Flex Building with
For Sale
$2,200,000
3001 Pulawski Way, Pittsburgh, PA 15219
Multi-level flex property combining warehouse, office, showroom, crane, and drive-in access.
Property Size21,167 SF
Price / SF$103.94
Days on Market193
Property Features for 3001 Pulawski Way
General Information
Standard status
Active
Size
21,167 SF
Class
C
Property subtype
Multi Tenant Office
Warehouse & Industrial
Clear Height
40 ft
Warehouse Space
7,700 SF
Drive-In Doors
1
Building Details
Building Size
21,167 SF
Buildings
1
Stories
3
Listing Agency:
SVN | Three Rivers Commercial Advisors
(724) 918-4426
Listed By:
Jason Campagna · License #RM424399
(724) 918-4426
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:14AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
This Pittsburgh flex property contains approximately 21,167 square feet across a mixed-use commercial layout. The building includes about 7,700 square feet of warehouse area with a crane, approximately 40-foot clear height, and drive-in access. Office, showroom, and additional flex areas occupy the remaining space across three floors.
The property is situated in Polish Hill with elevated views toward the Strip District. Downtown Pittsburgh and the Strip District are both described as minutes away, providing a central urban setting for an owner-user or redevelopment consideration.
The property is situated in Polish Hill with elevated views toward the Strip District. Downtown Pittsburgh and the Strip District are both described as minutes away, providing a central urban setting for an owner-user or redevelopment consideration.
Key Highlights
- Approximately 21,167 SF flex building
- About 7,700 SF of warehouse space
- Approximately 40' clear height
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
$145,167
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
6.60%
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%
$2,903,340
$2.9M
Cap Rate 7%
$2,073,814
$2.1M
Cap Rate 9%
$1,612,967
$1.6M
Market Conditions
NOI Build-Up for 21,167 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
$180.3K $8.52/SF
− Vacancy
−$9.6K −$0.45/SF
EGI
$170.8K $8.07/SF
− OpEx
−$25.6K −$1.21/SF
NOI
$145.2K $6.86/SF
Area
Pittsburgh, PA
Vacancy
5.30%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
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%
$2,903,340
Cap Rate 7%
$2,073,814
Cap Rate 9%
$1,612,967
Alternative Uses
Best Use
Office B
$3.86M
$3.38M – $4.51M
NOI $270,400 @ 7.0% cap · market cap 12.29%
Second Best
Warehouse
$2.07M
$1.81M – $2.42M
NOI $145,167 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$6.74M
$5.90M – $7.86M
NOI $471,887 @ 7.0% cap · market cap 21.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
40 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
Balanced
Demand for This Use
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?
Flex space - Multi-level flex property combining warehouse, office, showroom, crane, and drive-in access.
Where is this flex space located?
The property is located at 3001 Pulawski Way Pittsburgh, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Approximately 21,167 SF flex building; About 7,700 SF of warehouse space; Approximately 40' clear height
