Restaurant Space with Outdoor
For Sale
Contact for pricing
2060 Ardmore Blvd, Pittsburgh, PA 15221
Restaurant with 138 seats, patio, and equipped commercial kitchen.
Property Size3,719 SF
Lot Size0.92 Acres
Price / SF$322.67
Days on Market869
Property Features for 2060 Ardmore Blvd
General Information
Standard status
Active
Size
3,719 SF
Total Parking Spaces
50
Lot size
0.92 Acres
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 Fairways Real Estate
Listed By:
Susan Gill · License #PA
(724) 864-5916
Source:
Crexi
Added: Apr 17, 2024
Changed: Aug 24
Last Checked: Sep 2 at 1:01AM
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 CENTURY 21 Fairways Real Estate
Investment Insights
Based on property information with market context.
This restaurant space, suitable for conventional restaurant use, encompasses 3719 square feet and features a 138-seat eat-in dining area. The property is situated on a 40,102 square foot site. A 688 square foot basement provides space for a break room and employee lounge. An exterior patio has been added to accommodate outdoor dining. The commercial kitchen is equipped with a full Ansel system, ovens, fryers, a commercial dishwasher, a walk-in cooler, and a walk-in freezer.
Key Highlights
- Fully equipped commercial kitchen with Ansel system, ovens, fryers, commercial dishwasher, walk‑in cooler, and walk‑in freezer.
- 138‑seat eat‑in restaurant.
- Inviting exterior patio for outdoor dining.
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
$50,073
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
4.17%
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%
$1,001,460
$1.0M
Cap Rate 7%
$715,329
$715.3K
Cap Rate 9%
$556,367
$556.4K
Market Conditions
NOI Build-Up for 3,719 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
$71.4K $19.20/SF
− Vacancy
−$4.6K −$1.25/SF
EGI
$66.8K $17.95/SF
− OpEx
−$16.7K −$4.49/SF
NOI
$50.1K $13.46/SF
Area
ZIP 15221
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,001,460
Cap Rate 7%
$715,329
Cap Rate 9%
$556,367
Alternative Uses
Best Use
Specialty Retail
$715.3K
$625.9K – $834.6K
NOI $50,073 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$947.3K
$828.9K – $1.11M
NOI $66,310 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
99k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Dining 27%
Shops & Services 26%
Home Improvements & Furnishings 7%
Aldi
Groceries
17,659 visits/mo
0.4 miles
Giant Eagle Supermarket
Groceries
17,600 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,323 visits/mo
0.1 miles
Taco Bell
Dining
10,783 visits/mo
0.3 miles
Exxon
Shops & Services
9,485 visits/mo
0.2 miles
Demographics for 15221, PA
28,913
Population
17,621
Households
1.6
Avg Household Size
42
Median Age
42%
College-Educated
95%
High-School Grad
6.2 sq mi
ZIP Area
4,663
Density / Sq Mi
$55,241
Median Household Income
$42,411
Median Earnings
$954
Median Rent
$157,100
Median Home Value
Market
Vacancy Rate% for Retail in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant with 138 seats, patio, and equipped commercial kitchen.
Where is this conventional restaurant located?
The property is located at 2060 Ardmore Blvd Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully equipped commercial kitchen with Ansel system, ovens, fryers, commercial dishwasher, walk‑in cooler, and walk‑in freezer.; 138‑seat eat‑in restaurant.; Inviting exterior patio for outdoor dining.
