Mixed-Use Property with Upstairs
For Sale
$104,000
859 Park Ave, Meadville, PA 16335
Two-level configuration includes an occupied residential unit, adaptable lower-level space, and off-street parking.
Property Size1,216 SF
Price / SF$85.53
Days on Market195
Property Features for 859 Park Ave
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,424
Amenities
off street parking
Listing Agency:
Howard Hanna BK Conneaut Lake
(814) 382-5225
Listed By:
Cori Harmon
(814) 382-5225
Source:
Exprealty
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 30 at 10:27PM
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 Howard Hanna BK Conneaut Lake
Investment Insights
Based on property information with market context.
This 1,216-square-foot mixed-use property includes an occupied residential unit on the upper level. The lower level offers flexibility for another residential unit or a business use, subject to applicable requirements. Off-street parking is included.
The property is located at 859 Park Ave in Meadville, PA. Its placement in the heart of Meadville provides an established in-town setting for a combined residential and commercial configuration.
The property is located at 859 Park Ave in Meadville, PA. Its placement in the heart of Meadville provides an established in-town setting for a combined residential and commercial configuration.
Key Highlights
- 1,216‑square‑foot mixed‑use property
- Occupied residential unit on the upper level
- Lower level may accommodate another residential unit or a business
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
$9,329
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
8.97%
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%
$186,580
$186.6K
Cap Rate 7%
$133,271
$133.3K
Cap Rate 9%
$103,656
$103.7K
Market Conditions
NOI Build-Up for 1,216 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
$17.9K $14.76/SF
− Vacancy
−$987 −$0.81/SF
EGI
$17.0K $13.95/SF
− OpEx
−$7.6K −$6.28/SF
NOI
$9.3K $7.67/SF
Area
Crawford County, PA
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$186,580
Cap Rate 7%
$133,271
Cap Rate 9%
$103,656
Alternative Uses
Best Use
Retail
$174.7K
$152.9K – $203.9K
NOI $12,232 @ 7.0% cap · market cap 11.76%
Second Best
Apartment 5plus
$133.3K
$116.6K – $155.5K
NOI $9,329 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$301.7K
$264.0K – $352.0K
NOI $21,118 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
165k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 27%
Superstores 18%
Groceries 15%
Big Lots
Superstores
29,288 visits/mo
0.3 miles
McDonald's
Dining
25,190 visits/mo
0.4 miles
Tops Friendly Markets
Groceries
22,767 visits/mo
0.2 miles
Country Fair
Shops & Services
19,683 visits/mo
0.2 miles
Wendy's
Dining
15,805 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration includes an occupied residential unit, adaptable lower-level space, and off-street parking.
Where is this mixed-use property located?
The property is located at 859 Park Ave Meadville, PA.
What is the asking price?
The asking price for this property is $104,000.
What are key features of this property?
This property features: 1,216‑square‑foot mixed‑use property; Occupied residential unit on the upper level; Lower level may accommodate another residential unit or a business
