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Property profile & analytics
OFF-MARKET Estimated value $3,120,000
Office buildings

230 3rd Ave Pittsburgh, PA 15222-1624

0.83 ac lot
Individually Owned 3-yr Hold Free & Clear
Property ID
US73-2849824
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Lot 0.83 ac (36,064 SF)
APN 1-H-118
UPID US73-2849824
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • R T Patterson Co Engineering Consultant
  • PPG Garage Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$3.15M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.12M
Owner & transaction history
Zatlin Four L L C · 3 yrs held
Zatlin Four L L C
since 2023
Last sale
$3.1M
1 recorded transaction
2023
$3.1M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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