Hermitage, PA
Commercial Real Estate Market Trends & Data

$245 Avg asking sale price
$12 Avg asking lease rate
27,729 SF Avg unit lease size
18,035 SF Avg building size for sale
8.38% Average cap rate

Hermitage's Demographic Profile

Hermitage has 6,982 households and a median income of $61,366, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 15,525
# Households 6,982
Median age 49
Median household income $61,366
Avg household size 2.0
Renter-occupied housing units 2,096
5-year population change -2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Hermitage, PA

↻ Updated Monthly

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Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Hermitage $58 40,237 SF 9.50%
Sharon $71 39,766 SF 9.50%
Farrell $74 25,177 SF 9.50%
Nearby Retail Markets Avg Cost/SF Typical Size
Hermitage $215 6,296 SF
Sharon $207 7,371 SF
Farrell $155 10,640 SF
Sharpsville $250 1,996 SF
New Wilmington $145 3,280 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Youngstown $98 16,008 SF 10.25%
New Castle $51 58,140 SF 7.09%
Boardman $110 16,514 SF 10.25%

Commercial Properties For Sale in Hermitage

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

1215 E State St

Sharon, PA 16146

  • 1,525 SF Retail Building
  • $450,000
For Sale

519 N Hermitage Rd

Hermitage, PA 16148

  • 1,556 SF Office Building
  • $389,900
For Sale

Hotel

Hermitage, PA 16148

  • 31,460 SF Hospitality
  • $2,500,000
For Sale

1005 Campus Cir

Hermitage, PA 16148

  • 17,924 SF Office Building
  • 7.24% Cap Rate
  • $5,980,000
For Sale

Dollar General - Farrell PA

Farrell, PA 16121

  • 10,640 SF Retail Building
  • 6.84% Cap Rate
  • $1,650,000
For Sale

45 S Walnut St

Sharpsville, PA 16150

  • 1,996 SF Retail Building
  • $499,900

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Hermitage pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Hermitage $245 18,035 SF
Sharon $140 21,428 SF
Farrell $87 20,331 SF
Sharpsville $241 9,391 SF
West Middlesex $622 16,053 SF

Regional Demographic Comparison

This comparison places Hermitage alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Hermitage or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Hermitage 15,525 6,982 49 $61,366 2 2,096 -2%
Sharon 14,261 6,172 41 $39,973 2 2,938 1%
Farrell 4,991 2,287 44 $25,922 2 1,046 3%
Sharpsville 4,057 1,797 43 $50,577 2 658 -2%
West Middlesex 760 330 45 $68,693 2 93 -4%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Hermitage, PA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Hermitage

View All Commercial Real Estate For Sale in Hermitage
Is Hermitage a good market for a first-time commercial real estate investor?

Hermitage offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Hermitage?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Hermitage. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Hermitage?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Hermitage. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Hermitage compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Hermitage. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Hermitage acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Hermitage, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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