Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3 Penn Ctr W Pittsburgh, PA 15276

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space with amenities, available for rent.

    Property size:
    2,094 SF
    Lot size:
    15.16 Acres

    Property Features for 3 Penn Ctr W

    General Information

    Size
    2,094 SF
    Lot size
    15.16 Acres

    We can help!

    Listing Contact
    Charlie Must
    Charlie Must
    Source: Moodyscre

    Listing Agent: Charlie Must

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Modern Office Space Available

    This property offers office space with a range of amenities. It features a conference center and tenant lounge, along with on-site property management. Well-lit, free, and abundant parking is available. A grab-and-go market is located on the premises. For recreation and convenience, picnic areas and walking trails are accessible. Food trucks and tenant events are regularly scheduled. The building provides 24-hour key card access. A fitness center is planned for completion in the fourth quarter of 2025. The available space measures 2094 square feet.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.031786
    Latitude
    40.495214

    Nearby Similar for Lease

    • $900 /Mo

      Robinson Township Office Space Available

      1,000 SF office suite with private entrance and highway access.
      4488 Steubenville Pike, Pittsburgh, PA 15205
      View Details
    • $5,000 /Mo
      13,861 SF

      Retail Space in Squirrel Hill

      2000 SF retail space in the heart of Squirrel Hill.
      5854 Forbes Ave, Squirrel Hill, PA 15217
      View Details
    • $5,500 /Mo
      12,001 SF

      Updated Office Space in Beechview

      Updated office space with flexible layout and ample parking.
      1532 Beechview Ave, Beechview, PA 15216
      View Details
    • New
      $2,800 /Mo

      HAVERTOWN Office Space For Lease

      Prime office space with excellent visibility and dedicated parking.
      1001 E Darby Rd Unit 1 Fl, Havertown, PA 19083
      View Details
    • $850 /Mo
      2,261 SF

      Office Space in Historic Deutschtown

      Office space with reception, kitchenette, and private offices.
      512 Foreland St, Pittsburgh, PA 15212
      View Details
    • $5,000 /Mo
      13,861 SF

      Retail Space in Squirrel Hill

      Well-maintained retail space in a high-traffic commercial area.
      5862 Forbes Ave, Pittsburgh, PA 15217
      View Details
    • $1,800 /Mo

      Havertown Office Space For Lease

      Second-floor office space in high-traffic location near Manoa Shopping Center.
      121 N Eagle Rd, Havertown, PA 19083
      View Details
    • $2,300 /Mo
      5,615 SF

      Turnkey Restaurant Space in Shadyside

      Established restaurant space available for sublease in a high-traffic Pittsburgh neighborhood.
      5102 Baum Blvd, Shadyside, PA 15224
      View Details
    • $3,900 /Mo
      13,068 SF

      SAINT CLAIR Commercial Lease

      Former bank building, move-in ready with vaults and teller station.
      0-2 N 2Nd St, Saint Clair, PA 17970
      View Details
    • $1,755 /Mo
      4,809 SF

      Commercial Space on Brownsville Road

      Commercial space suitable for medical, professional, or office use.
      5600 Brownsville Rd, Pittsburgh, PA 15236
      View Details
    • $950 /Mo

      HAVERTOWN Office Space For Lease

      Renovated office space with skylights and on-site parking.
      1223 2Nd St, Havertown, PA 19083
      View Details
    • $2,100 /Mo

      HAVERTOWN Office Space For Lease

      Office space with reception, storage, and private parking.
      700 Darby Rd, Havertown, PA 19083
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with amenities, available for rent.
    Where is this office units located?
    The property is located at 3 Penn Ctr W Pittsburgh, PA.
    What are key features of this property?
    This property features: - Well-lit free abundant parking for tenants and guests.; - Conference center and tenant lounge available for meetings and relaxation.; - On-site property management ensures smooth operations.
    (412) 996-1163 Call to check price and availability
    Request Owner's contact information
    3 Penn Ctr W Pittsburgh, PA 15276
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3 Penn Ctr W
    Pittsburgh, PA 15276
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3 Penn Ctr W Pittsburgh, PA 15276
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Charlie Must
    Charlie Must
    (412) 996-1163 (412) 471-9500 (412) 394-9806
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!