2215 Ardmore Blvd, Pittsburgh, PA for sale

Investment Overview

SVN Three Rivers Commercial Advisors is pleased to present 2215 Ardmore Boulevard for sale. This 11-unit mixed-use investment property is on Forest Hills’ main business corridor, Ardmore Boulevard. The approximately 7,689 SF building sits on a commercially zoned parcel. It has five street-level retail storefronts and six apartments: (4) one-bedrooms and (2) two-bedrooms, with private balconies. The property generates $106,140 in gross scheduled annual rental income and a net operating income of $65,608, an 8.5% cap rate at the asking price. With 11 separate tenancies and residential rents ranging from $750 to $1,220 per month, the asset offers investors diversified in-place cash flow with room to raise rents to market.

Investment Highlights

• 11-Unit Mixed-Use Investment Opportunity: (5) Retail Storefronts / (6) Apartments
• Strong In-Place Cash Flow: NOI of $65,608 at an 8.5% cap rate
• Diversified Income: 11 tenancies, with no single tenant accounting for more than about 18% of gross rent
• Main-Road Exposure on Ardmore Boulevard (US Route 30)
• Mark-to-Market Upside: one-bedroom rents range from $750 to $950 and two-bedroom rents from $800 to $1,220
• Attractive Basis: $70,000/unit, about $100/SF