Listing Agency: Hanna Commercial Real Estate - Pittsburgh

Listed By: Jay Phoebe · License #PA RS195720L Show Phone

Source: Crexi

Added: Jul 17, 2023 Changed: Sep 21 Last Checked: Oct 5 at 5:20PM

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Investment Insights

Based on property information with market context.

A mixed-use property is available for sale. The property has a size of 6,000 square feet.

Key Highlights

• No property information was provided.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,960

Cap Rate

5.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,339,200 $1.3M

Cap Rate 7%

$956,571 $956.6K

Cap Rate 9%

$744,000 $744.0K

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$115.2K $19.20/SF

− Vacancy

−$8.1K −$1.34/SF

EGI

$107.1K $17.86/SF

− OpEx

−$40.2K −$6.70/SF

NOI

$67.0K $11.16/SF

Area

Pittsburgh, PA

Vacancy

7.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,339,200

Cap Rate 7%

$956,571

Cap Rate 9%

$744,000

Alternative Uses

Best Use

Mixed Use

$956.6K

$837.0K – $1.12M (±1% cap)

NOI $66,960 @ 7.0% cap · market cap 5.58%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,761 @ 7.0% cap · market cap 11.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Electrical Service HVAC Service Accounting Firm (Bike/Boat/Book/etc) Store Butcher Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,269

Businesses Nearby

Explore this area Business Placement

Demographics for 15224, PA

10,568

Population

6,380

Households

1.7

Avg Household Size

34

Median Age

55%

College-Educated

94%

High-School Grad

1.5 sq mi

ZIP Area

7,045

Density / Sq Mi

$65,974

Median Household Income

$49,642

Median Earnings

$1,191

Median Rent

$240,600

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property available for sale.

Where is this mixed-use property located?

The property is located at 5300 Penn Ave 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: No property information was provided.