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    3520 5Th Ave Pittsburgh, PA 15213

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    For Sale
    Contact for pricing

    Prime Oakland location, 32,763 SF office building.

    Property size:
    32,763 SF

    Property Features for 3520 5Th Ave

    General Information

    Property type
    Office properties & Spaces
    Square Feet
    32,763 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1968/2018
    Buildings
    1
    Stories
    7
    Units
    13

    We can help!

    Listing Contact
    Bryan Mccann
    Bryan Mccann

    Listing Agency: Colliers - Pittsburgh, Pennsylvania Listing Agent: Bryan Mccann

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Keystone Building, a seven-story, 32,763-square-foot Class B office building located at 3520 Fifth Avenue in Pittsburgh, Pennsylvania's Oakland neighborhood, presents a rare owner-user opportunity. Built in 1968 with renovations completed in 2018, this single building comprises thirteen units. Currently occupied by the University of Pittsburgh, this property offers significant potential in a thriving market. The building's strategic location within the heart of Oakland places it in close proximity to major institutions, including Carnegie Mellon University, UPMC, and the University of Pittsburgh's main campus. Its adjacency to UPMC Presbyterian Hospital and the ongoing construction of a new, 1.2 million-square-foot UPMC Presbyterian expansion (completion in 2026) further enhances its value and potential for growth. The area is experiencing significant development, including a new 10-story life sciences building under construction nearby, and planned expansions at UPMC Children's Hospital. This combination of established tenants, significant nearby development, and available space makes The Keystone Building an exceptional investment opportunity in one of Pittsburgh's most dynamic and sought-after submarkets, characterized by historically low vacancy rates (2%-4%). The property's location within a strong education, research, and medical corridor, coupled with the presence of high-credit-rated tenants like the University of Pittsburgh and UPMC, contributes to its strong investment profile. This presents a unique chance to acquire a substantial property in a rapidly evolving and high-demand area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Linda Mcallister-Lucas Pediatrician Sheridan Kathleen R ... Physician Green Michael D ... Physician HIV Prevention and Care ... Public University

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.959352239901
    Latitude
    40.441163288083

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    FAQs

    What type of property is this?
    Office property - Prime Oakland location, 32,763 SF office building.
    Where is this office property located?
    The property is located at 3520 5Th Ave Pittsburgh, PA.
    What are key features of this property?
    This property features: Core-plus medical office building investment opportunity near University of Pittsburgh.; Investment-grade tenancy with University of Pittsburgh (AA+) and UPMC ('A' bond rating).; Located within UPMC's urban hospital campus, a market with historically low (2-4%) vacancy rates.
    (412) 535-8050 Call to check price and availability
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    3520 5Th Ave Pittsburgh, PA 15213
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    Pittsburgh, PA 15213
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    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
    3520 5Th Ave Pittsburgh, PA 15213
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bryan Mccann
    Bryan Mccann
    Real Estate License ID: RS338595
    (412) 535-8050
    Learn more
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