Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    200 1St Ave, Unit | Pittsburgh Pittsburgh, PA 15222

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Four-story office building in Pittsburgh's Central Business District.

    Property size:
    53 SF

    Property Features for 200 1St Ave

    General Information

    Size
    53 SF

    Building Details

    Year built
    1880

    We can help!

    Listing Contact
    Caroline Muse
    Source: Lee-associates

    Listing Agent: Caroline Muse

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Waterfront Building in Pittsburgh

    The Waterfront Building, situated at 200 First Avenue in Pittsburgh’s Central Business District, is a four-story office building noted for its character and unique architectural features. The building is listed on the National Register of Historic Places. Its location provides access to major highways and proximity to Market Square, the Cultural District, and Station Square. Several bus stops and parking garages are nearby, and limited parking spaces may be available for tenants in the adjacent lot. The building has floor plates measuring 9,4674 RSF and is 72% occupied. The Waterfront Building is positioned for an owner-occupant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Creative Code Software Company Quinn Logue LLC Trial Attorney Citizens For Pennsylvania Atm Agency1903 Marketing Agency Where Eagles Dare Advertising Agency

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.003695
    Latitude
    40.438147

    Nearby Similar for Sale

    • New
      $390,000
      8,426 SF

      Hazelwood Mixed-Use Investment Opportunity

      Versatile commercial property in Pittsburgh's Hazelwood neighborhood with residential units.
      5106-5108 2Nd Ave, Pittsburgh, PA 15207
      View Details
    • $424,900
      0.43 Acres

      Historic Church with Redevelopment Potential

      Unique 55,000 sq ft church suitable for various uses.
      710 Mulberry St, Pittsburgh, PA 15221
      View Details
    • $1,300,000
      0.31 Acres

      Grant Bar & Lounge Business

      Successful full-service restaurant and bar with unlimited potential.
      114 Grant Ave, Pittsburgh, PA 15209
      View Details
    • $1,000,000
      0.17 Acres

      Updated Office Building in Lawrenceville

      Commercial property in the heart of Lawrenceville, move-in ready.
      258 42Nd St, Pittsburgh, PA 15201
      View Details
    • $312,500
      0.13 Acres

      Crafton Fourplex with Income Potential

      Solid brick fourplex in Crafton with spacious units and updates.
      42 Baldwick Rd, Pittsburgh, PA 15205
      View Details
    • $450,000
      0.03 Acres

      Mt. Washington Four-Unit Property

      Well-maintained four-unit property in Mt. Washington neighborhood.
      201 Amabell St, Mt Washington, PA 15211
      View Details
    • New
      $549,900
      3,600 SF

      Unique Mixed-Use Property, Pittsburgh Northside

      Mixed-use property with income potential near Downtown Pittsburgh.
      4072 Franklin Rd, Pittsburgh, PA 15214
      View Details
    • $350,000
      0.18 Acres

      Renovated Office Building in South Park

      3,491 SF office building with two units, renovated in 2025.
      1102 Wilhelm Ave, Pittsburgh, PA 15236
      View Details
    • $3,000,000
      0.12 Acres

      Downtown Pittsburgh Office Building

      Updated office building in Pittsburgh Opportunity Zone with parking.
      1940 5Th Ave, Pgh, PA 15219
      View Details
    • $299,900
      0.15 Acres

      Updated Commercial Property with Apartment

      Versatile commercial building with updated apartment near Downtown Pittsburgh.
      2860 Perrysville Ave, Pittsburgh, PA 15214
      View Details
    • $835,000
      Pending

      Renovated Mixed-Use Property in Polish Hill

      Turn-key investment opportunity in Pittsburgh's Polish Hill neighborhood.
      3105 Brereton St, Pittsburgh, PA 15219
      View Details
    • $239,900
      0.08 Acres

      Versatile Property in Brookline Commercial District

      Mixed-use property with storefront, 3-bedroom house, and detached garage.
      931 Brookline Blvd, Brookline, PA 15226
      View Details

    FAQs

    What type of property is this?
    Office building - Four-story office building in Pittsburgh's Central Business District.
    Where is this office building located?
    The property is located at 200 1St Ave, Unit | Pittsburgh Pittsburgh, PA.
    What are key features of this property?
    This property features: - Historic building listed on the National Register of Historic Places.; - Located in the heart of Downtown Pittsburgh's Central Business District.; - Ideal location near major highways and public transportation (bus stops).
    (412) 339-1962
    Request Owner's contact information
    200 1St Ave, Unit | Pittsburgh Pittsburgh, PA 15222
    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.
    200 1St Ave, Unit | Pittsburgh
    Pittsburgh, PA 15222
    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
    200 1St Ave, Unit | Pittsburgh Pittsburgh, PA 15222
    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

    We can help!
    Listing Contact
    Caroline Muse
    (412) 339-1962
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.