Clear-Span Industrial Warehouse with
For Sale
$1,950,000
841 Old Frankstown Road, Pittsburgh, PA 15239
M-1 zoned clear-span warehouse with drive-in access and office space suited for manufacturing, distribution, or storage use.
Property Size24,384 SF
Lot Size7.29 Acres
Price / SF$79.97
Days on Market49
Property Features for 841 Old Frankstown Road
General Information
Standard status
Active
Size
24,384 SF
Lot size
7.29 Acres
Property subtype
Industrial
Zoning
M-1
Warehouse & Industrial
Clear Height
38 ft
Drive-In Doors
4
Building Details
Building Size
24,384 SF
Listing Agency:
Pennsylvania Commercial Real Estate Inc
(412) 760-9999
Listed By:
Bob Cornell · License #AB069387
(412) 760-9999
Source:
Penncom
Added: Jun 24
Changed: Aug 10
Last Checked: Aug 11 at 6:47AM
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 Pennsylvania Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
This for-sale industrial property includes a clear-span warehouse with 6-inch concrete floors, providing a flexible interior for warehouse and manufacturing workflows. The building also features office space totaling 5,134 SF, along with ceiling heights ranging from 26' to 38' in the main warehouse. Heating is provided by Co Ray Vac. The site includes four (4) drive-in doors for loading and unloading convenience, supporting day-to-day distribution and logistics operations.
The property is located at 841 Old Frankstown Road in Pittsburgh, PA. It sits on 7.291 acres of land and is zoned M-1, with Planned Industrial indicated in the property remarks. This zoning profile is relevant for industrial and warehouse uses, including manufacturing and distribution.
With its clear-span configuration, high ceiling heights, and multiple drive-in doors, the facility is positioned to support a range of industrial tenants, including warehousing and light manufacturing or distribution operations. The combination of warehouse space and dedicated office area can accommodate teams that need on-site administrative and operational support while maintaining efficient loading access through the drive-in doors.
The property is located at 841 Old Frankstown Road in Pittsburgh, PA. It sits on 7.291 acres of land and is zoned M-1, with Planned Industrial indicated in the property remarks. This zoning profile is relevant for industrial and warehouse uses, including manufacturing and distribution.
With its clear-span configuration, high ceiling heights, and multiple drive-in doors, the facility is positioned to support a range of industrial tenants, including warehousing and light manufacturing or distribution operations. The combination of warehouse space and dedicated office area can accommodate teams that need on-site administrative and operational support while maintaining efficient loading access through the drive-in doors.
Key Highlights
- 24,384 SF industrial/warehouse building on 7.291 acres, zoned M‑1
- Clear span warehouse with 26'–38' ceiling height
- Four (4) drive‑in doors for warehouse loading and access
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
$167,230
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
8.58%
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%
$3,344,600
$3.3M
Cap Rate 7%
$2,389,000
$2.4M
Cap Rate 9%
$1,858,111
$1.9M
Market Conditions
NOI Build-Up for 24,384 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
$207.8K $8.52/SF
− Vacancy
−$11.0K −$0.45/SF
EGI
$196.7K $8.07/SF
− OpEx
−$29.5K −$1.21/SF
NOI
$167.2K $6.86/SF
Area
Pittsburgh, PA
Vacancy
5.30%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
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%
$3,344,600
Cap Rate 7%
$2,389,000
Cap Rate 9%
$1,858,111
Alternative Uses
Best Use
Warehouse
$2.39M
$2.09M – $2.79M
NOI $167,230 @ 7.0% cap · market cap 8.58%
Second Best
Industrial
$1.97M
$1.72M – $2.30M
NOI $137,719 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$7.77M
$6.80M – $9.06M
NOI $543,605 @ 7.0% cap · market cap 27.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
38 ft
Clear height
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 15239, PA
21,211
Population
8,885
Households
2.4
Avg Household Size
43
Median Age
43%
College-Educated
97%
High-School Grad
16.3 sq mi
ZIP Area
1,301
Density / Sq Mi
$101,782
Median Household Income
$56,995
Median Earnings
$1,182
Median Rent
$214,700
Median Home Value
Market
Vacancy Rate% for Industrial in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - M-1 zoned clear-span warehouse with drive-in access and office space suited for manufacturing, distribution, or storage use.
Where is this warehouse located?
The property is located at 841 Old Frankstown Road Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 24,384 SF industrial/warehouse building on 7.291 acres, zoned M‑1; Clear span warehouse with 26'–38' ceiling height; Four (4) drive‑in doors for warehouse loading and access
