Renovated Furnished Office
For Sale
$375,000
750 Washington Rd, Mt Lebanon, PA 15228
Three lower-level office condos provide furnished workspace with private exterior entrances and a professional built-out layout.
Property Size2,147 SF
Price / SF$174.66
Days on Market24
Property Features for 750 Washington Rd
General Information
Standard status
Active
Size
2,147 SF
Property subtype
Residential Income
Space & Availability
Floor
Lower Level
Furnished
Yes
Additional Details
Public Transit
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$10,279
Building Details
Year Renovated
2019
Buildings
1
Listing Agency:
BERKSHIRE HATHAWAY THE PREFERRED REALTY
(412) 833-7700
Listed By:
Robert Dini
(412) 833-7700
Source:
Exprealty
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 20 at 1:04PM
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 BERKSHIRE HATHAWAY THE PREFERRED REALTY
Investment Insights
Based on property information with market context.
This offering combines three office condominium units totaling approximately 2147 square feet on the lower level of Washington Square Condominium. The space was renovated in 2018-19 and remains furnished, with a reception area, five private offices, a 13X13 conference room, two updated accessible bathrooms, and a 25x10 open workspace. A kitchenette includes granite counters, refrigerator, dishwasher, microwave oven, and soft-close cabinetry. Additional storage and a rear 24x19 flex area expand the usable configuration. The interior includes hardwood flooring across most areas, built-in reception millwork, and shiplap accents. Three heat pump HVAC units are regularly serviced, and the property has been fully rewired.
The office condos have exterior entrances at the front right of the building and sit next to the Mt Lebanon parking garage. The Uptown Business District setting provides access to nearby dining, the PRT subway stop, and a bus line. The layout is identified as suitable for medical, legal, accounting, or other professional office use.
The office condos have exterior entrances at the front right of the building and sit next to the Mt Lebanon parking garage. The Uptown Business District setting provides access to nearby dining, the PRT subway stop, and a bus line. The layout is identified as suitable for medical, legal, accounting, or other professional office use.
Key Highlights
- Approximately 2147 square feet across 3 office condominium units
- Renovated in 2018‑19 and furnished throughout
- 5 private offices, 13X13 conference room, and 25x10 workspace
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
$27,427
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
7.31%
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%
$548,540
$548.5K
Cap Rate 7%
$391,814
$391.8K
Cap Rate 9%
$304,744
$304.7K
Market Conditions
NOI Build-Up for 2,147 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
$48.4K $22.56/SF
− Vacancy
−$11.9K −$5.53/SF
EGI
$36.6K $17.03/SF
− OpEx
−$9.1K −$4.26/SF
NOI
$27.4K $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%
$548,540
Cap Rate 7%
$391,814
Cap Rate 9%
$304,744
Alternative Uses
Best Use
Office B
$391.8K
$342.8K – $457.1K
NOI $27,427 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$683.8K
$598.3K – $797.7K
NOI $47,864 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 15228, PA
18,110
Population
7,776
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
5,659
Density / Sq Mi
$131,087
Median Household Income
$70,899
Median Earnings
$1,130
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three lower-level office condos provide furnished workspace with private exterior entrances and a professional built-out layout.
Where is this office units located?
The property is located at 750 Washington Rd Mt Lebanon, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 2147 square feet across 3 office condominium units; Renovated in 2018‑19 and furnished throughout; 5 private offices, 13X13 conference room, and 25x10 workspace
