Commercial Office
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1700 FORBES AVE, Pittsburgh, PA 15219
Office property offered for sale in Pittsburgh.
Property Size5,000 SF
Price / SF$300
Days on Market7
Property Features for 1700 FORBES AVE
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Building Details
Units
1
Listing Agency:
Coldwell Banker
Listed By:
Rob Strohm · License #PA
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 5:59AM
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 Coldwell Banker
Investment Insights
Based on property information with market context.
This commercial office building contains 5,000 square feet and is offered for sale. The property is located at 1700 Forbes Ave in Pittsburgh, Pennsylvania 15219-5834.
Key Highlights
- 5,000 Sq Ft commercial office property
- Located at 1700 Forbes Ave, Pittsburgh, PA 15219‑5834
- Offered for sale
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
$63,873
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
4.26%
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%
$1,277,460
$1.3M
Cap Rate 7%
$912,471
$912.5K
Cap Rate 9%
$709,700
$709.7K
Market Conditions
NOI Build-Up for 5,000 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
$112.8K $22.56/SF
− Vacancy
−$27.6K −$5.53/SF
EGI
$85.2K $17.03/SF
− OpEx
−$21.3K −$4.26/SF
NOI
$63.9K $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%
$1,277,460
Cap Rate 7%
$912,471
Cap Rate 9%
$709,700
Alternative Uses
Best Use
Office B
$912.5K
$798.4K – $1.06M
NOI $63,873 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,468 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 15219, PA
10,949
Population
7,139
Households
1.5
Avg Household Size
37
Median Age
35%
College-Educated
93%
High-School Grad
2.2 sq mi
ZIP Area
4,977
Density / Sq Mi
$32,403
Median Household Income
$35,540
Median Earnings
$894
Median Rent
$193,100
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?
Office building - Office property offered for sale in Pittsburgh.
Where is this office building located?
The property is located at 1700 FORBES AVE Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,000 Sq Ft commercial office property; Located at 1700 Forbes Ave, Pittsburgh, PA 15219‑5834; Offered for sale
