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    Mixed-Use Plaza in Forest Hills Title is generated by Realmo AI

    2600 Ardmore Blvd, Pittsburgh, PA 15221

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    Retail and office space on 5.48 acres with ample parking.

    Type:Office, Retail
    Property size:
    145,632 SF
    Lot size:
    5.48 Acres
    Added:
    Nov 12, 2024
    Days on Market:
    561
    Last Refresh:
    May 12 at 10:53 pm

    Property Features for 2600 Ardmore Blvd

    General Information

    Standard status
    Active
    Size
    145,632 SF
    Lot size
    5.48 Acres
    Property subtype
    Office, Retail

    We can help!

    Listing Contact
    Andreas Kamouyerou

    Listing agent Andreas Kamouyerou License #PA RS340004

    Listing office SVN | Three Rivers Commercial Advisors

    Listing date Nov 12, 2024

    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 SVN | Three Rivers Commercial Advisors

    HighLights

    • High traffic location on Route 30 (Ardmore Blvd/Lincoln Hwy) with 24,065+ ADT and 900'+ frontage.
    • Large parking capacity with 642 surface spaces and 38 underground garage spaces.
    • Located in the Parkway East Corridor submarket with great visibility.
    • Mix of retail and office space across 3 buildings.
    • Multiple access points with 7 curb cuts via Yost Blvd, 3 from Ardmore Blvd, and 3 from Rockwood Ave.
    • Surrounded by a large residential population and located on a bus line.

    Overview

    Forest Hills Plaza, located at 2400 Ardmore Blvd, 2600 Ardmore Blvd, and 21 Yost Blvd in Forest Hills, PA, is available for sale. The property includes three buildings offering a mix of retail and office spaces. Situated on 5.48 acres, the site provides 642 surface parking spaces along with 38 underground parking garage spaces. The location on Ardmore Blvd, also known as Lincoln Hwy or Route 30, benefits from over 900 feet of frontage and an average daily traffic count exceeding 24,065 vehicles. Access is facilitated by seven curb cuts via Yost Blvd, three curb cuts from Ardmore Blvd, and three curb cuts from Rockwood Ave. The property is positioned on Route 30, offering visibility within the Parkway East Corridor submarket. It is located in an area with a large residential population and is accessible via a bus line. The property has a total size of 145632 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jodi B's Restaurant Restaurant Tj's Pub Nightclub Domino's Pizza Take-out & Catering

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Forest Hills Shopping Center — 2324 Ardmore Blvd, Pittsburgh, PA 15221
    • Coinstar Kiosk | Bitcoin ATM — Giant Eagle, 254 Yost Blvd, Pittsburgh, PA 15221

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.8457909
    Latitude
    40.4134921

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    FAQs

    What type of property is this?
    Shopping center - Retail and office space on 5.48 acres with ample parking.
    Where is this shopping center located?
    The property is located at 2600 Ardmore Blvd Pittsburgh, PA.
    What are key features of this property?
    This property features: High traffic location on Route 30 (Ardmore Blvd/Lincoln Hwy) with 24,065+ ADT and 900'+ frontage.; Large parking capacity with **642 surface spaces and 38 underground garage spaces**.; Located in the **Parkway East Corridor submarket with great visibility**.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andreas Kamouyerou
    Real Estate License ID: PA RS340004
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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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