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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3046 Penn Ave Pittsburgh, PA 15201-1521

    • Commercial real estate
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Jul 06, 2022
    $1,325,000
    Value Estimations
    $1,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3908151
    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

    • Q-Dot Inc / General Contractor / Construction Company
    • Summer Glow Spray Tans / Tanning Salon
    • Totaline / Distribution Center / Logistics Company

    Property Details for 3046 Penn Ave

    Lot size
    0.07 lot acres
    Property type
    Commercial real estate
    APN
    25-G-183
    APU
    25G183

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,350,000
      ML approach
      $1,300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.9715
    Latitude
    40.4594
    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
    $636
    $25,000
    $2,600
    $27,600
    -
    $25,000
    $2,600
    $27,600

    Comparable in this City

    • Value Estimation by Request

      3405 Denny St

      Land
      3405 Denny St, Pittsburgh, PA 15201
      View Details
    • Value Estimation by Request
      0.02 Acres

      3030 Penn Ave

      COMMERCIAL (GENERAL) • 0.02 Acres
      3030 Penn Ave, Pittsburgh, PA 15201-1521
      View Details
    • Value Estimation by Request
      0.09 Acres

      5111 Butler St

      COMMERCIAL (GENERAL) • 0.09 Acres
      5111 Butler St, Pittsburgh, PA 15201-2606
      View Details
    • Value Estimation by Request
      0.03 Acres

      3535 Butler St

      COMMERCIAL (GENERAL) • 0.03 Acres
      3535 Butler St, Pittsburgh, PA 15201-1314
      View Details
    • Value Estimation by Request
      0.37 Acres

      5170 Butler St

      COMMERCIAL (GENERAL) • 0.37 Acres
      5170 Butler St, Pittsburgh, PA 15201-2603
      View Details
    • Value Estimation by Request
      0.16 Acres

      4101 Butler St

      COMMERCIAL (GENERAL) • 0.16 Acres
      4101 Butler St, Pittsburgh, PA 15201-3121
      View Details

    Similar Nearby for Sale

    • $2,800,000
      50,537 SF

      Prime Lawrenceville Church Property

      Large Church, Redevelopment Potential, 1+ Acre Lot
      340 46Th St, Pittsburgh, PA 15201
      View Details
    • $275,000

      Lawrenceville Commercial Land

      Prime Pittsburgh development site. 5,200 sq ft.
      3405 Denny St, Pittsburgh, PA 15201
      View Details
    • Contact for pricing
      24,000 SF

      Strip District Flex Space

      7,435 SF flex space in the Strip District.
      3232 Penn Ave, Pittsburgh, PA 15201
      View Details
    • $1,652,300
      12,710 SF

      Versatile Warehouse/Showroom Space

      12,710 SF warehouse/showroom in Pittsburgh.
      3600 Liberty Ave, Pittsburgh, PA 15201
      View Details
    • $2,300,000
      22,000 SF

      Strip District Industrial/Office Building

      22,000 SF building with 8,640 SF parking lot.
      2934 Smallman St, Pittsburgh, PA 15201
      View Details
    • Contact for pricing
      40,000 SF

      Riverfront Land in Lawrenceville

      3.14 acres of riverfront land near Strip District.
      19 35Th St, Pittsburgh, PA 15201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      110,609 SF

      3011 Smallman St

      Office space • 110,609 SF
      3011 Smallman St, Pittsburgh, PA 15201
      View Details
    • Contact for pricing
      15,609 SF

      Retail Property in Pittsburgh Available

      Retail property available for lease in Pittsburgh, Pennsylvania.
      3300 Penn Ave, Pittsburgh, PA 15201
      View Details
    • Contact for pricing
      7,000 SF

      7,000 SF Flex Space Available

      Flex space divisible to 1,750 SF for rent.
      134 55Th St, Pittsburgh, PA 15201
      View Details
    • Contact for pricing
      24,000 SF

      24,000 SF Office Building

      Office building with excellent parking and 24,000 square feet.
      3000 Smallman St, Pittsburgh, PA 15201
      View Details
    • Contact for pricing
      46,000 SF

      Industrial Space Available For Lease

      Industrial and warehouse spaces available for lease.
      12 Mccandless Ave, Pittsburgh, PA 15201
      View Details
    • $2,400 /Mo

      Updated Lawrenceville Duplex Unit

      Updated two-bedroom unit in Lawrenceville with modern features.
      5208 Butler St, Pittsburgh, PA 15201
      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.
    3046 Penn Ave
    Pittsburgh, PA 15201-1521
    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.