Gut-Renovated Retail Bay
623 E Ohio St, Pittsburgh, PA 15212
For Sale
Contact for pricing
Three newly subdivided, street-front retail bays with immediate availability near Allegheny General Hospital.
Property Size8,024 SF
Days on Market145
Property Features for 623 E Ohio St
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Building Details
Building Size
Properties For Sale
at 623 E Ohio St Contact usSpace A
Size
1,311 SF
Term
Negotiable
Space B
Size
728 SF
Term
Negotiable
Space C
Size
1,374 SF
Term
Negotiable
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Richard L. Beynon · License #PA #AB068671
(412) 298-2236
Source:
Svn
Added: Jun 17
Changed: Nov 6
Last Checked: Nov 6 at 7:34AM
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.
The former Rite Aid building has been gut-renovated and redivided into three individual street-front retail bays. Each suite is configured as a separate bay, designed for independent retailers and service businesses looking for a storefront-ready layout with direct visibility to East Ohio Street. Availability is immediate.
The property is located on Pittsburgh’s North Side at 623 E Ohio St, among a mix of independent shops and neighborhood draws including Fig & Ash, Siempre Algo, Prantl's Bakery, Yinz Coffee, and Farmer's Daughter. It is steps from Allegheny General Hospital and offers direct access to I-279, with Downtown Pittsburgh noted as roughly five minutes away.
These retail bays are well suited for operators seeking a smaller-format storefront presence with a dedicated, street-level entrance. The building’s subdivision into three separate bays supports a range of independent retail and service concepts, and the immediate availability allows for fast leasing and occupancy planning. Household income in the area is reported to average over $91,000 within a half-mile radius, reflecting a strong local consumer base for neighborhood-oriented businesses.
The property is located on Pittsburgh’s North Side at 623 E Ohio St, among a mix of independent shops and neighborhood draws including Fig & Ash, Siempre Algo, Prantl's Bakery, Yinz Coffee, and Farmer's Daughter. It is steps from Allegheny General Hospital and offers direct access to I-279, with Downtown Pittsburgh noted as roughly five minutes away.
These retail bays are well suited for operators seeking a smaller-format storefront presence with a dedicated, street-level entrance. The building’s subdivision into three separate bays supports a range of independent retail and service concepts, and the immediate availability allows for fast leasing and occupancy planning. Household income in the area is reported to average over $91,000 within a half-mile radius, reflecting a strong local consumer base for neighborhood-oriented businesses.
Key Highlights
- Three newly subdivided, street‑front retail bays for lease at 623 E Ohio St on Pittsburgh’s North Side
- Spaces range from 728 to 1,374 SF and are available immediately
- Former Rite Aid has been gut‑renovated and redivided into three individual street‑front bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,520
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,870,400
$1.9M
Cap Rate 7%
$1,336,000
$1.3M
Cap Rate 9%
$1,039,111
$1.0M
Market Conditions
NOI Build-Up for 8,024 SF
Gross rent
$144.4K $18.00/SF
− Vacancy
−$10.8K −$1.35/SF
EGI
$133.6K $16.65/SF
− OpEx
−$40.1K −$5.00/SF
NOI
$93.5K $11.66/SF
Area
Pittsburgh, PA
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,870,400
Cap Rate 7%
$1,336,000
Cap Rate 9%
$1,039,111
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.56M
NOI $93,520 @ 7.0% cap · market cap 519,555.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $178,883 @ 7.0% cap · market cap 993,794.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15212, PA
27,016
Population
15,937
Households
1.7
Avg Household Size
38
Median Age
37%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,658
Density / Sq Mi
$61,712
Median Household Income
$45,325
Median Earnings
$1,114
Median Rent
$167,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Storefront properties in Pittsburgh
Vacancy Rate% for Retail in Pittsburgh, PA
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Frequently Asked Questions
What type of property is this?
Storefront property - Three newly subdivided, street-front retail bays with immediate availability near Allegheny General Hospital.
Where is this storefront property located?
The property is located at 623 E Ohio St Pittsburgh, PA.
What are key features of this property?
This property features: Three newly subdivided, street‑front retail bays for lease at 623 E Ohio St on Pittsburgh’s North Side; Spaces range from 728 to 1,374 SF and are available immediately; Former Rite Aid has been gut‑renovated and redivided into three individual street‑front bays
