Mixed-Use Office and Apartment
For Sale
$275,000
Pending
793 N Main Street, Meadville, PA 16335
Two-level layout combines professional office space with a separate residential apartment.
Property Size2,160 SF
Days on Market56
Property Features for 793 N Main Street
General Information
Standard status
Pending
Size
2,160 SF
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,180
Amenities
central air
open front porch
ramp
full basement
wraparound blacktop driveway
Building Details
Buildings
1
Stories
2
Listing Agency:
RE/MAX Hometown Realty
(814) 724-9853
Listed By:
Richard Kress · License #RM421637
(814) 724-9853
Source:
Exprealty
Added: Jun 17
Changed: Aug 5
Last Checked: Aug 10 at 9:26AM
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 RE/MAX Hometown Realty
Investment Insights
Based on property information with market context.
This 2,160-square-foot mixed-use property combines a professional office on the first floor with a separate second-floor apartment. The office includes a 9x15 waiting room, 14x14 reception area, two private offices, three exam rooms, a 10x12 kitchen, 1.5 baths, central air, and a ramped front porch. The apartment has two bedrooms, a 13x13 living room, a full bath, and an 8x15 kitchen with a breakfast counter, skylight, appliances, and stacked washer/dryer. Hardwood flooring and natural woodwork add character, while separate utilities and dedicated side and rear entrances support independent use.
Exterior features include vinyl siding, a metal roof, vinyl windows, and a full basement. A wraparound blacktop driveway provides parking areas at both the front and rear of the property. Located at 793 N Main Street in Meadville City, Pennsylvania, the building supports a live-work configuration, continued professional office use, or conversion to apartment space.
Exterior features include vinyl siding, a metal roof, vinyl windows, and a full basement. A wraparound blacktop driveway provides parking areas at both the front and rear of the property. Located at 793 N Main Street in Meadville City, Pennsylvania, the building supports a live-work configuration, continued professional office use, or conversion to apartment space.
Key Highlights
- 2,160‑square‑foot mixed‑use office and apartment building
- First‑floor office with two private offices and three exam rooms
- Second‑floor apartment with two bedrooms and separate utilities
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
$14,580
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
5.30%
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%
$291,600
$291.6K
Cap Rate 7%
$208,286
$208.3K
Cap Rate 9%
$162,000
$162.0K
Market Conditions
NOI Build-Up for 2,160 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
$25.9K $12.00/SF
− Vacancy
−$2.6K −$1.20/SF
EGI
$23.3K $10.80/SF
− OpEx
−$8.7K −$4.05/SF
NOI
$14.6K $6.75/SF
Area
Crawford County, PA
Vacancy
10.00%
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%
$291,600
Cap Rate 7%
$208,286
Cap Rate 9%
$162,000
Alternative Uses
Best Use
Office B
$407.2K
$356.3K – $475.1K
NOI $28,507 @ 7.0% cap · market cap 10.37%
Second Best
Mixed Use
$208.3K
$182.3K – $243.0K
NOI $14,580 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$535.9K
$468.9K – $625.2K
NOI $37,511 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Demographics for 16335, PA
27,452
Population
12,547
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
240
Density / Sq Mi
$58,531
Median Household Income
$32,692
Median Earnings
$892
Median Rent
$149,500
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?
Mixed-use property - Two-level layout combines professional office space with a separate residential apartment.
Where is this mixed-use property located?
The property is located at 793 N Main Street Meadville, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,160‑square‑foot mixed‑use office and apartment building; First‑floor office with two private offices and three exam rooms; Second‑floor apartment with two bedrooms and separate utilities
