Healthcare Medical Office
For Sale
Contact for pricing
Pending
310 RODI RD, Pittsburgh, PA 15235
Two medical office properties combine established healthcare tenancy with long-term leases and landlord-favorable expense structures.
Property Size63,587 SF
Days on Market142
Property Features for 310 RODI RD
General Information
Standard status
Pending
Size
63,587 SF
Class
A
Property subtype
Office
Occupancy
97%
Lease Type
Modified Gross
Investment Type
Core
Net Operating Income
$1,229,795
Building Details
Year Built
2017
Buildings
2
Tenancy
Multi
Listing Agency:
Zeustra Inc
Listed By:
Nick Myers · License #PA RS322215
Source:
Crexi
Added: May 29
Changed: Oct 11
Last Checked: Oct 16 at 6:50AM
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 Zeustra Inc
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Investment Insights
Based on property information with market context.
This healthcare-focused portfolio includes two medical office properties in the Pittsburgh MSA with a combined 63,587 square feet. The 44,408-square-foot building at 310 Rodi Road is fully occupied by Allegheny Health Network’s Premier Medical Associates under a long-term lease and includes a specialized medical buildout. The 19,179-square-foot property at 4044 PA-130 is 90% leased, with Allegheny Health Network occupying approximately 69% of the building. Gentiva Hospice is scheduled to begin occupancy on July 1st under a new five-year lease, while approximately 1,943 square feet remains available.
The portfolio has an approximately 8.87-year weighted average lease term. Corporate guarantees from Highmark Health support a significant portion of the Allegheny Health Network tenancy. Both properties use landlord-favorable expense stop structures that pass expense growth through to tenants. The assets are positioned within the Pittsburgh MSA and serve healthcare-oriented occupancy requirements.
The portfolio has an approximately 8.87-year weighted average lease term. Corporate guarantees from Highmark Health support a significant portion of the Allegheny Health Network tenancy. Both properties use landlord-favorable expense stop structures that pass expense growth through to tenants. The assets are positioned within the Pittsburgh MSA and serve healthcare-oriented occupancy requirements.
Key Highlights
- 63,587‑square‑foot portfolio spanning two medical office properties
- 310 Rodi Road includes a fully occupied 44,408‑square‑foot single‑tenant medical office building
- 4044 PA‑130 is a 19,179‑square‑foot medical office property that is 90% leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$812,298
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,245,960
$16.2M
Cap Rate 7%
$11,604,257
$11.6M
Cap Rate 9%
$9,025,533
$9.0M
Market Conditions
NOI Build-Up for 63,587 SF
Gross rent
$1.43M $22.56/SF
− Vacancy
−$351.5K −$5.53/SF
EGI
$1.08M $17.03/SF
− OpEx
−$270.8K −$4.26/SF
NOI
$812.3K $12.77/SF
Area
ZIP 15235
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 Rate 5%
$16,245,960
Cap Rate 7%
$11,604,257
Cap Rate 9%
$9,025,533
Alternative Uses
Best Use
Office B
$11.60M
$10.15M – $13.54M
NOI $812,298 @ 7.0% cap · market cap 4.79%
Second Best
Healthcare Medical
$11.01M
$9.63M – $12.84M
NOI $770,522 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$20.25M
$17.72M – $23.63M
NOI $1,417,577 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
704
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 15235, PA
34,610
Population
16,942
Households
2
Avg Household Size
46
Median Age
36%
College-Educated
95%
High-School Grad
14.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$62,292
Median Household Income
$40,511
Median Earnings
$1,048
Median Rent
$132,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Pittsburgh, PA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two medical office properties combine established healthcare tenancy with long-term leases and landlord-favorable expense structures.
Where is this medical office space located?
The property is located at 310 RODI RD Pittsburgh, PA.
What is the asking price?
The asking price for this property is $16,962,690.
What are key features of this property?
This property features: 63,587‑square‑foot portfolio spanning two medical office properties; 310 Rodi Road includes a fully occupied 44,408‑square‑foot single‑tenant medical office building; 4044 PA‑130 is a 19,179‑square‑foot medical office property that is 90% leased
