Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mt. Washington Office/Residential Conversion Title is generated by Realmo AI

    55 Wyoming St, Pittsburgh, PA 15211

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    10,505 SF building in Pittsburgh's Mt. Washington neighborhood.

    Type:Office
    Property size:
    10,505 SF
    Price / SF:
    $157/SF
    Added:
    Aug 16, 2024
    Days on Market:
    660
    Last Refresh:
    May 12 at 11:14 pm

    Property Features for 55 Wyoming St

    General Information

    Standard status
    Active
    Size
    10,505 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Richard Beynon

    Listing agent Richard Beynon License #PA AB068671

    Listing office SVN | Three Rivers Commercial Advisors

    Listing date Aug 16, 2024

    Source Crexi

    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 SVN | Three Rivers Commercial Advisors

    HighLights

    • City and river views
    • Parking for 17 cars
    • 10,505 SF, 3‑story building
    • Prime location in Pittsburgh's Mt Washington neighborhood
    • Office or residential conversion opportunity
    • Versatile space

    Overview

    Located in Pittsburgh's Mt. Washington neighborhood, 55 Wyoming St presents a 10,505 SF, 3-story building suitable for office or residential conversion. The property offers views of the city and river. It includes parking for 17 cars, providing accessibility for tenants or visitors.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $237.0k $22.56
    − Vacancy −$58.1k −$5.53
    EGI $178.9k $17.03
    − OpEx −$44.7k −$4.26
    NOI $134.2k $12.77
    10,505 SF · lease $22.56/SF/yr · vacancy 24.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.92M
    $1.68M – $2.24M (±1% cap)
    NOI $134,197 @ 7.0% cap · market cap 8.13%
    Second Best
    Apartment 5plus
    $1.58M
    $1.38M – $1.85M (±1% cap)
    NOI $110,794 @ 7.0% cap · market cap 6.71%
    Theoretical Best
    Office A
    $3.35M
    $2.93M – $3.90M (±1% cap)
    NOI $234,193 @ 7.0% cap · market cap 14.19%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.00596
    Latitude
    40.429024

    Nearby Similar for Sale

    • $439,900

      High-Visibility Commercial Property with Parking

      Commercial property with high visibility and 14 on-site parking spaces.
      5119 Clairton Blvd, Baldwin Boro, PA 15236
      View Details
    • $700,000

      Warehouse in High-Growth Location

      Prime commercial opportunity near upcoming Esplanade development.
      2320 California Ave, Marshall Shadeland, PA 15212
      View Details
    • $300,000

      Classic Church with Large Dining

      Historic church on half-acre lot with ample parking.
      898 Forest Ave, Ross Twp, PA 15202
      View Details
    • $600,000

      Mixed-Use Building in North Oakland

      Multi-use building near hospitals, businesses, and universities.
      420 N Craig St, Oakland, PA 15213
      View Details
    • $298,888

      Fineview Mixed-Use Redevelopment Opportunity

      Large mixed-use property near Downtown Pittsburgh for sale.
      101 Hazlett St, Fineview, PA 15214
      View Details
    • $425,000

      Established Retail Location For Sale

      High-visibility retail space with ample parking and versatile C-2 zoning.
      5601 Babcock Blvd, Ross Twp, PA 15237
      View Details
    • $539,900

      Ingomar Auto Service Garage For Sale

      Auto service garage with gas and diesel pumps in McCandless.
      739 W INGOMAR RD, McCandless, PA 15237
      View Details
    • $259,999
      12,000 SF

      Versatile East Hills Industrial Space

      12,000 sq ft property ideal for various commercial uses.
      8033 Bennett Street, East Hills, PA 15221
      View Details
    • $250,000
      3,200 SF

      Retail - Penn Hills, PA

      Large 6-bay auto garage with equipment on ~0.75 acre lot.
      801 Universal Rd, Pittsburgh, PA 15235
      View Details
    • $349,000

      Versatile Property in High-Traffic Location

      Retail or office property with flexible layout and convenient access.
      157/159 Cemetery Ln, Ross Twp, PA 15237
      View Details
    • $244,000

      Flexible Office Condos For Sale

      Two office condos with income potential near Ross Park Mall.
      2006-2007 Kinvara Dr, Ross Twp, PA 15237
      View Details
    • $595,000

      South Side Retail Opportunity

      6,800 SF retail property in Pittsburgh's South Side.
      1825 E Carson Street, South Side, PA 15203
      View Details

    FAQs

    What type of property is this?
    Office building - 10,505 SF building in Pittsburgh's Mt. Washington neighborhood.
    Where is this office building located?
    The property is located at 55 Wyoming St Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: City and river views; Parking for 17 cars; 10,505 SF, 3‑story building
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Richard Beynon
    Real Estate License ID: PA AB068671
    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
    55 Wyoming St, Pittsburgh, PA 15211
    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!