Shadyside Medical/Lab Space For
5560 Centre Ave, Pittsburgh, PA 15232
For Sale
Contact for pricing
Class A medical/lab space in Pittsburgh's vibrant Shadyside neighborhood.
Property Size16,038 SF
Lot Size0.29 Acres
Price / SF$149.64
Days on Market264
Property Features for 5560 Centre Ave
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Year Renovated
Buildings
Stories
Listing Agency:
Newmark
Listed By:
Martin Perry · License PA RS296875
(412) 434-1031
Source:
Crexi
Added: Feb 19
Changed: Oct 26
Last Checked: Nov 8 at 7:40AM
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 Newmark
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Investment Insights
Based on property information with market context.
This 16,038 square foot building offers two floors of Class A medical and lab space. Situated on a 12,424 square foot parcel, the property includes approximately 20 dedicated off-street parking spaces. The building, renovated in 2017, is zoned General Commercial and benefits from a prominent corner location at the intersection of Centre Avenue and S Negley Avenue. Located in Shadyside, a vibrant Pittsburgh neighborhood, the property is adjacent to the Giant Eagle Market District Express and is located minutes from Carnegie Mellon University, the University of Pittsburgh, UPMC Hillman Cancer Center, East Liberty’s Bakery Square, Duolingo Headquarters, and Google’s Pittsburgh Office. The property is suitable for commercial real estate and medical office space.
Key Highlights
- Two Floors of Class A - Medical / Lab Space
- Excellent Location on the intersection of Centre Avenue and S Negley Avenue
- 16,038 SF Building Size / 12,424 SF Parcel Size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,879
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,097,580
$4.1M
Cap Rate 7%
$2,926,843
$2.9M
Cap Rate 9%
$2,276,433
$2.3M
Market Conditions
NOI Build-Up for 16,038 SF
Gross rent
$361.8K $22.56/SF
− Vacancy
−$88.6K −$5.53/SF
EGI
$273.2K $17.03/SF
− OpEx
−$68.3K −$4.26/SF
NOI
$204.9K $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 Rate 5%
$4,097,580
Cap Rate 7%
$2,926,843
Cap Rate 9%
$2,276,433
Alternative Uses
Best Use
Office B
$2.93M
$2.56M – $3.41M
NOI $204,879 @ 7.0% cap · market cap 8.54%
Second Best
Healthcare Medical
$2.78M
$2.43M – $3.24M
NOI $194,342 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,543 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,401
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 15232, PA
12,042
Population
6,740
Households
1.8
Avg Household Size
29
Median Age
81%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
15,053
Density / Sq Mi
$66,139
Median Household Income
$40,158
Median Earnings
$1,388
Median Rent
$522,000
Median Home Value
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Market
Properties on Market for Medical Office Space in Pittsburgh
Vacancy Rate% for Office in Pittsburgh, PA
Similar Off Market Nearby
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- East End Veterinary Medical Centre — 5875 Ellsworth Ave, Pittsburgh, PA 15232
- Veterinary Emergency Group — 6244 Penn Ave, Pittsburgh, PA 15206
Frequently Asked Questions
What type of property is this?
Medical Office Space - Class A medical/lab space in Pittsburgh's vibrant Shadyside neighborhood.
Where is this medical office space located?
The property is located at 5560 Centre Ave Pittsburgh, PA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Two Floors of Class A - Medical / Lab Space; Excellent Location on the intersection of Centre Avenue and S Negley Avenue; 16,038 SF Building Size / 12,424 SF Parcel Size
