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

    116 15Th St Pittsburgh, PA 15222

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Modern HQ Office Space; Strip District Prime

    Lot size:
    265,000 SF

    Property Features for 116 15Th St

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    265,000 SF
    Class
    A
    Total Rate
    839166.67

    Building Details

    Year Built
    2022
    Buildings
    1
    Stories
    8

    Spaces For Lease

    at 116 15Th St, Pittsburgh, PA 15222 Contact us
    Unit 3rd Floor, Suite 302

    $42 /Mo

    Size
    14,000 SF
    Contact us

    We can help!

    Listing Contact
    Scott Diguglielmo
    Scott Diguglielmo

    Listing Agency: NAI Burns Scalo Listing Agent: Scott Diguglielmo

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

    Learn more

    Overview

    The Vision on Fifteenth offers 244,132 square feet of vacant Class A office and retail space in Pittsburgh's vibrant Strip District. This 2022-built, eight-story building boasts a total of 265,000 square feet, with units ranging from 1,726 to 35,076 contiguous square feet, perfect for multiple tenants. The property features a modern, hospitality-inspired main lobby, unique retail and restaurant space with direct access to Smallman Court, and flexible floor plans designed to accommodate a wide range of business needs and densities. Amenities include 374 parking spaces, 68 bike storage spaces, and EV charging stations. The building is strategically located at the intersection of 15th and Smallman Streets in Allegheny County, offering expansive views of the city and the Allegheny River. Its location within the Strip District provides easy access to public transportation, restaurants, and other amenities. Two drive-in bays and elevators are also available. This exceptional property is ideal for businesses seeking a modern, well-equipped, and conveniently located headquarters in a dynamic urban setting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Allegheny Technologies Incorporated Industrial Manufacturer The Vision on Fifteenth Corporate Office Puttery Golf Course

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.990146
    Latitude
    40.449042

    Nearby Similar for Lease

    • New
      $900 /Mo

      Robinson Township Office Space Available

      1,000 SF office suite with private entrance and highway access.
      4488 Steubenville Pike, Pittsburgh, PA 15205
      View Details
    • New
      $5,000 /Mo
      13,861 SF

      Retail Space in Squirrel Hill

      2000 SF retail space in the heart of Squirrel Hill.
      5854 Forbes Ave, Squirrel Hill, PA 15217
      View Details
    • $5,500 /Mo
      12,001 SF

      Updated Office Space in Beechview

      Updated office space with flexible layout and ample parking.
      1532 Beechview Ave, Beechview, PA 15216
      View Details
    • New
      $850 /Mo
      2,261 SF

      Office Space in Historic Deutschtown

      Office space with reception, kitchenette, and private offices.
      512 Foreland St, Pittsburgh, PA 15212
      View Details
    • New
      $5,000 /Mo
      13,861 SF

      Retail Space in Squirrel Hill

      Well-maintained retail space in a high-traffic commercial area.
      5862 Forbes Ave, Pittsburgh, PA 15217
      View Details
    • $1,800 /Mo

      Havertown Office Space For Lease

      Second-floor office space in high-traffic location near Manoa Shopping Center.
      121 N Eagle Rd, Havertown, PA 19083
      View Details
    • $2,300 /Mo
      5,615 SF

      Turnkey Restaurant Space in Shadyside

      Established restaurant space available for sublease in a high-traffic Pittsburgh neighborhood.
      5102 Baum Blvd, Shadyside, PA 15224
      View Details
    • $3,900 /Mo
      13,068 SF

      SAINT CLAIR Commercial Lease

      Former bank building, move-in ready with vaults and teller station.
      0-2 N 2Nd St, Saint Clair, PA 17970
      View Details
    • $1,755 /Mo
      4,809 SF

      Commercial Space on Brownsville Road

      Commercial space suitable for medical, professional, or office use.
      5600 Brownsville Rd, Pittsburgh, PA 15236
      View Details
    • $950 /Mo

      HAVERTOWN Office Space For Lease

      Renovated office space with skylights and on-site parking.
      1223 2Nd St, Havertown, PA 19083
      View Details
    • $2,100 /Mo

      HAVERTOWN Office Space For Lease

      Office space with reception, storage, and private parking.
      700 Darby Rd, Havertown, PA 19083
      View Details
    • $2,500 /Mo

      Havertown Storefront on Brookline Blvd

      High-visibility end-cap storefront available for lease in Havertown.
      1213 Darby Rd, Havertown, PA 19083
      View Details

    FAQs

    What type of property is this?
    Flex space - Modern HQ Office Space; Strip District Prime
    Where is this flex space located?
    The property is located at 116 15Th St Pittsburgh, PA.
    What is the lease rate?
    The lease rate is $0.00-$42 SF/Yr.
    What are key features of this property?
    This property features: Class A, 265,000 SF mixed-use building, constructed in 2022.; 8-story building with 244,132 SF of vacant space, divisible into units from 1,726 SF to 35,076 SF contiguous.; Located in the Strip District submarket (Fringe cluster) of Allegheny County, at the intersection of 15th Street and 29th and Smallman Streets.
    (724) 984-6251 Call to check price and availability
    Request Owner's contact information
    116 15Th St Pittsburgh, PA 15222
    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.
    116 15Th St
    Pittsburgh, PA 15222
    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
    116 15Th St Pittsburgh, PA 15222
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Diguglielmo
    Scott Diguglielmo
    Real Estate License ID: RS334371
    (724) 984-6251 (412) 250-3000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!