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

    3948 Murray Ave, Unit 3950 Pittsburgh, PA 15217-2729

    • Retail residential properties
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Aug 03, 2023
    $200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2347970
    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

    • Retail residential properties

    Property Details for 3948 Murray Ave

    Year built
    1930
    Lot size
    0.24 lot acres
    Property type
    Retail residential properties
    APN
    87-K-274
    APU
    87K274

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.9278
    Latitude
    40.4266
    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
    $3,242
    $86,700
    $54,000
    $140,700
    -
    $86,700
    $54,000
    $140,700

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      5662-5664 Northumberland St

      STORES & APARTMENTS • 0.09 Acres
      5662-5664 Northumberland St, Pittsburgh, PA 15217
      View Details
    • Value Estimation
      $805,000
      5,198 SF

      2435 Beechwood Blvd

      STORES & APARTMENTS • 5,198 SF
      2435 Beechwood Blvd, Pittsburgh, PA 15217-2506
      View Details
    • Value Estimation by Request
      0.06 Acres

      4381 Murray Ave

      STORES & APARTMENTS • 0.06 Acres
      4381 Murray Ave, Pittsburgh, PA 15217-2905
      View Details
    • Value Estimation by Request
      0.36 Acres

      1912 Murray Ave

      STORES & APARTMENTS • 0.36 Acres
      1912 Murray Ave, Pittsburgh, PA 15217-1672
      View Details
    • Value Estimation by Request
      0.06 Acres

      4213 Murray Ave

      STORES & APARTMENTS • 0.06 Acres
      4213 Murray Ave, Pittsburgh, PA 15217-2903
      View Details
    • Value Estimation by Request
      0.09 Acres

      2118 Murray Ave

      STORES & APARTMENTS • 0.09 Acres
      2118 Murray Ave, Pittsburgh, PA 15217-2175
      View Details

    Similar Nearby for Sale

    • $925,000
      2,880 SF

      Forward Avenue Auto Shop

      2,880 SF auto shop with four drive-in bays.
      5711 Forward Ave, Pittsburgh, PA 15217
      View Details
    • $215,000

      Land Near Pittsburgh's Key Locations

      Land with excellent access to highways, downtown, and amenities.
      Pocusset St, Pittsburgh, PA 15217
      View Details
    • $750,000

      1.213 Acre Level Lot

      1.213-acre lot with access to I-376 and Murray Avenue.
      5715 Forward Ave, Pittsburgh, PA 15217
      View Details
    • $680,000
      4,422 SF

      Greenfield Ave Mixed-Use Investment

      Prime Pittsburgh multi-tenant building. High occupancy, strong cash flow.
      1154 Greenfield Ave, Pittsburgh, PA 15217
      View Details
    • $4,250,000
      12,000 SF

      Prime Squirrel Hill Pharmacy Investment

      12,000 SF Pharmacy, High-Demand Location
      4070 Beechwood Blvd, Pittsburgh, PA 15217
      View Details
    • $299,900
      1,100 SF

      Imperial House Condominium

      Two-bedroom condo in Squirrel Hill's Imperial House, 1100 sqft.
      5600 Munhall Rd, Squirrel Hill, PA 15217
      View Details

    Similar Nearby for Lease

    • $2,150 /Mo

      Squirrel Hill Townhouse with Sunroom

      Three-bedroom townhouse in Squirrel Hill with finished basement and parking.
      6656 Northumberland St, Squirrel Hill, PA 15217
      View Details
    • $10 SF/Yr
      1,000 SF

      Retail Space on Hazelwood Avenue

      Retail space available for lease in Pittsburgh, Pennsylvania.
      822-828 Hazelwood Ave, Pittsburgh, PA 15217
      View Details
    • Contact for pricing
      20,587 SF

      Walnut Place Retail Space for Lease

      Pittsburgh Retail Space - 2,007 SF Available
      4612 Browns Hill Rd, Pittsburgh, PA 15217
      View Details
    • $20 SF/Yr
      6,199 SF

      Forbes Avenue Retail/Office Space

      Versatile space in Squirrel Hill's bustling business district.
      5816-5818 Forbes Ave, Squirrel Hill, PA 15217
      View Details
    • $21 SF/Yr
      737 SF

      Office Space Available For Rent

      737 square feet office space available for lease.
      1824 Murray Ave, Pittsburgh, PA 15217
      View Details
    • $2,100 /Mo
      1,200 SF

      Retail Space in Business District

      Retail space available for rent in a business district.
      2000 Murray Ave, Pittsburgh, PA 15217
      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.
    3948 Murray Ave, Unit 3950
    Pittsburgh, PA 15217-2729
    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.