Single-Story Medical Office with
For Sale
$1,893,000
3412-3414 Babcock Boulevard, Pittsburgh, PA 15237
Vacant, single-story medical office with adjacent storage, totaling 11,627 SF, offered as fee simple.
Property Size11,627 SF
Price / SF$162.81
Days on Market48
Property Features for 3412-3414 Babcock Boulevard
General Information
Standard status
Active
Size
11,627 SF
Class
B
Property subtype
Office
Zoning
C-2
Building Details
Building Size
11,627 SF
Year Built
2008
Stories
1
Listing Agency:
(814) 532-6186
Listed By:
Perry Russ · License #PA #RM425579
Source:
Zamias
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 11 at 4:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Perry Russ
Investment Insights
Based on property information with market context.
Zamias Services Inc and SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest in a vacant, single-story medical office property with an adjacent storage building. The combined offering features 11,627 SF and is configured to support office use alongside nearby storage space.
The property is located at 3412–3414 Babcock Boulevard in Pittsburgh, Pennsylvania. It is zoned C-2, Community Commercial, allowing for a wide range of commercial uses consistent with the district.
This is a straightforward acquisition for buyers seeking a combined medical office and storage configuration in a C-2 commercial zoning district.
The property is located at 3412–3414 Babcock Boulevard in Pittsburgh, Pennsylvania. It is zoned C-2, Community Commercial, allowing for a wide range of commercial uses consistent with the district.
This is a straightforward acquisition for buyers seeking a combined medical office and storage configuration in a C-2 commercial zoning district.
Key Highlights
- Fee simple opportunity: vacant, single‑story medical office with adjacent storage
- Total size of 11,627 SF
- Built in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$148,530
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,970,600
$3.0M
Cap Rate 7%
$2,121,857
$2.1M
Cap Rate 9%
$1,650,333
$1.7M
Market Conditions
NOI Build-Up for 11,627 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$262.3K $22.56/SF
− Vacancy
−$64.3K −$5.53/SF
EGI
$198.0K $17.03/SF
− OpEx
−$49.5K −$4.26/SF
NOI
$148.5K $12.77/SF
Area
ZIP 15237
Vacancy
24.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,970,600
Cap Rate 7%
$2,121,857
Cap Rate 9%
$1,650,333
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,530 @ 7.0% cap · market cap 7.85%
Second Best
Warehouse
$2.01M
$1.75M – $2.34M
NOI $140,387 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,207 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 15237, PA
45,670
Population
19,332
Households
2.4
Avg Household Size
43
Median Age
58%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,895
Density / Sq Mi
$108,538
Median Household Income
$64,006
Median Earnings
$1,327
Median Rent
$306,900
Median Home Value
Market
Vacancy Rate% for Office in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant, single-story medical office with adjacent storage, totaling 11,627 SF, offered as fee simple.
Where is this medical office space located?
The property is located at 3412-3414 Babcock Boulevard Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,893,000.
What are key features of this property?
This property features: Fee simple opportunity: vacant, single‑story medical office with adjacent storage; Total size of 11,627 SF; Built in 2008
