Renovated Pittsburgh Building For
For Sale
Contact for pricing
Pending
2419 Baldwick Rd, Pittsburgh, PA 15205
Two-story, 8,000 SF renovated building suitable for office, medical, retail.
Property Size8,000 SF
Days on Market199
Property Features for 2419 Baldwick Rd
General Information
Standard status
Pending
Size
8,000 SF
Class
B
Property subtype
Office
Zoning
LNC
Building Details
Year Built
1993
Year Renovated
2021
Buildings
1
Stories
2
Listing Agency:
Realty ONE Group Gold Standard
(724) 941-1427
Listed By:
Jaime Bongiorno · License #RB068748
Source:
Crexi
Added: Jan 24
Changed: Aug 8
Last Checked: Jul 25 at 2:19AM
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 Realty ONE Group Gold Standard
Investment Insights
Based on property information with market context.
Located at the signaled intersection of Noblestown Rd and Baldwick Rd in Pittsburgh, PA, the property at 2419 Baldwick Rd presents an investment opportunity. This two-story building, renovated in 2021, provides 8,000 square feet of space suitable for office, medical, or retail use. The location offers high visibility and accessibility. The building features modern amenities and is in pristine condition. The flexible layout can support various professional needs. The property offers the opportunity to acquire the on-site business.
Key Highlights
- Prime location at the signaled intersection of Noblestown Rd and Baldwick Rd, ensuring high visibility and easy accessibility.
- Fully renovated in 2021, offering 8,000 square feet of versatile space suitable for office, medical, or retail use.
- Opportunity to acquire the thriving on‑site business, providing a turnkey operation with established clientele and revenue potential.
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
$102,197
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
7.89%
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%
$2,043,940
$2.0M
Cap Rate 7%
$1,459,957
$1.5M
Cap Rate 9%
$1,135,522
$1.1M
Market Conditions
NOI Build-Up for 8,000 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
$180.5K $22.56/SF
− Vacancy
−$44.2K −$5.53/SF
EGI
$136.3K $17.03/SF
− OpEx
−$34.1K −$4.26/SF
NOI
$102.2K $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%
$2,043,940
Cap Rate 7%
$1,459,957
Cap Rate 9%
$1,135,522
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,197 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,348 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 15205, PA
23,594
Population
12,241
Households
1.9
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
11.7 sq mi
ZIP Area
2,017
Density / Sq Mi
$70,954
Median Household Income
$47,785
Median Earnings
$1,166
Median Rent
$171,500
Median Home Value
Market
Vacancy Rate% for Office in Pittsburgh, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story, 8,000 SF renovated building suitable for office, medical, retail.
Where is this office building located?
The property is located at 2419 Baldwick Rd Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Prime location at the signaled intersection of Noblestown Rd and Baldwick Rd, ensuring high visibility and easy accessibility.; Fully renovated in 2021, offering **8,000 square feet of versatile space** suitable for office, medical, or retail use.; Opportunity to acquire the thriving on‑site business, providing a **turnkey operation** with established clientele and revenue potential.
