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    230 3Rd Ave Pittsburgh, PA 15222

    Sponsored
    For Sale
    $2,300,000

    Vacant 51,200 SF Office Building

    Property size:
    51,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 5-story, 51,200 square foot office building at 230 Third Avenue in Pittsburgh, PA, is offered for sale at $2,300,000 ($44.92/SF). Currently vacant, this Class B property, built in 1980, presents a unique redevelopment opportunity. Its prime location in the heart of Pittsburgh's Central Business District, adjacent to Market Square and Point Park University, offers unparalleled access to amenities, public transportation, and a vibrant urban environment. The building features two center-core elevators (2,500 lb capacity each), two stairwells, and nine on-site parking spaces. Its proximity to Point State Park and the confluence of the three rivers adds to its appeal. The property's high walk score (99/100) and transit score (97/100) further enhance its desirability. Potential redevelopment options include multifamily, hotel, or short-term rental uses. The City of Pittsburgh and the Urban Redevelopment Authority may offer tax credits, adding further investment incentive. The net rentable area is 46,860 square feet. This is a rare chance to acquire a significant asset in a thriving downtown location.

    Property Features for 230 3Rd Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    51,200 SF
    Class
    B

    Building Details

    Year Built
    1980
    Buildings
    1
    Stories
    5

    HighLights

    • Prime location in Pittsburgh's Central Business District, adjacent to Market Square and Point Park University.
    • Redevelopment opportunity with two elevators and two stairwells.
    • Exceptional walkability (99/100) and transit accessibility (97/100).
    • Proximity to Market Square's diverse retail, dining, and entertainment options.
    • Potential tax credits available through the City of Pittsburgh and the Urban Redevelopment Authority.
    Property Profile Location Intelligence

    Current Use by Public Records

    R T Patterson ... Engineering Consultant PPG Garage Parking Garage

    Suggested Use

    Realty agency Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.0026154
    Latitude
    40.439068

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    FAQs

    What type of property is this?
    Office Property / Space - Vacant 51,200 SF Office Building
    Where is this office property / space located?
    The property is located at 230 3Rd Ave Pittsburgh, PA.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Prime location in Pittsburgh's Central Business District, adjacent to Market Square and Point Park University.; Redevelopment opportunity with two elevators and two stairwells.; Exceptional walkability (99/100) and transit accessibility (97/100).
    (412) 995-3810
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    230 3Rd Ave Pittsburgh, PA 15222
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    Pittsburgh, PA 15222
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    Realmo Value Estimation

    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.

    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.

    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
    230 3Rd Ave Pittsburgh, PA 15222
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