Turn-Key Medical Office and
For Sale
$625,000
3519 Bigelow Boulevard, Pittsburgh, PA 15213
Turn-key medical office with security and sound-resistant rooms, plus a 3-bedroom apartment for additional rental income.
Property Size4,488 SF
Price / SF$139.26
Days on Market530
Property Features for 3519 Bigelow Boulevard
General Information
Standard status
Active
Size
4,488 SF
Total Parking Spaces
14
Property subtype
Multi-Unit / Other
Zoning
UNC
Additional Details
Business Included
Yes
Traffic Count
19,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$5,456
Amenities
0.0
Building Details
Year Built
9999
Listing Agency:
KELLER WILLIAMS REALTY
Listed By:
Giovanni Fedele · License #RS357816
(724) 933-8500
Source:
Compass
Added: Mar 25, 2025
Changed: Aug 14
Last Checked: Jul 21 at 7:22AM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
This turn-key commercial property is currently operated as a medical office and includes features intended for patient privacy, including a high-end security system and sound-resistant rooms. The building also incorporates a 3-bedroom apartment downstairs, providing on-site rental income alongside the office use.
The property is located along Bigelow Boulevard in Pittsburgh and is positioned on a heavily trafficked corridor with approximately 19,000 vehicles per day, supporting client and customer access and visibility. The lot includes approximately 14 parking spaces, with about half in the front and half in the back. The property is zoned UNC, with multiple permitted uses noted, and the back of the building previously had a loading dock that was removed.
Overall, the building presents a clean, functional office configuration combined with an integrated residential component, with parking and access designed to support daily operations.
The property is located along Bigelow Boulevard in Pittsburgh and is positioned on a heavily trafficked corridor with approximately 19,000 vehicles per day, supporting client and customer access and visibility. The lot includes approximately 14 parking spaces, with about half in the front and half in the back. The property is zoned UNC, with multiple permitted uses noted, and the back of the building previously had a loading dock that was removed.
Overall, the building presents a clean, functional office configuration combined with an integrated residential component, with parking and access designed to support daily operations.
Key Highlights
- 4,488 SF professional commercial space on Bigelow Blvd in Pittsburgh, currently used as a medical office
- Includes a 3‑bedroom apartment downstairs for rental income, with owner occupying the office space
- Zoned UNC, with suitability for medical office, healthcare, or professional services (several permitted uses)
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
$57,332
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
9.17%
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%
$1,146,640
$1.1M
Cap Rate 7%
$819,029
$819.0K
Cap Rate 9%
$637,022
$637.0K
Market Conditions
NOI Build-Up for 4,488 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
$101.2K $22.56/SF
− Vacancy
−$24.8K −$5.53/SF
EGI
$76.4K $17.03/SF
− OpEx
−$19.1K −$4.26/SF
NOI
$57.3K $12.77/SF
Area
Pittsburgh, PA
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%
$1,146,640
Cap Rate 7%
$819,029
Cap Rate 9%
$637,022
Alternative Uses
Best Use
Office B
$819.0K
$716.7K – $955.5K
NOI $57,332 @ 7.0% cap · market cap 9.17%
Second Best
Healthcare Medical
$776.9K
$679.8K – $906.4K
NOI $54,384 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,053 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,073
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15213, PA
31,075
Population
11,349
Households
2.7
Avg Household Size
25
Median Age
64%
College-Educated
94%
High-School Grad
2.4 sq mi
ZIP Area
12,948
Density / Sq Mi
$31,330
Median Household Income
$6,795
Median Earnings
$1,243
Median Rent
$247,500
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 - Turn-key medical office with security and sound-resistant rooms, plus a 3-bedroom apartment for additional rental income.
Where is this medical office space located?
The property is located at 3519 Bigelow Boulevard Pittsburgh, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4,488 SF professional commercial space on Bigelow Blvd in Pittsburgh, currently used as a medical office; Includes a 3‑bedroom apartment downstairs for rental income, with owner occupying the office space; Zoned UNC, with suitability for medical office, healthcare, or professional services (several permitted uses)
