Commercial Income
For Sale
$750,000
9140 Perry Highway, Pittsburgh, PA 15237
Three separate units include two two-bedroom residences and a one-bedroom office unit.
Property Size4,300 SF
Price / SF$174.42
Days on Market119
Property Features for 9140 Perry Highway
General Information
Standard status
Active
Size
4,300 SF
Total Parking Spaces
9
Property subtype
Multi-Unit / Triplex
Zoning
C-M
Units
Multifamily Units
2
Office Units
1
Taxes and HOA fees
Annual Taxes
$6,500
Amenities
garage
patio
Yes
0.0
Asphalt
Building Details
Year Built
1953
Tenancy
Multi
Listing Agency:
POLLOCK REAL ESTATE, INC.
Listed By:
Sanford Pollock · License #RM422822
(412) 310-1172
Source:
Compass
Added: May 13
Changed: Aug 8
Last Checked: Jul 23 at 6:36AM
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 POLLOCK REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This zoned-commercial property is currently configured as three separate units: two two-bedroom units and one one-bedroom unit operating as an office. The building includes a renovated main house totaling 4,300 square feet, along with an attached two-story addition.
The property offers a garage and patio, and tenants reimburse utilities. The layout provides flexibility for a buyer seeking a primarily commercial use, primarily residential use, or a combination of home and office with income.
Income and expense details are available upon signing a confidentiality agreement. The listing agent is part of the ownership. The property may be sold together with a related listing identified as 9120 Perry Hwy (Listing number 1710096).
The property offers a garage and patio, and tenants reimburse utilities. The layout provides flexibility for a buyer seeking a primarily commercial use, primarily residential use, or a combination of home and office with income.
Income and expense details are available upon signing a confidentiality agreement. The listing agent is part of the ownership. The property may be sold together with a related listing identified as 9120 Perry Hwy (Listing number 1710096).
Key Highlights
- Zoned commercial; currently set up as 3 separate units (two 2‑bedroom units and one 1‑bedroom unit used as an office)
- 4300 SF renovated house with an attached two‑story addition
- One 1‑bedroom office unit included; property can be used commercially or residentially
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
$54,931
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
7.32%
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%
$1,098,620
$1.1M
Cap Rate 7%
$784,729
$784.7K
Cap Rate 9%
$610,344
$610.3K
Market Conditions
NOI Build-Up for 4,300 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
$97.0K $22.56/SF
− Vacancy
−$23.8K −$5.53/SF
EGI
$73.2K $17.03/SF
− OpEx
−$18.3K −$4.26/SF
NOI
$54.9K $12.77/SF
Area
ZIP 15237
Vacancy
24.50%
Lease Rate
$22.56 /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%
$1,098,620
Cap Rate 7%
$784,729
Cap Rate 9%
$610,344
Alternative Uses
Best Use
Office B
$784.7K
$686.6K – $915.5K
NOI $54,931 @ 7.0% cap · market cap 7.32%
Second Best
Multifamily LT 5
$699.6K
$612.1K – $816.2K
NOI $48,970 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,862 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 15237, PA
45,670
Population
19,332
Households
2.4
Avg Household Size
43
Median Age
58%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,895
Density / Sq Mi
$108,538
Median Household Income
$64,006
Median Earnings
$1,327
Median Rent
$306,900
Median Home Value
Market
Vacancy Rate% for Office in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate units include two two-bedroom residences and a one-bedroom office unit.
Where is this triplex located?
The property is located at 9140 Perry Highway Pittsburgh, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Zoned commercial; currently set up as 3 separate units (two 2‑bedroom units and one 1‑bedroom unit used as an office); 4300 SF renovated house with an attached two‑story addition; One 1‑bedroom office unit included; property can be used commercially or residentially
