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    Property profile & analytics

    101 Corbett Ct Pittsburgh, PA 15237

    • Bowling alleys
    • 1.61 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Nov 08, 2022
    $1,350,000
    Value Estimations
    $1,305,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2468869
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Willdan Engineering / Engineer
    • Steel City Kitchen Remodeling Solutions / Remodeler

    Property Details for 101 Corbett Ct

    Lot size
    1.61 lot acres
    Property type
    Bowling alleys
    APN
    517-D-120
    APU
    517D120

    Description

    This exceptional Class A medical office building, located at 101 Corbett Ct, Pittsburgh, PA 15237, presents a unique investment opportunity. The 20,935 square foot building sits on a 1.6-acre lot and boasts a desirable single-tenant occupancy. Constructed in 1975, this two-story building offers excellent visibility from McKnight Road (40,000 vehicles per day), with prominent signage opportunities. Its convenient location, just off McKnight Road with access via Browns Lane and McIntyre Road, places it within easy reach of abundant retail and dining options, and in close proximity to The Block at Northway shopping center. The property is zoned C1 Regional Commercial District. The building offers a generous 3.75/1,000 SF on-site parking ratio. Commuting is convenient, with a 7-minute drive (9 miles) to downtown Pittsburgh, an 8-minute drive (2.4 miles) to UPMC Passavant Hospital, and a 5-minute drive (1.6 miles) to AHN McCandless Hospital. The building is currently configured for a single tenant but can be easily demised to accommodate two tenants, each occupying approximately 9,735 square feet. This presents a rare chance to acquire a high-profile property in a thriving North Hills location, ideal for a variety of uses including high-end retail, fitness, or medical office space. The property is being redeveloped, offering significant potential for future growth and value appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,305,000
      ML approach
      $1,290,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.0195
    Latitude
    40.5478
    CBSA code
    38300
    CBSA name
    PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $29,843
    $100,000
    $1,000,000
    $1,100,000
    -
    $100,000
    $1,000,000
    $1,100,000

    Comparable in this City

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    • Value Estimation
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      456 Olive St

      BOWLING ALLEY • 0.25 Acres
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    • Value Estimation
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      8700 Duncan Ave

      BOWLING ALLEY • 5.08 Acres
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    • Value Estimation
      $285,000
      1,523 SF

      531 Mt Nebo Rd

      BOWLING ALLEY • 1,523 SF
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    • Value Estimation
      $460,000
      10.30 Acres

      2200 Reis Run Rd

      GOLF COURSE • 10.30 Acres
      2200 Reis Run Rd, Pittsburgh, PA 15237-1772
      View Details
    • Value Estimation
      $350,000
      26.72 Acres

      9700 Mcknight Rd

      THEATER (MOVIE) • 26.72 Acres
      9700 Mcknight Rd, Pittsburgh, PA 15237-6009
      View Details

    Similar Nearby for Sale

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      McCandless Retail Property For Sale

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      Land For Sale Pittsburgh

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    Similar Nearby for Lease

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      Medical Office Space Available

      Medical office space for rent with abundant parking and signage.
      4721 Mcknight Rd, Pittsburgh, PA 15237
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      Medical Office Space on McKnight

      Medical office space available with high traffic and ample parking.
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    • $12 SF/Yr
      20,935 SF

      Prime Medical Office Building, Pittsburgh

      Class A medical office, single-tenant, 20,935 SF
      101 Corbett Ct, Pittsburgh, PA 15237
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space with Redevelopment Improvements

      Retail space with high visibility and ample parking available for rent.
      4700-4780 Mcknight Rd, Pittsburgh, PA 15237
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Wexford Plaza

      Retail space available in Pittsburgh's Wexford Plaza shopping center.
      10620-10688 Perry Hwy, Pittsburgh, PA 15237
      View Details
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    Pittsburgh, PA 15237
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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
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