523
Population
12,294
Households
2.2
Avg Household Size
47
Median Age
30%
College-Educated
95%
High-School Grad
74.2 sq mi
ZIP Area
357
Density / Sq Mi
$63,314
Median Household Income
$38,500
Median Earnings
$824
Median Rent
$175,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines open warehouse space with residential units above.
Where is this mixed-use property located?
The property is located at 700 Hoke St Latrobe, PA.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: 4,500‑square‑foot warehouse with open floor area; Four apartment units positioned above the warehouse; Oversized garage doors and high ceilings
