Medical Office Building For
For Sale
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20630 Rte 19, Cranberry Township, PA 16066
13,800 SF medical office building with long-term UPMC tenant.
Property Size13,800 SF
Lot Size2.12 Acres
Price / SF$271.74
Days on Market147
Property Features for 20630 Rte 19
General Information
Standard status
Active
Size
13,800 SF
Lot size
2.12 Acres
Property subtype
Office
Zoning
SP 1 (Special Growth)
Listing Agency:
Hanna Commercial Real Estate - Pittsburgh
(412) 261-7134
Listed By:
AJ Pantoni · License #RS312320
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 16 at 6:33PM
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 Hanna Commercial Real Estate - Pittsburgh
Investment Insights
Based on property information with market context.
This 13,800 square foot single-story medical office building is available for sale. Situated on 2.12 acres fronting Route 19/Perry Highway, the property features abundant parking. The building is currently zoned SP 1 (Special Growth). A long-term UPMC tenant has occupied the building for over 15 years, with the current term expiring in 2028. Additionally, a dance studio occupies a portion of the space as a short-term tenant. The gross rent is $293,718 per year. UPMC is responsible for 78% of the expenses, while the landlord is responsible for insurance and 22% of the expenses. The property is located along Route 19.
Key Highlights
- Long term UPMC tenant, 15+ years with current term expiring 2028.
- Gross rent - $293,718/year.
- 13,800 SF medical office building.
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
$198,402
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
5.29%
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%
$3,968,040
$4.0M
Cap Rate 7%
$2,834,314
$2.8M
Cap Rate 9%
$2,204,467
$2.2M
Market Conditions
NOI Build-Up for 13,800 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
$344.4K $24.96/SF
− Vacancy
−$13.8K −$1.00/SF
EGI
$330.7K $23.96/SF
− OpEx
−$132.3K −$9.58/SF
NOI
$198.4K $14.38/SF
Area
Butler County, PA
Vacancy
4.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
40.00%
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%
$3,968,040
Cap Rate 7%
$2,834,314
Cap Rate 9%
$2,204,467
Alternative Uses
Best Use
Healthcare Medical
$2.83M
$2.48M – $3.31M
NOI $198,402 @ 7.0% cap · market cap 5.29%
Second Best
Office B
$2.52M
$2.20M – $2.94M
NOI $176,289 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$3.52M
$3.08M – $4.10M
NOI $246,055 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16066, PA
32,922
Population
14,359
Households
2.3
Avg Household Size
39
Median Age
65%
College-Educated
98%
High-School Grad
22.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$125,390
Median Household Income
$71,940
Median Earnings
$1,619
Median Rent
$395,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Animal General of Cranberry Twp. — 20411 Rte 19, Cranberry Twp, PA 16066
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- Gardens Veterinary Hospital — 9087 Marshall Rd, Cranberry Twp, PA 16066
- VIP Pet Care — 407 Commerce Park Dr, Cranberry Twp, PA 16066
Frequently Asked Questions
What type of property is this?
Medical Office Space - 13,800 SF medical office building with long-term UPMC tenant.
Where is this medical office space located?
The property is located at 20630 Rte 19 Cranberry Township, PA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Long term UPMC tenant, 15+ years with current term expiring 2028.; Gross rent - $293,718/year.; 13,800 SF medical office building.
