Fully Occupied Industrial
For Sale
Contact for pricing
310 Alpha Drive, Pittsburgh, PA 15238
Fully occupied warehouse positioned within RIDC Park’s Suburban Manufacturing District.
Property Size32,000 SF
Price / SF$114.06
Days on Market142
Property Features for 310 Alpha Drive
General Information
Standard status
Active
Size
32,000 SF
Total Parking Spaces
60
Property subtype
Industrial
Zoning
Suburban Manufacturing District
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$288,564
Building Details
Year Built
1972
Tenancy
Single
Building Size
32,000 SF
Listing Agency:
Totum Realty Advisors
(304) 290-7826
Listed By:
Michael Castle · License #PA AB068356
Source:
Crexi
Added: Apr 12
Changed: Aug 30
Last Checked: Jun 16 at 1:29PM
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 Totum Realty Advisors
Investment Insights
Based on property information with market context.
This warehouse property contains 32,000 SF of industrial space and was constructed in 1974. The building is fully occupied, providing an established operating profile for an industrial asset.
The property is located in RIDC Park in Pittsburgh, PA, within a Suburban Manufacturing District. Its classification and setting support warehouse, distribution, and broader industrial operations as described for the property.
The property is located in RIDC Park in Pittsburgh, PA, within a Suburban Manufacturing District. Its classification and setting support warehouse, distribution, and broader industrial operations as described for the property.
Key Highlights
- 32,000 SF industrial warehouse
- Constructed in 1974
- Fully occupied
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
$219,462
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
6.01%
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%
$4,389,240
$4.4M
Cap Rate 7%
$3,135,171
$3.1M
Cap Rate 9%
$2,438,467
$2.4M
Market Conditions
NOI Build-Up for 32,000 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
$272.6K $8.52/SF
− Vacancy
−$14.4K −$0.45/SF
EGI
$258.2K $8.07/SF
− OpEx
−$38.7K −$1.21/SF
NOI
$219.5K $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%
$4,389,240
Cap Rate 7%
$3,135,171
Cap Rate 9%
$2,438,467
Alternative Uses
Best Use
Warehouse
$3.14M
$2.74M – $3.66M
NOI $219,462 @ 7.0% cap · market cap 6.01%
Second Best
Industrial
$2.58M
$2.26M – $3.01M
NOI $180,733 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$10.19M
$8.92M – $11.89M
NOI $713,392 @ 7.0% cap · market cap 19.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 15238, PA
13,266
Population
6,001
Households
2.2
Avg Household Size
47
Median Age
75%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
840
Density / Sq Mi
$124,904
Median Household Income
$78,510
Median Earnings
$1,189
Median Rent
$452,300
Median Home Value
Market
Vacancy Rate% for Industrial in Pittsburgh, PA
Questions? Ask Rey
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Similar Off Market Nearby
- Guardian Storage Fox Chapel — 1390 Old Freeport Rd, Pittsburgh, PA 15238
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully occupied warehouse positioned within RIDC Park’s Suburban Manufacturing District.
Where is this warehouse located?
The property is located at 310 Alpha Drive Pittsburgh, PA.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 32,000 SF industrial warehouse; Constructed in 1974; Fully occupied
