Newly Constructed Office
For Sale
Contact for pricing
5824 Forward Ave, Pittsburgh, PA 15217
10,000 SF office space in mixed-use development.
Property Size44,000 SF
Price / SF$0.00
Days on Market156
Property Features for 5824 Forward Ave
General Information
Standard status
Active
Size
44,000 SF
Class
A
Property subtype
Office
Lease Term
Plus Utilities & Cleaning
Building Details
Building Size
44,000 SF
Year Built
2024
Properties For Sale
at 5824 Forward Ave
Office Space
Size
10,000 SF
Term
Negotiable
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Richard L. Beynon · License #PA #AB068671
(412) 298-2236
Source:
Svn
Added: May 14
Changed: Oct 13
Last Checked: Oct 16 at 6:15AM
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
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Investment Insights
Based on property information with market context.
This is a 10,000 SF ground-floor office space available for lease at Flats on Forward, a newly constructed mixed-use development. Constructed in 2024, the space features 21' ceilings and floor-to-ceiling windows. The flexible layout includes private offices, open work areas, conference and meeting space, and a kitchenette. Seventeen dedicated parking spaces are included with the commercial suite. The property is located at a signalized corner at Murray Avenue and Forward Avenue, offering direct access to I-376. The location provides convenient connectivity for staff and clients across the region. The corner of Murray Ave has 13,879 ADT. The property is walkable to restaurants, retail, and transit along the Murray/Forbes corridor.
Key Highlights
- Newly constructed in 2024, offering modern office space.
- 10,000 SF of ground‑floor office space with a flexible layout including private offices, open work areas, conference space, and a kitchenette.
- Features 21' ceilings and floor‑to‑ceiling windows.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,746
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,554,920
$2.6M
Cap Rate 7%
$1,824,943
$1.8M
Cap Rate 9%
$1,419,400
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$225.6K $22.56/SF
− Vacancy
−$55.3K −$5.53/SF
EGI
$170.3K $17.03/SF
− OpEx
−$42.6K −$4.26/SF
NOI
$127.7K $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%
$2,554,920
Cap Rate 7%
$1,824,943
Cap Rate 9%
$1,419,400
Alternative Uses
Best Use
Office B
$1.82M
$1.60M – $2.13M
NOI $127,746 @ 7.0% cap · market cap 510,984.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.18M
$2.79M – $3.72M
NOI $222,935 @ 7.0% cap · market cap 891,740.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,608
Businesses Nearby
Explore this area
Business Placement
Demographics for 15217, PA
26,851
Population
12,582
Households
2.1
Avg Household Size
36
Median Age
74%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
6,885
Density / Sq Mi
$91,695
Median Household Income
$55,890
Median Earnings
$1,412
Median Rent
$431,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Pittsburgh, PA
Frequently Asked Questions
What type of property is this?
Office units - 10,000 SF office space in mixed-use development.
Where is this office units located?
The property is located at 5824 Forward Ave Pittsburgh, PA.
What are key features of this property?
This property features: Newly constructed in 2024, offering modern office space.; 10,000 SF of ground‑floor office space with a flexible layout including private offices, open work areas, conference space, and a kitchenette.; Features **21' ceilings and floor‑to‑ceiling windows.**
