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    700 Washington Rd Pittsburgh, PA 15228

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    700 Washington Rd Pittsburgh, PA 15228

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    • Office buildings
    • 0.07 lot acres
    For Lease
    $16 SF/Yr
    View Listing →
    700 Washington Rd Office Space For Lease
    $16 SF/Yr

    700 Washington Rd Office Space

    Prime Mt. Lebanon Office Suite, 1900 SF Available

    700 Washington Rd, Pittsburgh, PA 15228
    View Listing
    Property ID
    US73-0944608
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 700 Washington Rd

    Lot size
    0.07 lot acres
    Property type
    Office buildings
    APN
    141-F-49
    APU
    141F49

    Description

    This exceptional 4,300 square foot office building, located at 700 Washington Road in Pittsburgh, Pennsylvania's desirable Mt. Lebanon submarket, presents a unique opportunity. Situated on a 0.067-acre lot in the Central Square area, this single-tenant property boasts a CBD zoning designation. The building is classified as Retail, Office, and Special Purpose, with the available space currently configured as a traditional, medical, or creative office suite. The lower-level suite encompasses 1,900 square feet of vacant space, ideal for a variety of uses. Previously utilized as a dance studio, the open-span layout offers flexibility for customization. Two restrooms are conveniently located within the suite. The property's address is 700 Washington Rd, Lower Level, Pittsburgh, PA 15228. Its convenient location in the thriving Mt. Lebanon submarket of Pittsburgh offers excellent accessibility and visibility. The APN is 0141-F-00049. This property is perfect for businesses seeking a well-located, adaptable space in a vibrant community. The available space presents a blank canvas for a business to create its ideal workspace. Don't miss this chance to secure a prime location in a sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.0451
    Latitude
    40.3802
    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
    $9,507
    $75,200
    $183,000
    $258,200
    -
    $75,200
    $183,000
    $258,200

    Comparable in this City

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      0.27 Acres

      1679 Washington Rd

      OFFICE BUILDING • 0.27 Acres
      1679 Washington Rd, Pittsburgh, PA 15228-1643
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      0.09 Acres

      500 Washington Rd

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      500 Washington Rd, Pittsburgh, PA 15228-2817
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      0.28 Acres

      300 Cedar Blvd

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      300 Cedar Blvd, Pittsburgh, PA 15228-1155
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      0.30 Acres

      110 Hemlock St

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    • Value Estimation by Request
      0.22 Acres

      731-733 Washington Rd

      OFFICE BUILDING (MULTI-STORY) • 0.22 Acres
      731-733 Washington Rd, Pittsburgh, PA 15228
      View Details

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      700 Washington Rd Office Space

      Prime Mt. Lebanon Office Suite, 1900 SF Available
      700 Washington Rd, Pittsburgh, PA 15228
      View Details
    View Listing
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    Pittsburgh, PA 15228
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    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.

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