Updated Multi-Tenant Office
514 Washington Road, Mt Lebanon, PA 15228
For Sale
Contact for pricing
Three-level office property with five occupied rental units, parking, and integral garage/warehouse space.
Property Size6,616 SF
Price / SF$181.38
Days on Market96
Property Features for 514 Washington Road
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Occupancy
Additional Details
Office Units
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Berkshire Hathaway HomeServices The Preferred Realty Pittsburgh
Listed By:
Bob Dini · License PA RS177165L
(412) 855-2058
Source:
Crexi
Added: Aug 6
Changed: Oct 26
Last Checked: Nov 8 at 6:16AM
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 HomeServices The Preferred Realty Pittsburgh
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Investment Insights
Based on property information with market context.
This well-maintained office building at 514 Washington Road offers approximately 5616 interior square feet of finished space across three levels. The layout includes 2191 square feet at the walk-in front street level, 2142 square feet on the mezzanine, and 1283 square feet on the lower terrace level, which is accessed from the rear. An integral garage/warehouse area adds over 1000 square feet at the terrace level.
The property includes five rental units that are fully occupied, along with 12 parking spaces in front and 10 additional spaces at the rear terrace level. Located in Mt. Lebanon's business district, the building has visibility from a corridor with a traffic count exceeding 30,000 vehicles and is zoned Commercial. Built in 1940, the property also offers the flexibility of continued rental use or occupancy by an owner.
The property includes five rental units that are fully occupied, along with 12 parking spaces in front and 10 additional spaces at the rear terrace level. Located in Mt. Lebanon's business district, the building has visibility from a corridor with a traffic count exceeding 30,000 vehicles and is zoned Commercial. Built in 1940, the property also offers the flexibility of continued rental use or occupancy by an owner.
Key Highlights
- Approximately 5616 interior square feet of finished space across 3 levels
- Five rental units are fully occupied
- Integral garage/warehouse area adds over 1000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,517
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,690,340
$1.7M
Cap Rate 7%
$1,207,386
$1.2M
Cap Rate 9%
$939,078
$939.1K
Market Conditions
NOI Build-Up for 6,616 SF
Gross rent
$149.3K $22.56/SF
− Vacancy
−$36.6K −$5.53/SF
EGI
$112.7K $17.03/SF
− OpEx
−$28.2K −$4.26/SF
NOI
$84.5K $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 Rate 5%
$1,690,340
Cap Rate 7%
$1,207,386
Cap Rate 9%
$939,078
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,517 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,494 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
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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
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Market
Properties on Market for Office buildings in Allegheny County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Three-level office property with five occupied rental units, parking, and integral garage/warehouse space.
Where is this office building located?
The property is located at 514 Washington Road Mt Lebanon, 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: Approximately 5616 interior square feet of finished space across 3 levels; Five rental units are fully occupied; Integral garage/warehouse area adds over 1000 square feet
