Listing Agency: Hanna Commercial Real Estate - Pittsburgh

Listed By: Michael Connor · License #PA RS330446 Show Phone

Source: Crexi

Added: Sep 27, 2024 Changed: Oct 19 Last Checked: Oct 19 at 6:55AM

Report an Issue

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 Hanna Commercial Real Estate - Pittsburgh

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 8,808 square-foot freestanding building includes 2,652 square feet of office space and 6,156 square feet of warehouse space. A 3,438 square-foot mezzanine is present but not included in the rentable square footage. The office area features a reception area, one private office, and open office areas. The warehouse includes a lunchroom, shipping office, and conference/training room. There are two full sets of restrooms, plus a shop restroom with an eyewash station. A 1/2-ton freight lift provides access to the mezzanine. The property is equipped with 800 amps of 120/208V power. The warehouse portion is 70% sprinklered. Access to the warehouse is provided by one 12’ x 14’ electric drive-in door. HVAC is provided by gas-fired roof-top units and gas-fired space heaters in the warehouse. Ceiling heights in the warehouse are 16’9” for 2,718 square feet, and 7’11” under the mezzanine. There are 16 parking spaces available, providing a ratio of 1.82 spaces per 1,000 rentable square feet.

Key Highlights

• 8,808 SF Free‑Standing Building
• Features 2,652 SF of Office space and 6,156 SF of Warehouse space
• High Power Capacity: 800 amp 120/208 V

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,664

Cap Rate

3.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,033,280 $1.0M

Cap Rate 7%

$738,057 $738.1K

Cap Rate 9%

$574,044 $574.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,808 SF

Gross rent

$84.6K $9.60/SF

− Vacancy

−$5.1K −$0.58/SF

EGI

$79.5K $9.02/SF

− OpEx

−$27.8K −$3.16/SF

NOI

$51.7K $5.87/SF

Area

Pittsburgh, PA

Vacancy

6.00%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,033,280

Cap Rate 7%

$738,057

Cap Rate 9%

$574,044

Alternative Uses

Best Use

Flex RnD

$738.1K

$645.8K – $861.1K (±1% cap)

NOI $51,664 @ 7.0% cap · market cap 3.56%

Second Best

Industrial

$710.7K

$621.8K – $829.1K (±1% cap)

NOI $49,747 @ 7.0% cap · market cap 3.43%

Theoretical Best

Office A

$2.81M

$2.45M – $3.27M (±1% cap)

NOI $196,361 @ 7.0% cap · market cap 13.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Airline Hydraulics Building Supply

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Storage Facility Electrical Service Garden Center Furniture & Home Goods

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

594

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 15238, PA

13,266

Population

6,001

Households

2.2

Avg Household Size

47

Median Age

75%

College-Educated

97%

High-School Grad

15.8 sq mi

ZIP Area

840

Density / Sq Mi

$124,904

Median Household Income

$78,510

Median Earnings

$1,189

Median Rent

$452,300

Median Home Value

Market

Vacancy Rate% for Industrial in Pittsburgh, PA

6.6% 2019

6.6% 2020

6.3% 2021

4.9% 2022

5.3% 2023

6% 2024

6.5% 2025

Similar For Sale Nearby

See more

Three-Story Flex Warehouse Building

2101 Ardmore Blvd, Pittsburgh, PA 15221

$399,000

10,313 SF

View details

Automotive Service and Warehouse Facility

12827 Frankstown Rd, Pittsburgh, PA 15235

$1,380,000

33,048 SF

View details

Flex Space with Garage

7419 Washington Ave, Pittsburgh, PA 15218

$300,000

View details

Warehouse with Fenced Side Yard

84 Dawn Avenue, Pittsburgh, PA 15226

Contact for pricing

7,535 SF

View details

Warehouse and Flex Building

6328 Butler St, Pittsburgh, PA 15201

$450,000

4,870 SF

View details

Flex Space with Fenced Dedicated Parking

207 16th Street, Pittsburgh, PA 15222

Contact for pricing

7,124 SF

View details

Flex Office Warehouse with Yard

1641 Saw Mill Run Boulevard, Pittsburgh, PA 15210

$500,000

3,600 SF

View details

Flex Space with Loading Docks

3509 Smallman St, Pittsburgh, PA 15201

Contact for pricing

View details

Sharpsburg Flex Building with Office

1881 Main St, Pittsburgh, PA

Contact for pricing

5,000 SF

View details

Adaptable Flex Space Opportunity

850 Poplar St |, Pittsburgh, PA 15220

$2,950,000

View details

Fully Sprinklered Industrial Flex Building

6301 Butler Street, Pittsburgh, PA 15201

$5,500,000

View details

Flex Space with Roll-Up Door

2800 Penn Ave, Pittsburgh, PA 15222

Contact for pricing

20,000 SF

View details

Similar Off Market Nearby

• Graze Craze Charcuterie Boards & Boxes — 1153 Old Freeport Rd, Pittsburgh, PA 15238

Frequently Asked Questions

What type of property is this?

Flex space - 8,808 SF flex building featuring office and warehouse space.

Where is this flex space located?

The property is located at 145 Delta Dr Pittsburgh, PA.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: 8,808 SF Free‑Standing Building; Features 2,652 SF of Office space and 6,156 SF of Warehouse space; High Power Capacity: 800 amp 120/208 V