Two-Level Medical Office
For Sale
$280,000
985 Penn St, Brackenridge, PA 15014
CommercialSale, Brackenridge, PA
Property Size5,000 SF
Lot Size0.24 Acres
Price / SF$56
Days on Market21
Property Features for 985 Penn St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C1
Zoning description
C1
Subdivision
Brackenridge
Standard status
Active
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
8140
Building Details
Year built
1981
Listing Agency:
REALTY ONE GROUP LANDMARK
Listed By:
Morgan Iseman · License #RS350880
(724) 468-8841
Added: Aug 21
Changed: Sep 9
Last Checked: Sep 10 at 9:06AM
MLS# 1770903
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story medical office property contains 2,500 square feet on each floor within a building constructed in 1981. The lower level has been fully renovated and is ready for occupancy, while the upper floor is occupied by a long-standing tenant. Each level has a designated parking area, with additional off-street parking and a grassy side yard on the 0.2356-acre parcel.
Located at 985 Penn St in Brackenridge, Pennsylvania, the property offers access to Route 28 and visibility from its commercial setting. C1 zoning supports its current medical office use. The two-floor layout provides separate areas for occupancy, operations, or future configuration while retaining established tenant use on the upper level.
Located at 985 Penn St in Brackenridge, Pennsylvania, the property offers access to Route 28 and visibility from its commercial setting. C1 zoning supports its current medical office use. The two-floor layout provides separate areas for occupancy, operations, or future configuration while retaining established tenant use on the upper level.
Key Highlights
- 2,500 square feet on each of two floors
- Fully renovated lower level ready for occupancy
- Upper floor occupied by a long‑standing tenant
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
$22,864
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
8.17%
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%
$457,280
$457.3K
Cap Rate 7%
$326,629
$326.6K
Cap Rate 9%
$254,044
$254.0K
Market Conditions
NOI Build-Up for 5,000 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
$40.8K $8.16/SF
− Vacancy
−$2.7K −$0.54/SF
EGI
$38.1K $7.62/SF
− OpEx
−$15.2K −$3.05/SF
NOI
$22.9K $4.57/SF
Area
Allegheny County, PA
Vacancy
6.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
40.00%
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%
$457,280
Cap Rate 7%
$326,629
Cap Rate 9%
$254,044
Alternative Uses
Best Use
Office B
$912.5K
$798.4K – $1.06M
NOI $63,873 @ 7.0% cap · market cap 22.81%
Second Best
Healthcare Medical
$326.6K
$285.8K – $381.1K
NOI $22,864 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,150 @ 7.0% cap · market cap 31.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15014, PA
3,165
Population
1,747
Households
1.8
Avg Household Size
44
Median Age
15%
College-Educated
93%
High-School Grad
0.5 sq mi
ZIP Area
6,330
Density / Sq Mi
$52,734
Median Household Income
$36,701
Median Earnings
$763
Median Rent
$87,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - C1-zoned commercial property with separate parking areas and a renovated lower level.
Where is this medical office space located?
The property is located at 985 Penn St Brackenridge, PA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2,500 square feet on each of two floors; Fully renovated lower level ready for occupancy; Upper floor occupied by a long‑standing tenant
