[Commercial retail+apartments] 324 E 8th Ave — Heart of Homestead, 15120 For Sale

  • $378,500
  • ≈8,250 (GROSS) sqft

*Heart of Homestead on the 8th Avenue strip


A *clean shell* of a commercial building in the Redevelopment District.
Everything’s been removed, down to the boiler/H2O tank.
County use: 404 – Retail/Apartments Over

Approx. 3,600 feet/floor. LL is/was “Build-to-Suit” storefront w/a bay window.

Most recent rents:

  • lower level: local hardware store (moved across the street) – $2,500/month + all utilities
  • upper level: a contractor – $2,500/month + all utilities

 

Capitalize @≈12% → 14% (see 8th pic for possible scenarios).

 

Potential options:

  1. rent each floor for $2,500 again (gathered $5k/month for a long time)
  2. turn upper floor into a few apartments for a few more thousand in monthly rents (*it’s already zoned for optional apartments on the upper level!)
  3. add a rooftop deck
    • as a rental for events
      or
    • to charge high-end rents to apartment-tenants, should you go that route

  • Taxes: $4,018
  • Electric: Updated & on
  • Plumbing: Updated
  • Bath: Functional (all; total: 2)
  • Roof: Flat; asphalt
  • Furnace: Was a boiler; removed
  • Hot Water Tank: Removed
  • Windows: Good
  • Floors: 2.5
  • Parking: Retail/street
  • Rental Potential: $5,000 minimum/mo
Price:
$378,500
Address:
324 E 8th Ave
Heart of Homestead, PA 15120
Square Feet:
≈8,250 (GROSS)
Lot Size:
2,750 (25x110)
Terms:
For Sale
Property Type:
Commercial
Basement:
Full
Const. Type:
Brick

Call (800) 788-9882 for more details

Property Location