Remodeled Office
For Sale
Contact for pricing
425 Cochran Road, Pittsburgh, PA 15228
Partially finished lower level and front parking provide added functionality for office users.
Property Size3,200 SF
Price / SF$375
Days on Market62
Property Features for 425 Cochran Road
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
4
Property subtype
Office
Additional Details
Road Access
Yes
Building Details
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Berkshire Hathaway The Preferred Realty
Listed By:
Marv Levin · License #PA AB051390L
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 1:14PM
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 Berkshire Hathaway The Preferred Realty
Investment Insights
Based on property information with market context.
This 3,200-square-foot office building has undergone recent remodeling and includes a partially finished basement that expands its usable configuration. Four parking spaces are positioned directly in front of the building, while a hot-water system beneath the sidewalk and parking area is designed to clear ice and snow.
The property is located at 425 Cochran Road in Pittsburgh, placing it along a major artery serving travel into and out of the city. Long-term tenants are in place, adding established occupancy to the office asset.
The property is located at 425 Cochran Road in Pittsburgh, placing it along a major artery serving travel into and out of the city. Long-term tenants are in place, adding established occupancy to the office asset.
Key Highlights
- 3,200‑square‑foot office building with recent remodeling
- Four‑car parking lot directly in front of the building
- Partially finished basement
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
$40,879
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
3.41%
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%
$817,580
$817.6K
Cap Rate 7%
$583,986
$584.0K
Cap Rate 9%
$454,211
$454.2K
Market Conditions
NOI Build-Up for 3,200 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
$72.2K $22.56/SF
− Vacancy
−$17.7K −$5.53/SF
EGI
$54.5K $17.03/SF
− OpEx
−$13.6K −$4.26/SF
NOI
$40.9K $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%
$817,580
Cap Rate 7%
$583,986
Cap Rate 9%
$454,211
Alternative Uses
Best Use
Office B
$584.0K
$511.0K – $681.3K
NOI $40,879 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.7K – $1.19M
NOI $71,339 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,161
Businesses Nearby
Explore this area
Business Placement
Demographics for 15228, PA
18,110
Population
7,776
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
5,659
Density / Sq Mi
$131,087
Median Household Income
$70,899
Median Earnings
$1,130
Median Rent
$363,400
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?
Office building - Partially finished lower level and front parking provide added functionality for office users.
Where is this office building located?
The property is located at 425 Cochran Road Pittsburgh, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,200‑square‑foot office building with recent remodeling; Four‑car parking lot directly in front of the building; Partially finished basement
