Building Details

Tenancy Multi

Listing Agency: PIATT SOTHEBY'S INTERNATIONAL REALTY j***@piattsir.com

Listed By: Dani Gundlach Show Phone

Source: Exprealty

Added: Jan 8 Changed: Aug 21 Last Checked: Sep 1 at 11:55PM

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 PIATT SOTHEBY'S INTERNATIONAL REALTY

Investment Insights

Based on property information with market context.

A fully renovated circa 1900 former Pennsylvania Railroad station offers a total building size of approximately 2,586 SF on about 0.46 acres. The property is presented as 100% leased under triple-net (NNN) terms, with tenants responsible for pro-rata common area maintenance, taxes, and insurance, while the landlord’s responsibility is limited to the roof.

Leasing includes Subway (approximately 1,100 SF) with a 5-year term starting in 2024 and three 5-year option periods with 10% increases. Cigars & Ash (approximately 1,100 SF) carries a 5-year term starting in 2025 with three 5-year option periods with 10% increases. Base rent is listed at about $36,000 per year for Subway and about $30,000 per year for Cigars & Ash, with the property described as high visibility along Route 65 and offering ample parking.

Key Highlights

• Circa 1900 former Pennsylvania Railroad station building fully renovated and 100% leased under triple‑net (NNN) terms
• About 2,586 SF on 0.46 acres along the Ohio River
• NNN lease structure: tenants cover pro‑rata common area maintenance, taxes, and insurance; landlord limited to roof

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

$30,140

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

4.31%

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%

$602,800 $602.8K

Cap Rate 7%

$430,571 $430.6K

Cap Rate 9%

$334,889 $334.9K

Market Conditions

NOI Build-Up for 2,586 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

$46.5K $18.00/SF

− Vacancy

−$3.5K −$1.35/SF

EGI

$43.1K $16.65/SF

− OpEx

−$12.9K −$5.00/SF

NOI

$30.1K $11.66/SF

Area

Allegheny County, PA

Vacancy

7.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

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%

$602,800

Cap Rate 7%

$430,571

Cap Rate 9%

$334,889

Alternative Uses

Best Use

Retail

$430.6K

$376.8K – $502.3K (±1% cap)

NOI $30,140 @ 7.0% cap · market cap 4.31%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$658.7K

$576.4K – $768.5K (±1% cap)

NOI $46,109 @ 7.0% cap · market cap 6.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Hair Salon Spa & Massage Center Auto Parts Store

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

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

288

Businesses Nearby

55k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 48% Dining 29% Shops & Services 23%

Giant Eagle Supermarket Groceries

26,359 visits/mo 0.4 miles

Wendy's Dining

14,113 visits/mo 0.4 miles

GetGo Gas Station Shops & Services

12,320 visits/mo 0.4 miles

SUBWAY Dining

1,916 visits/mo 0.5 miles

Bob Sumerel Tire Shops & Services

118 visits/mo 0.2 miles

Demographics for 15056, PA

1,092

Population

587

Households

1.9

Avg Household Size

44

Median Age

42%

College-Educated

97%

High-School Grad

0.9 sq mi

ZIP Area

1,213

Density / Sq Mi

$66,176

Median Household Income

$51,763

Median Earnings

$990

Median Rent

$135,000

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

Frequently Asked Questions

What type of property is this?

NNN property - Fully renovated circa 1900 station building is 100% leased under triple-net terms.

Where is this nnn property located?

The property is located at 99 Ohio River Blvd Leetsdale, PA.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Circa 1900 former Pennsylvania Railroad station building fully renovated and 100% leased under triple‑net (NNN) terms; About 2,586 SF on 0.46 acres along the Ohio River; NNN lease structure: tenants cover pro‑rata common area maintenance, taxes, and insurance; landlord limited to roof