Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    544 Miltenberger St Pittsburgh, PA 15219

    • Office Properties & Spaces
    • 8,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Avenu: Paramount Film Exchange / Coworking & Hybrid Office
    • Glen Lake Pioneering / (Bike/Boat/Book/etc) Store / Corporate Office
    • CallerReady / (Bike/Boat/Book/etc) Store / Corporate Office
    • Uptown Partners of Pittsburgh / Charitable Organization / Social Service Agency
    • B&T Dryer Vent Cleaning Services Pittsburgh, PA / Construction Company / General Contractor

    Property Details for 544 Miltenberger St

    Property size
    8,000 SF
    Property type
    Office Properties & Spaces

    Description

    This exceptional executive office space, located in Pittsburgh's vibrant Uptown neighborhood at 544 Miltenberger Street, offers 4,251 square feet of beautifully renovated space within a historic building known as the Paramount Film Exchange. The property boasts a total of 8,000 square feet spread across two stories, with 4,251 square feet currently available for lease. The building features modern updates including new windows, HVAC system, updated lighting, enhanced security measures, access control, and keyless entry. Seven parking spaces are included with the lease. The convenient location provides easy access to Downtown Pittsburgh and Oakland, placing tenants within close proximity to Forbes and Fifth Avenues, UPMC Mercy, Duquesne University, and public transportation. The property sits on a 2,940 square foot lot and is zoned PCKIZ. The Allegheny County Assessor's Parcel Number (APN) is 11-J-328. This is a multi-tenant building offering a unique blend of historic charm and contemporary amenities. The available space is ideal for businesses seeking a prestigious and functional office environment in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.9817
    Latitude
    40.436

    Comparable in this City

    • Value Estimation by Request
      110,341 SF

      564 Forbes Ave

      Office Properties & Spaces • 110,341 SF
      564 Forbes Ave, Pittsburgh, PA 15219
      View Details
    • Value Estimation by Request
      26,000 SF

      208 Grant St

      Office Properties & Spaces • 26,000 SF
      208 Grant St, Pittsburgh, PA 15219
      View Details
    • Value Estimation by Request
      51,601 SF

      421 7Th Ave

      Medical offices • 51,601 SF
      421 7Th Ave, Pittsburgh, PA 15219
      View Details
    • Value Estimation by Request
      8,400 SF

      710 5Th Ave

      Coworking space • 8,400 SF
      710 5Th Ave, Pittsburgh, PA 15219
      View Details
    • Value Estimation by Request
      1.10 Acres

      301 Grant St

      OFFICE BUILDING (MULTI-STORY) • 1.10 Acres
      301 Grant St, Pittsburgh, PA 15219-1407
      View Details
    • Value Estimation by Request
      0.67 Acres

      1401 Forbes Ave

      OFFICE BUILDING (MULTI-STORY) • 0.67 Acres
      1401 Forbes Ave, Pittsburgh, PA 15219-5125
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.22 Acres

      Uptown Pittsburgh Redevelopment Opportunity

      Prime Location, Mixed-Use Potential
      1801 Blvd Of The Allies, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      51,601 SF

      Downtown Pittsburgh Redevelopment Opportunity

      6-Story Office Building, Vacant, Value-Add Potential
      421 7Th Ave, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      59,092 SF

      Pittsburgh Office Portfolio: 4 Buildings

      Prime location, redevelopment potential. 59,092 SF total.
      900 5Th Ave, Pittsburgh, PA 15219
      View Details
    • $998,500
      26,000 SF

      Downtown Pittsburgh Office Building

      Value-add opportunity, high potential
      208 Grant St, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      35 SF

      Medical/Office Suites Available

      Suites available, public transportation, secured entry, on-site parking.
      1835 Center Ave, Pittsburgh, PA 15219
      View Details
    • $3,000,000
      0.12 Acres

      Downtown Pittsburgh Office Building

      Updated office building in Pittsburgh Opportunity Zone with parking.
      1940 5Th Ave, Pgh, PA 15219
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      30,000 SF

      Station Square Executive Offices

      Pittsburgh Office Suites Available Now
      101 Station Square Dr, Pittsburgh, PA 15219
      View Details
    • $36 SF/Yr
      661 SF

      Uptown Pittsburgh Executive Office Suite

      Brand new, 661 sq ft, high-visibility space.
      1450 5Th Ave, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      160,000 SF

      Riviera Office Space, Oakland

      Prestigious Oakland office, flexible suites.
      350 Technology Dr, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      12,755 SF

      Downtown Pittsburgh Office Space

      12,755 SF, Multiple Uses, Prime Location
      1801 Blvd Of The Allies, Pittsburgh, PA 15219
      View Details
    • $11 SF/Yr
      34,930 SF

      One Oxford Center Office Suites

      Prime Pittsburgh Office Space: Modern, Flexible
      301 Grant St, Pittsburgh, PA 15219
      View Details
    • $10 SF/Yr
      9,045 SF

      Adaptable Industrial Property For Lease

      Three-level industrial property with warehouse, office space, and parking.
      1613 Forbes Ave, Pittsburgh, PA 15219
      View Details
    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.
    544 Miltenberger St
    Pittsburgh, PA 15219
    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.