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    4824 Liberty Ave Pittsburgh, PA 15224

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    For Sale
    $2,999,000

    20,000 SF office space for sale/lease located at 4824 Liberty Ave in Bloomfield neighborhood of Pittsburgh

    Property size:
    20,000 SF
    Added:
    Jan 20, 2025
    Days on Market:
    451
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 4824 Liberty Ave

    General Information

    Standard status
    Active
    Property type
    Medical Office Space, Medical centers, Medical space, Office properties & Spaces, Healthcare properties
    Size
    20,000 SF
    Elevators
    N/A
    Sale Condition
    Lease Option

    Building Details

    Year Built
    2009
    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Nathan Pazsint

    Listing agent Nathan

    Listing office

    Listing date Jan 20, 2025

    Overview

    Bloomfield Medical/Office Building For Sale

    This Class A medical/office building, constructed in 2009, offers 20,000 square feet of space. The building features two fully built-out floors with offices, and two additional floors, plus a basement, available as shell space. Each floor includes two ADA-compliant bathrooms, and an elevator services all levels. Multiple networking rooms are available. The basement provides a private doctor's garage and a separate back entrance. The location offers easy access to street parking and nearby parking garages. Its proximity to West Penn Hospital and Children's Hospital makes it an ideal location for medical practices. The property presents an excellent opportunity for medical, technology, or university-affiliated office space. The building's size is 20,000 square feet, with approximately 4,000 square feet on each level. The property is located at 4824 Liberty Avenue in Pittsburgh's Bloomfield neighborhood.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lay'd By Lay Hair Salon OmniXRM (Bike/Boat/Book/etc) Store Top Of The Line Motors ... Auto Repair Shop

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • MVS Pet Care -Pittsburgh — 320 Fort Duquesne Blvd, Pittsburgh, PA 15222
    • Va Pittsburgh medicel center — Pittsburgh, PA 15219

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.94637
    Latitude
    40.459926

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    FAQs

    What type of property is this?
    Medical Office Space - 20,000 SF office space for sale/lease located at 4824 Liberty Ave in Bloomfield neighborhood of Pittsburgh
    Where is this medical office space located?
    The property is located at 4824 Liberty Ave Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $2,999,000.
    (412) 352-8754
    We can help!
    Listing Contact
    Nathan Pazsint
    Learn More
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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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