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    Property profile & analytics

    230 3Rd Ave Pittsburgh, PA 15222

    • Office buildings
    • 0.83 lot acres
    For Sale
    View listing
    $2,300,000
    Value Estimation
    Last Sale
    Mar 03, 2023
    $3,100,000
    Location Intelligence
    Property ID
    US73-2849824
    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

    • R T Patterson Co / Engineering Consultant
    • PPG Garage / Parking Garage

    Property Details for 230 3Rd Ave

    Lot size
    0.83 lot acres
    Property type
    Office buildings
    APN
    1-H-118
    APU
    1H118

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $3,120,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,975,000
      6.5%
      $3,420,000
      7%
      $2,950,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $3,045,000
      Geo Method
      $3,395,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $3,470,000
      Retail
      $3,580,000
      Mixed-Use
      $3,545,000
      Hospitality
      $2,975,000
      Educational
      $3,380,000
      Residential Income
      $3,015,000
      Energy
      $3,370,000
      Income-Based Land
      $3,180,000
      Food Service
      $2,905,000

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.0028
    Latitude
    40.4391
    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
    $85,248
    $1,914,500
    $1,785,500
    $3,700,000
    -
    $1,914,500
    $1,785,500
    $3,700,000

    Comparable in this City

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      View Details

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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
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