Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    929 Sheraton Dr Mars, PA 16046-9431

    • Motels
    • 1.88 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2024
    $2,250,000
    Value Estimations
    $2,250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2281272
    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

    • Motels

    Property Details for 929 Sheraton Dr

    Lot size
    1.88 lot acres
    Property type
    Motels
    APN
    2372-J-7
    APU
    2372J7

    Description

    This three-story, 67-key hotel in Mars, Pennsylvania, presents a compelling investment opportunity. Boasting 26,838 square feet on a 1.88-acre lot, the property enjoys excellent highway visibility and is conveniently located near the Cranberry Shopping Center, just 18 miles from Pittsburgh. Built in 1996 and extensively renovated in 2024, the hotel features attractive amenities including whirlpool suites and a two-room owner's living quarters. The property's prime location, coupled with its recent renovations and the potential for further enhancements, makes it an ideal acquisition for investors seeking a foothold in the thriving hospitality sector. The asking price is $2,800,000, translating to $104.33 per square foot. The single building sits on a sizable lot, offering ample space for potential expansion or future development. This turnkey operation is ready for a new owner to capitalize on its established presence and strong location. The hotel's proximity to Pittsburgh and its convenient access to major roadways ensure a steady stream of potential guests.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,250,000
      ML approach
      $2,250,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mars
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.0958
    Latitude
    40.6712
    CBSA code
    38300
    CBSA name
    PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $59,555
    $658,000
    $1,642,300
    $2,300,300
    -
    $658,000
    $1,642,300
    $2,300,300

    Comparable in this City

    • Value Estimation by Request
      1.48 Acres

      924 Sheraton Dr

      HOTEL • 1.48 Acres
      924 Sheraton Dr, Mars, PA 16046-9414
      View Details
    • Value Estimation by Request
      12.44 Acres

      910 Sheraton Dr

      HOTEL • 12.44 Acres
      910 Sheraton Dr, Mars, PA 16046-9432
      View Details
    • Value Estimation by Request
      0.65 Acres

      Of Peters Rd

      COMMERCIAL (GENERAL) • 0.65 Acres
      Of Peters Rd, Mars, PA 16046
      View Details
    • Value Estimation by Request
      11.45 Acres

      500 Wittenberg Way

      COMMERCIAL (GENERAL) • 11.45 Acres
      500 Wittenberg Way, Mars, PA 16046-3452
      View Details
    • Value Estimation by Request
      4.42 Acres

      234 Clay Avenue Ext, Unit EX

      INDUSTRIAL (GENERAL) • 4.42 Acres
      234 Clay Avenue Ext, Mars, PA 16046-3422
      View Details
    • Value Estimation by Request
      1.03 Acres

      200 Adams Shoppes

      COMMERCIAL (GENERAL) • 1.03 Acres
      200 Adams Shoppes, Mars, PA 16046-3967
      View Details

    Similar Nearby for Sale

    • $395,000
      0.80 Acres

      Mars Office Building: Prime Location

      Charming Mars Office, Ample Parking, 3000 SF
      195 Crowe Ave, Mars, PA 16046
      View Details
    • $3,950,000
      2.06 Acres

      Mars Office Building - Prime Location

      Three-story office building, 2.06 acres, great owner/user opportunity.
      518 Myoma Rd, Mars, PA 16046
      View Details
    • $1,700,000
      3.60 Acres

      Prime Mars Commercial Land

      3.6 Acres, High Visibility, Development Ready
      530 Route 228, Mars, PA 16046
      View Details
    • $365,000

      Adams Pointe Townhouse with Amenities

      Three-bedroom townhouse in amenity-rich community, convenient location.
      2104 Pointe View Dr, Mars, PA 16046
      View Details
    • $2,950,000
      12,000 SF

      Mars, PA Office Building - $2.95M

      12,000 SF Office Building, Vacant, High-End Finishes
      150 Scharberry Ln, Mars, PA 16046
      View Details
    • $3,950,000

      Cranberry Three-Story Office Building

      Three-story office building in Cranberry, constructed in 2011.
      518 Myoma Rd, Mars, PA 16046
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,100 SF

      Class A Office Space Available

      Modern office suites with amenities in Cranberry Township.
      300 Seven Fields Blvd, Seven Fields, PA 16046
      View Details
    • $33 SF/Yr
      5,877 SF

      Retail Space in Mars, PA

      Located in a major retail corridor with high accessibility.
      215 Scharberry Ln, Mars, PA 16046
      View Details
    • Sponsored
      New
      Contact for pricing

      PA, Seven Fields - Northpointe Cir

      Entire center
      300 Fl 7 Fld 16046, Seven Fields, PA 16046
      View Details
    • Contact for pricing
      23,000 SF

      Mars Retail Center - 23,000 SF

      Prime Mars, PA retail space. High-growth area.
      637 Route 228, Mars, PA 16046
      View Details
    • Contact for pricing
      3,231 SF

      Class A Office Space Available

      Scenic office campus with Class A office spaces for rent.
      400 Northpointe Cir, Seven Fields, PA 16046
      View Details
    • $850,000

      Versatile Commercial Space with Warehouse

      Spacious flex space with warehouse, offices, and multiple garages.
      198 Crowe Ave, Mars, PA 16046
      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.
    929 Sheraton Dr
    Mars, PA 16046-9431
    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

    Google sign-in failed. Please try again or use another login method.