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

    2000 Technology Dr Pittsburgh, PA 15219-3112

    • Office buildings
    • 3.86 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2024
    $9,300,000
    Value Estimations
    $9,300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4877021
    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

    • Freedom Digital Marketing / Internet Shop
    • flyRuby / Aviation Consultant / Airline
    • Jewish Federation of Greater Pittsburgh / Social Services Organization
    • National Cyber-Forensics and Training Alliance / Non-Profit Organization
    • National Cyber Forensics & Training Alliance / Non-Profit Organization

    Property Details for 2000 Technology Dr

    Lot size
    3.86 lot acres
    Property type
    Office buildings
    APN
    11-S-48
    APU
    11S48

    Description

    This exceptional Class A office building, located at 2000 Technology Drive in Pittsburgh's University District, presents a compelling investment opportunity. The 69,543 square foot, four-story property boasts a 96.6% occupancy rate, generating a substantial net operating income (NOI) of $1,130,606, representing a 10.00% capitalization rate. The asking price is $11,306,000, translating to $162.58 per square foot. Built in 1994, the building features a gross lease structure and houses four tenants, including National Cyber-Forensics and Training Alliance, Jewish Federation of Greater Pittsburgh, Pike Engineering, and Everett & Hurite Ophthalmic Association. The property includes 243 surface-level parking spaces (3.5 spaces per 1,000 square feet), a significant amenity in this dense urban area. Situated on a 3.86-acre riverfront lot, the building offers stunning views and benefits from its location within the Pittsburgh Technology Center, a thriving hub for technology, medicine, research, and development. The building's prime location between universities and the Central Business District, coupled with the limited availability of developable land in the Oakland submarket, ensures long-term investment security. The remaining 2,394 square feet of vacant space presents an opportunity for further income generation. The weighted average lease term for existing tenants is 5.5 years. This property offers a rare combination of high occupancy, strong cash flow, and a desirable location in a rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,300,000
      ML approach
      $9,300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.9701
    Latitude
    40.4343
    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
    $213,890
    $3,366,300
    $5,917,100
    $9,283,400
    -
    $3,366,300
    $5,917,100
    $9,283,400

    Comparable in this City

    • 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
    • Value Estimation by Request
      0.71 Acres

      445 Ft Pitt Blvd

      OFFICE BUILDING (MULTI-STORY) • 0.71 Acres
      445 Ft Pitt Blvd, Pittsburgh, PA 15219-1318
      View Details
    • Value Estimation by Request
      0.44 Acres

      112 Washington Pl

      OFFICE BUILDING (MULTI-STORY) • 0.44 Acres
      112 Washington Pl, Pittsburgh, PA 15219-3458
      View Details
    • Value Estimation
      $565,000
      1.63 Acres

      500 1st Ave

      OFFICE BUILDING (MULTI-STORY) • 1.63 Acres
      500 1st Ave, Pittsburgh, PA 15219-3128
      View Details
    • Value Estimation by Request
      0.05 Acres

      1318 5th Ave

      OFFICE BUILDING • 0.05 Acres
      1318 5th Ave, Pittsburgh, PA 15219-6233
      View Details

    Similar Nearby for Sale

    • $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
    • Contact for pricing
      30,507 SF

      Move-in Ready Office Suites

      Office building with move-in ready suites and on-site parking.
      1901 Centre Ave, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      5,000 SF

      Two-Story Office Building with Parking

      5,000 SF office building with parking near UPMC.
      1700 Forbes Ave, 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
    • 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

    Similar Nearby for Lease

    • $38 SF/Yr
      327,171 SF

      Class A Office Building Space

      45-story Class A office building with prime downtown location.
      301 Grant St, Pittsburgh, PA 15219
      View Details
    • Contact for pricing
      160,200 SF

      Innovation District Life Sciences Hub

      Six-floor, 160,000 SF building in Pittsburgh Innovation District.
      350 Technology 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
      3,000 SF

      Move-in Ready Office Suites Available

      Office suites for rent with on-site parking and public transportation.
      1901-1915 Centre Ave, Pittsburgh, PA 15219
      View Details
    • $15 SF/Yr
      838 SF

      Forbes Avenue Office Space Available

      Office space available for rent on Forbes Avenue.
      5867-5868 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.
    2000 Technology Dr
    Pittsburgh, PA 15219-3112
    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.