Mt. Washington Office/Residential
For Sale
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55 Wyoming St, Pittsburgh, PA 15211
10,505 SF building in Pittsburgh's Mt. Washington neighborhood.
Property Size10,505 SF
Price / SF$157.07
Days on Market751
Property Features for 55 Wyoming St
General Information
Standard status
Active
Size
10,505 SF
Class
C
Property subtype
Office
Zoning
LNC & P
Building Details
Stories
3
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Richard Beynon · License #PA AB068671
(412) 536-5036
Source:
Crexi
Added: Aug 16, 2024
Changed: Aug 16
Last Checked: Sep 3 at 11:29AM
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
Investment Insights
Based on property information with market context.
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.
Key Highlights
- City and river views
- Parking for 17 cars
- 10,505 SF, 3‑story building
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
$134,197
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
8.13%
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%
$2,683,940
$2.7M
Cap Rate 7%
$1,917,100
$1.9M
Cap Rate 9%
$1,491,078
$1.5M
Market Conditions
NOI Build-Up for 10,505 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
$237.0K $22.56/SF
− Vacancy
−$58.1K −$5.53/SF
EGI
$178.9K $17.03/SF
− OpEx
−$44.7K −$4.26/SF
NOI
$134.2K $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%
$2,683,940
Cap Rate 7%
$1,917,100
Cap Rate 9%
$1,491,078
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,197 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.90M
NOI $234,193 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 15211, PA
10,935
Population
6,700
Households
1.6
Avg Household Size
36
Median Age
53%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
6,834
Density / Sq Mi
$75,522
Median Household Income
$48,913
Median Earnings
$1,355
Median Rent
$207,200
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 - 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
