Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    220-234 Chesna Drive Pittsburgh, PA 15234
    Back to Search
    Property profile & analytics

    220-234 Chesna Drive, Pittsburgh, PA 15234

    View on Map
    • Residential income homes
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 220-234 Chesna Drive

    Property type
    Residential income homes
    Property subtype
    Residential income properties

    Description

    SVN | Three Rivers Commercial Advisors is pleased to present this 8 Unit investment opportunity. The property consists of 2 buildings comprising 4 townhomes in each building. Property was built in 1992 and there have been several recent capital expenditures including remodeling 4 units, replacing the roofs, gutters and downspouts, as well as a few windows. The unit mix is (4) 3-bed/ 2 bath units, and (4) 2 bed/ 1.5 bath units. These units are oversized, each with 2 car garages and balconies/ decks and sit amongst beautiful mature landscaping. Historic strong occupancy with in place tenancy and cashflow. Additional VALUE-ADD by remodeling remaining 4 units and raising rents to market rate or units can be subdivided and sold individually. Tenants responsible for all utilities. Owner pays landscaping and snow removal. Excellent South Hills location just 7 miles to downtown Pittsburgh and less than 1 mile from Caste Village, Cool Springs Sports Complex, Memorial Hall T-stop and all other area shopping/ dining. Convenient to Routes, 88, 51 and 19.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    State
    Pennsylvania
    Longitude
    -80.0131
    Latitude
    40.3596

    Comparable in this City

    • Value Estimation by Request
      15,662 SF

      220-234 Chesna Dr

      Multifamily properties
      220-234 Chesna Dr, Pittsburgh, PA 15234
      View Details
    • Value Estimation by Request
      0.77 Acres

      2544 Library Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      2544 Library Rd, Pittsburgh, PA 15234-3106
      View Details
    • Value Estimation by Request
      0.46 Acres

      999 Killarney Dr

      OFFICE/RESIDENTIAL (MIXED USE)
      999 Killarney Dr, Pittsburgh, PA 15234-2652
      View Details
    • Value Estimation by Request
      0.14 Acres

      2405 Saw Ml Run Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      2405 Saw Ml Run Blvd, Pittsburgh, PA 15234-3006
      View Details
    • Value Estimation by Request
      0.16 Acres

      1115 Castle Shannon Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      1115 Castle Shannon Blvd, Pittsburgh, PA 15234-1805
      View Details
    • Value Estimation by Request
      0.68 Acres

      3912 Library Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      3912 Library Rd, Pittsburgh, PA 15234-1844
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Investment Opportunity

      Multi-family and mixed-use property in a high-traffic location.
      7 Glenbury St, Pittsburgh, PA 15234
      View Details
    • $179,900

      Duplex Near Library Road

      Up-and-down duplex with separate entries and off-street parking.
      1260 Grove Rd, Pittsburgh, PA 15234
      View Details
    • New
      $280,000
      0.05 Acres

      Mixed-Use Hotel and Tavern

      Mixed-use property with a main-level tavern/restaurant and eight occupied boarding-style one-bedroom units above.
      900 Park Ave, Castle Shannon, PA 15234
      View Details
    • $255,000

      Spacious Duplex in Castle Shannon

      Vacant up/down duplex with character in a fantastic location.
      3672 Myrtle Ave, Pittsburgh, PA 15234
      View Details
    • $249,900
      0.42 Acres

      Overbrook Land Near Major Routes

      Two commercial parcels totaling 0.4224 acres near Route 51/88.
      2713-15 Library Rd, Pittsburgh, PA 15234
      View Details
    • $325,000
      0.48 Acres

      Adaptable Commercial Space For Sale

      Versatile commercial property in Castle Shannon, ideal for various businesses.
      3433 Willow Ave, Castle Shannon, PA 15234
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      850 SF

      Office Space Available For Rent

      Office space available for rent in Pittsburgh, Pennsylvania.
      3757 Library Rd, Pittsburgh, PA 15234
      View Details
    • Contact for pricing

      Commercial Suites on Library Road

      Two suites available for lease with high visibility and access.
      4136 Library Rd, Castle Shannon, PA 15234
      View Details
    • $24 SF/Yr
      5,000 SF

      Office Space Available For Rent

      5,000 square foot office space available for lease.
      929 Park Ave, Pittsburgh, PA 15234
      View Details
    • Contact for pricing
      1,514 SF

      Retail Space in Cool Springs

      1,514 SF retail space with high visibility available for rent.
      1001 Cool Spg Dr, Pittsburgh, PA 15234
      View Details
    • Contact for pricing

      Versatile Commercial Property on Library Road

      Two suites available for lease with high visibility and accessibility.
      4136 Library Rd, Castle Shannon, PA 15234
      View Details
    • Contact for pricing
      676 SF

      Office Space Available For Rent

      736 square feet of office space for lease.
      250 Mount Lebanon Blvd, Pittsburgh, PA 15234
      View Details
    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.
    220-234 Chesna Drive
    Pittsburgh, PA 15234
    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
    220-234 Chesna Drive, Pittsburgh, PA, 15234
    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!