Building Details

Building materials Brick

Listing Agency: COLDWELL BANKER REALTY · Coldwell Banker Real Estate r***@coldwellbanker.com Show Phone

Listed By: Robert Strohm · License #RS189629 Show Phone

Added: Aug 3 Changed: Oct 8 Last Checked: Oct 10 at 7:06AM

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MLS# 1768008

Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 5,000-square-foot office building has two stories and brick construction. The property includes a paved parking lot enclosed by fencing and occupies a 0.0706-acre site.

The building is adjacent to Duquesne University and minutes from UPMC Mercy. Its location is designated as an Opportunity Zone.

Key Highlights

• 5,000‑square‑foot, two‑story office building
• Brick construction
• Paved parking lot with fencing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,873

Cap Rate

4.26%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $111,468 @ 7.0% cap · market cap 7.43%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Steve Schwartz Associates Marketing & Advertising Office Supply Solutions (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pet Store Pet Store & Service Florist Nursing Home Adult Day Care

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,960

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 Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Brick construction and a paved, fenced parking area support a practical office setup.

Where is this office building located?

The property is located at 1700 Forbes Ave Downtown Pgh, 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‑square‑foot, two‑story office building; Brick construction; Paved parking lot with fencing