700 Waterfront Drive, Pittsburgh, PA

Property Type Office - General Office
Property Size 53,183 SF
Lot Size 4 Acre
Parking Spaces Avail. 159
Parking Ratio 3.00/ 1,000 SF
Property Tenancy Single Tenant
Building Class B
Year Built 1998

Location

Map
Street

City Pittsburgh, PA
Neighborhood Troy Hill
Zip Code 15222
Market Pittsburgh

Contacts

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Owner

True Owner
Registered Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Date 13 Jun, 2013
Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date

Market Trends

Average Actual Rents in Pittsburgh

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Pittsburgh Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $25.41
2020 Office Vacancy Rate 15.47%
2020 Office Completions (SF) 1,157,586

Pittsburgh Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

2020 Avg. Price per SF $74.93
Y-o-Y Avg. PpSF Change -35.17%
2020 Office Sales Volume $12.8M
2020 Number of Transactions 3

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Tax

Property Tax in 2022 $247,765
Market Value* $10,895,600
Assessed Value $10,895,600

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 700 Waterfront Drive?

700 Waterfront Drive totals 53,183 square feet.

When was this property built?

700 Waterfront Drive was built in 1998.

When was 700 Waterfront Drive last sold?

700 Waterfront Drive was last sold on 13 Jun, 2013.

What is the property tax for 700 Waterfront Drive?

The property tax for 700 Waterfront Drive in 2022 was $247,765.

What is the market value for 700 Waterfront Drive?

The market value* for 700 Waterfront Drive in 2022 was $10,895,600.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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