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    Belle Vernon Retail/Office Suites Title is generated by Realmo AI

    Tri County Lane, Belle Vernon, PA 15012

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    Retail and office suites available for lease in Belle Vernon.

    Type:Retail
    Property size:
    6,865 SF
    Added:
    Jul 20, 2020
    Days on Market:
    2146
    Last Refresh:
    May 12 at 11:33 pm

    Property Features for Tri County Lane

    General Information

    Standard status
    Active
    Size
    6,865 SF
    Property subtype
    Retail

    Spaces For Lease

    at Tri County Lane Contact us

    Suite 203 $25/Mo

    Size
    3,400 SF
    Type
    Retail
    Former H&R Block space. 3,400 SF.
    Contact us

    Space 108 $16/Mo

    Size
    1,200 SF
    Type
    Retail
    Formerly a Rita's Italian Ice. Food Grade Walls, and takeout window. Would work...
    show more
    Contact us

    Suite 956 $2,000/Mo

    Size
    880 SF
    Type
    Retail
    Former Dentist Office. Space will need work for future occupants. Rate reflects...
    show more
    Contact us

    Suite 101 $18/Mo

    Size
    1,200 SF
    Type
    Retail
    A currently opened & occupied cafe. Space can be made available in 30 days.
    Contact us

    We can help!

    Listing Contact
    John Stokes

    Listing agent John Stokes License #PA

    Listing office Glimcher Group

    Listing date Jul 20, 2020

    Source Crexi

    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 Glimcher Group

    HighLights

    • Suite 307D: 6,865 SF, brand new medical buildout, ready for a new medical tenant.
    • Suite 203: 3,400 SF, newly renovated, at main entrance.
    • Suite 108: 1,200 SF, former Rita’s Italian Ice, food grade walls, plumbing located towards the front.
    • Suite 103: 1,600 SF, retail/service setup, can easily be opened up.
    • Suite 107: 1,200 SF, open retail space, slat wall installed.
    • Suite 956: 880 SF, former dentist office, suitable for office or minimal traffic retail.

    Overview

    Available for lease are multiple suites suitable for retail, restaurant, or office use. Suite 101 offers 1,200 square feet and was formerly used for food service. Suite 103 provides 1,600 square feet and is set up for retail or service businesses, with the potential for an open layout. Suite 107 features 1,200 square feet of open retail space with slat wall installed. Suite 108, also 1,200 square feet, previously housed a Rita’s Italian Ice and includes food-grade walls and plumbing near the front. Suite 203, a 3,400-square-foot space, was formerly an H&R Block and is located at the main entrance in a newly renovated area of the plaza. Suite 307D offers 6,865 square feet and is a brand-new medical buildout, previously occupied by DaVita, ready for a new medical tenant. Suite 956, at 880 square feet, was last occupied by a dentist and is suitable for office space or minimal traffic retail, with flexible rent terms to accommodate necessary work.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Belle Vernon
    County
    Fayette
    State
    Pennsylvania
    Longitude
    -79.8119
    Latitude
    40.1536

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    FAQs

    What type of property is this?
    Retail space - Retail and office suites available for lease in Belle Vernon.
    Where is this retail space located?
    The property is located at Tri County Lane Belle Vernon, PA.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Suite 307D: **6,865 SF, brand new medical buildout, ready for a new medical tenant.**; Suite 203: **3,400 SF, newly renovated, at main entrance.**; Suite 108: 1,200 SF, former Rita’s Italian Ice, food grade walls, plumbing located towards the front.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Stokes
    Real Estate License ID: PA
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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