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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    624 North Ave Millvale, PA 15209

    • Commercial real estate
    • 0.15 lot acres
    For Sale
    View listing
    $425,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4247898
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Knock About Coffee / Coffee Stand
    • Las Chicas / Takeout Restaurant
    • Davis andkoehler / Apartment Building

    Property Details for 624 North Ave

    Lot size
    0.15 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional Millvale commercial property presents a unique opportunity for a food-focused entrepreneur. Priced at $425,000, this turnkey operation boasts a brand-new, state-of-the-art kitchen designed for maximum efficiency. The kitchen features a recently installed Ansul hood system and three-phase electrical service, crucial for high-volume food preparation. A significant advantage is the inclusion of a watertight shipping container on the 0.15-acre lot. This container is stocked with a range of high-end commercial-grade tools and everyday supplies, providing immediate operational readiness. Security is paramount, with a secure, steel commercial door equipped with a self-locking mechanism and panic bar ensuring both safety and convenient access. The property's substantial drive-through parking lot is a rare find in Millvale, offering significant flexibility for customer access and business operations. This property is ready for immediate occupancy, offering built-in revenue potential and the versatility to adapt to various food-service concepts. The combination of a fully equipped kitchen, ample parking, and included equipment makes this an exceptional investment opportunity in a thriving location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Millvale
    County
    Allegheny-North
    State
    Pennsylvania
    Longitude
    -79.97308
    Latitude
    40.48622

    Comparable in this City

    • $595,000
      0.04 Acres

      Millvale Business: Turnkey & Thriving

      Established Bar & Restaurant, High Traffic Area
      623 North Ave, Millvale, PA 15209
      View Details
    • $249,000
      2.35 Acres

      Prime Commercial Land, Pittsburgh

      2.35 Acres, High Traffic Area
      1650 Evergreen Ave, Pittsburgh, PA 15209
      View Details
    • $499,000
      0.04 Acres

      Turn-Key Business in Millvale, PA

      Fully operational business with building and liquor licenses for sale.
      623 North Ave, Pittsburgh, PA 15209
      View Details
    • $105,000
      0.26 Acres

      Millvale Office Redevelopment Opportunity

      Prime Millvale location, redevelopment potential.
      504 Stanton Ave, Millvale, PA 15209
      View Details
    • $499,000

      Turn-Key Millvale Bar & Restaurant

      Fully operational bar and restaurant with real estate and licenses.
      623 North Ave, Pittsburgh, PA 15209
      View Details
    • $350,000
      4,000 SF

      Retail Property on 5th Avenue

      Retail property available for sale, Pittsburgh, Pennsylvania.
      5th Avenue, Pittsburgh, PA 15209
      View Details

    Similar Nearby for Sale

    • $595,000
      0.04 Acres

      Millvale Business: Turnkey & Thriving

      Established Bar & Restaurant, High Traffic Area
      623 North Ave, Millvale, PA 15209
      View Details
    • $249,000
      2.35 Acres

      Prime Commercial Land, Pittsburgh

      2.35 Acres, High Traffic Area
      1650 Evergreen Ave, Pittsburgh, PA 15209
      View Details
    • $499,000
      0.04 Acres

      Turn-Key Business in Millvale, PA

      Fully operational business with building and liquor licenses for sale.
      623 North Ave, Pittsburgh, PA 15209
      View Details
    • $105,000
      0.26 Acres

      Millvale Office Redevelopment Opportunity

      Prime Millvale location, redevelopment potential.
      504 Stanton Ave, Millvale, PA 15209
      View Details
    • $499,000

      Turn-Key Millvale Bar & Restaurant

      Fully operational bar and restaurant with real estate and licenses.
      623 North Ave, Pittsburgh, PA 15209
      View Details
    • $350,000
      4,000 SF

      Retail Property on 5th Avenue

      Retail property available for sale, Pittsburgh, Pennsylvania.
      5th Avenue, Pittsburgh, PA 15209
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Updated Office Space in Millvale

      First floor office wing in historic Sample School building.
      820 Evergreen Ave, Pittsburgh, PA 15209
      View Details
    • $2,500 /Mo
      1,420 SF

      Retail Space in High-Traffic Area

      Retail space in Millvale, PA, with exposed brick and large windows.
      201 North Ave, Pittsburgh, PA 15209
      View Details
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    624 North Ave
    Millvale, PA 15209
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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.

    More about this property
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