Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Intersection Of Shady + Penn Avenues Pittsburgh, PA 15206
    Back to Search
    Property profile & analytics

    Intersection Of Shady + Penn Avenues Pittsburgh, PA 15206

    View on Map
    • Retail properties & Spaces
    • 78,386 SF
    For Lease
    View Listing →
    Meridian Retail Center: Allegheny County For Lease
    Contact for pricing

    Meridian Retail Center: Allegheny County

    Prime Retail Space Available: Multiple Suites, Ample Parking

    0 Intersection Of Shady + Penn Avenues, Pittsburgh, PA 15206
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Intersection Of Shady + Penn Avenues

    Property size
    78,386 SF
    Property type
    Retail properties & Spaces

    Description

    The Meridian, a prominent Allegheny County retail center, offers exceptional leasing opportunities. This 78,386 square foot property features seven total suites, with five currently available for lease. The flexible space allows for a variety of retail concepts, with minimum divisible space starting at 1,889 square feet and maximum contiguous space reaching 5,003 square feet. This presents a unique chance for businesses seeking a range of sizes to accommodate their needs. Currently, 22,815 square feet of retail space is vacant, providing significant potential for growth and expansion. The property boasts convenient access and ample parking, with a total of 122 spaces available for customers and employees. Its strategic location within Allegheny County ensures high visibility and accessibility for potential customers. The multiple tenancy structure allows for a diverse mix of businesses, creating a vibrant and attractive shopping destination. This is an exceptional opportunity to secure prime retail space in a thriving commercial area. Interested parties are encouraged to inquire about available suites and lease terms. The property is categorized as commercial retail, offering a versatile space suitable for a wide array of retail businesses. The building's size and layout provide flexibility for various business models and expansion plans.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.9207
    Latitude
    40.4598

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      211 Negley Ave

      Land • 1.00 Acre
      211 Negley Ave, Pittsburgh, PA 15206
      View Details
    • Value Estimation by Request
      0.38 Acres

      144 Julius St

      Land • 5,900 SF
      144 Julius St, Pittsburgh, PA 15206
      View Details
    • Value Estimation by Request
      0.22 Acres

      250 Highland Ave

      DEPARTMENT STORE • 0.22 Acres
      250 Highland Ave, Pittsburgh, PA 15206-3013
      View Details
    • Value Estimation by Request

      135 Highland Ave

      Restaurants
      135 Highland Ave, Pittsburgh, PA 15206
      View Details
    • Value Estimation by Request
      42,989 SF

      6215 Spirit St

      Retail properties & Spaces • 42,989 SF
      6215 Spirit St, Pittsburgh, PA 15206
      View Details
    • Value Estimation
      $575,000
      7.97 Acres

      400 Highland Ave

      DEPARTMENT STORE • 7.97 Acres
      400 Highland Ave, Pittsburgh, PA 15206-2927
      View Details

    Similar Nearby for Sale

    • $995,000

      East Liberty Mixed-Use Redevelopment

      Three-story mixed-use building in high-traffic East Liberty.
      6015-6017 Penn Ave, Pittsburgh, PA 15206
      View Details
    • Contact for pricing
      5,900 SF

      Commercial Land For Sale

      Commercial land available for sale.
      144 Julius St, Pittsburgh, PA 15206
      View Details
    • Contact for pricing
      6,724 SF

      Retail Property in Pittsburgh, PA

      6,724 SF retail property on 0.3 AC for sale.
      1800 Morningside Ave, Pittsburgh, PA 15206
      View Details
    • $1,200,000
      18,842 SF

      East Liberty Mixed-Use Redevelopment

      Three-story building, high traffic area, redevelopment opportunity.
      6015-6017 Penn Avenue, Pittsburgh, PA 15206
      View Details
    • $450,000
      3,000 SF

      Pittsburgh Auto Business Opportunity

      Spacious garage, office, & loft apartment.
      825 Lincoln Ave, Pittsburgh, PA 15206
      View Details
    • Contact for pricing

      Prime Shadyside Retail Opportunity

      Retail space in Shadyside, across from Giant Eagle development.
      236 Shady Ave, Pittsburgh, PA 15206
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease in Pittsburgh, Pennsylvania.
      211 N Negley Ave, Pittsburgh, PA 15206
      View Details
    • Contact for pricing
      78,386 SF

      Meridian Retail Center: Allegheny County

      Prime Retail Space Available: Multiple Suites, Ample Parking
      0 Intersection Of Shady + Penn Avenues, Pittsburgh, PA 15206
      View Details
    • Contact for pricing

      Bakery Square Mixed-Use Destination

      Mixed-use property in Pittsburgh's East End, featuring retail, office.
      6425 Penn Ave, Pittsburgh, PA 15206
      View Details
    • Contact for pricing

      Mixed-Use Property in Pittsburgh, PA

      4-acre mixed-use property with retail, restaurant, and residential spaces.
      6215 Spirit St, Pittsburgh, PA 15206
      View Details
    • Contact for pricing

      6401 Penn Ave, Pittsburgh, PA 15206

      Retail space
      6401 Penn Ave, Pittsburgh, PA 15206
      View Details
    • Contact for pricing

      Shopping Center on Centre Avenue

      155,000 sq ft shopping center spanning three blocks.
      5932 Centre Ave, Pittsburgh, PA 15206
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Intersection Of Shady + Penn Avenues
    Pittsburgh, PA 15206
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Intersection Of Shady + Penn Avenues, Pittsburgh, PA, 15206
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!