Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space in Penn Center Title is generated by Realmo AI

    500 Penn Center Blvd, Pittsburgh, PA 15235

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office space available for lease in Pittsburgh, Pennsylvania.

    Type:office
    Property size:
    12,044 SF
    Added:
    Apr 15, 2026
    Days on Market:
    50
    Last Refresh:
    Apr 14 at 8:19 pm

    Property Features for 500 Penn Center Blvd

    General Information

    Standard status
    Active
    Size
    12,044 SF
    Property subtype
    office

    Spaces For Lease

    at 500 Penn Center Blvd Contact us

    We can help!

    Listing Contact
    Jackie Bezek
    Jackie Bezek

    Listing agent Jackie Bezek License #RS332660

    Listing office Pittsburgh

    Listing date Apr 15, 2026

    Source Property.jll

    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 Pittsburgh

    HighLights

    • Located at 500 Penn Center Blvd, Pittsburgh, Pennsylvania 15235
    • Office space available for lease
    • Located in Penn Center East V
    • Available square footage: 12,044 SF
    • Office space
    • Available now

    Overview

    Available for lease is office space located at 500 Penn Center Blvd, Pittsburgh, Pennsylvania 15235. The available space in Penn Center East V totals 12,044 square feet.
    Location Intelligence

    Current Use by Public Records

    Catherine Dernorsek, Bankers ... Insurance Agency Penn National Insurance Insurance Agency Bankers Life Insurance Agency RIZZO International, Inc. Engineering Consultant Tehuan Brooks, Bankers ... Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.8106036
    Latitude
    40.4279816

    Nearby Similar for Lease

    • $2,000/Mo

      Ross Township Office Space Available

      Office space for lease in Ross Township, McKnight Road area.
      406 Mcknight Park Dr, Ross Twp, PA 15237
      View Details
    • $1,100/Mo

      North Hills Office Space Available

      Prime commercial space with flexible layout and excellent visibility.
      977 Perry Hwy, Ross Twp, PA 15237
      View Details
    • $1,500/Mo

      Commercial Space on Brownsville Road

      Commercial space suitable for medical, professional, or office use.
      5600 Brownsville Rd, Baldwin Boro, PA 15236
      View Details
    • $450/Mo

      Ross Township Office Space Available

      Office space for rent in Ross Township, utilities included.
      4501 Peoples Road Unit #103, Ross Twp, PA 15237
      View Details
    • $450/Mo

      Ross Twp Office Space Available

      Office space for rent in Ross Twp, utilities included.
      4501 Peoples Road Unit #210, Ross Twp, PA 15237
      View Details
    • $850/Mo

      Office Space in Historic Deutschtown

      Office space with reception, kitchenette, and private offices.
      512 Foreland St, Pittsburgh, PA 15212
      View Details
    • $3 SF/Yr

      Prime Storefront Space For Lease

      High-visibility storefront in a bustling commercial corridor, perfect for various businesses.
      1109 E Carson St, South Side, PA 15203
      View Details
    • $1,500/Mo

      Office Space in Greenfield, PA

      Bright office space on Murray Ave, ideal for client services.
      4351 Murray Ave., Greenfield, PA 15217
      View Details
    • $129-$3,226/Mo
      11-1,292 SF

      PA, Pittsburgh - Corporate Dr

      5800 Corporate Dr, Unit 300, Pittsburgh, PA 15237
      View Details
    • $129-$5,074/Mo
      11-1,292 SF

      Spaces Bakery Square

      6425 Living Pl, Pittsburgh, PA 15206
      View Details
    • $129-$3,624/Mo
      11-1,292 SF

      North Shore Place II

      322 Shore Dr, Unit 1B, Pittsburgh, PA 15212
      View Details
    • $129-$3,558/Mo
      11-1,292 SF

      Spaces One Oxford

      301 Grant St, Pittsburgh, PA 15219
      View Details

    FAQs

    What type of property is this?
    Office building - Office space available for lease in Pittsburgh, Pennsylvania.
    Where is this office building located?
    The property is located at 500 Penn Center Blvd Pittsburgh, PA.
    What are key features of this property?
    This property features: Located at 500 Penn Center Blvd, Pittsburgh, Pennsylvania 15235; Office space available for lease; Located in Penn Center East V
    (412) 208-1413
    We can help!
    Listing Contact
    Jackie Bezek
    Jackie Bezek
    Real Estate License ID: RS332660
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    500 Penn Center Blvd, Pittsburgh, PA 15235
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!