Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    112 3rd Ave Carnegie, PA 15106

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class A office and medical building for lease in Carnegie.

    Type:Office
    Added:
    Sep 8, 2023
    Days on Market:
    956
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 112 3rd Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2006

    Spaces For Lease

    at 112 3rd Ave Contact us

    Available Space $17 /Mo

    Size
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Garrett Cheran

    Listing agent Garrett Cheran License #RSS346228

    Listing office SVN | Three Rivers Commercial Advisors

    Listing date Sep 8, 2023

    Source Crexi

    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

    Overview

    Renovated Class A Office Building

    This is a fully renovated, 2-story, Class A office and medical building available for lease. It is situated in Carnegie, approximately 15 minutes from downtown Pittsburgh and a few minutes from I-376.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carnegie
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.089489
    Latitude
    40.405029

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      PA, Carnegie - Lydia Street

      400 Lydia St, Carnegie, PA 15106
      View Details
    • Contact for pricing

      Carnegie Office Building For Sale

      9,000 SF building with high visibility and parking.
      415 Chartiers Ave, Carnegie, PA 15106
      View Details
    • $17/mo

      Renovated Class A Office Building

      Fully renovated Class A office/medical building in Carnegie, PA.
      112 3rd Ave, Carnegie, PA 15106
      View Details
    • $21/mo

      Creative Space in Parkway West

      Creative office space with open floor plans and parking.
      520 East Main Street, Carnegie, PA, 15106
      View Details
    • Contact for pricing

      Warehouse/Assembly Space Near Highways

      39,000 SF warehouse/assembly space with convenient highway access.
      100 Keystone Dr, Carnegie, PA
      View Details
    • Contact for pricing

      Move-in Ready Office Space

      Office space for lease in Carnegie, PA with free parking.
      400 Lydia St, Carnegie, PA
      View Details
    • $8/mo

      Carnegie Warehouse with Crane Access

      28,080 SF warehouse featuring crane and truck access.
      785 Arch St, Carnegie, PA
      View Details
    • Contact for pricing

      2,500 SF Clear-Span Warehouse

      Clear-span warehouse/garage with drive-in door and three-phase power.
      326 Mansfield Blvd, Carnegie, PA
      View Details
    • Contact for pricing

      Crane-Served Industrial Buildings For Rent

      Three standalone industrial buildings with crane service and air-conditioned space.
      0 Superior St, Carnegie, PA
      View Details
    • Contact for pricing

      Carnegie Office Space For Rent

      6,000 SF office space with abundant natural light.
      146 E Main St, Carnegie, PA
      View Details
    • Contact for pricing

      Crane-Served Industrial Buildings Available

      Three industrial buildings with crane service and air-conditioned manufacturing space.
      1000 Gregg St, Carnegie, PA
      View Details
    • Contact for pricing

      Retail Space in Scott Township

      Retail space in a lively area with steady foot traffic.
      1160 Washington Ave, Carnegie, PA 15106
      View Details

    FAQs

    What type of property is this?
    Office building - Class A office and medical building for lease in Carnegie.
    Where is this office building located?
    The property is located at 112 3rd Ave Carnegie, PA.
    What are key features of this property?
    This property features: Fully renovated, 2‑story, Class A office and medical building.; Prime location in the heart of Carnegie.; Conveniently located near I‑376.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Garrett Cheran
    Real Estate License ID: RSS346228
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!