Contacts

Perry Nickleach II

SVN | Three Rivers Commercial Advisors

(724) 859-8091

Property Details

Property Type Office - General Office
Property Size 40,400 SF
Parking Spaces Avail. 83
Building Class A
Year Built 1891
Date Updated Apr 5, 2024

Located in South Side. South Side is an area in Pittsburgh located along the Monongahela River across from Downtown. It is divided into two neighborhoods, South Side Flats and South Side Slopes.SVN | Three Rivers Commercial Advisors is pleased to present the sale of Birmingham Place, located at 2305-2315 E Carson Street. The property sits in a great location in the South Side neighborhood, next to the Birmingham Bridge. The property is 58% occupied with strong office tenants in place. The remaining vacant space is a blend of office/retail. The property comes with 52 off street parking spaces, 31 of which are under a lease with PENNDOT. The remaining space can be leased or converted to residential in order maximize the potential of the asset. The current ownership has drawings in place to convert the remaining space to 14 apartments. Another option would be to keep retail on the ground level and put apartments above; or to keep office space. The ample parking leaves this property with multiple options.

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Highlights

Property yields a 6% Cap Rate with 42% of the building being vacant. Excellent value add opportunity to increase your return/ cash-flow by leasing up the vacant space.
Two strong tenants providing substantial revenue with annual rent increases in place
An overabundance of off-street parking with over 80 spaces (One of the parking lots, 31 spaces, is owned by PENNDOT, and is leased by current ownership).
Traffic count of over 15,000 cars per day at this location
Ideal South Side location, next to Birmingham Bridge and just two blocks from the South Side Works
Current ownership has zoning approval to convert vacant space to 14 apartments

Getting around

96/100
Walk Score ®
64/100
Transit Score ®
95/100
Bike Score ®

Powered by Walk Score ®

City Pittsburgh, PA
Neighborhood Southside Flats
Zip Code 15203
Market Pittsburgh

Points of Interest

First Avenue

1.35 miles
Steel Plaza

1.39 miles
Steel Plaza

1.44 miles
Pittsburgh Union Station

1.50 miles
Station Square

1.62 miles
Wood Street

1.71 miles
South Hills Junction

1.88 miles
Gateway

1.90 miles
Bon Air

2.14 miles
Boggs

2.15 miles

Cogo's

0.10 miles
GetGo

0.75 miles
Sunoco

0.79 miles
BP

0.82 miles
American Natural

1.51 miles
Marathon Gas

1.81 miles
Amoco

1.82 miles
Sunoco

1.86 miles
EQT Natural Gas for Vehicles

2.11 miles
Sunoco Gas Station

2.15 miles

Ladle Parking

0.27 miles
Furnace Parking

0.38 miles
Hot Metal Parking

0.42 miles
Ingot Parking

0.46 miles
Second Avenue Parking Plaza

0.94 miles
Public Parking

0.96 miles
Locust Garage

1.09 miles
Forbes Semple Garage

1.11 miles
Forbes Garage

1.12 miles
Melody Parking Lot

1.18 miles

Hotel Indigo

0.70 miles
Hampton Inn Pittsburgh University/Medical Center

0.73 miles
Holiday Inn Express & Suites Pittsburgh-South Side

0.87 miles
Residence Inn

0.87 miles
Quality Inn University Center

0.95 miles
Hilton Garden Inn Pittsburgh University Place

1.04 miles
Traveler's Rest

1.10 miles
Cambria Hotel Pittsburgh - Downtown

1.14 miles
Pittsburgh Marriott City Center

1.29 miles
DoubleTree by Hilton Hotel & Suites Pittsburgh Downtown

1.41 miles

Giant Eagle

0.28 miles
ALDI

0.30 miles
Wharton Square

0.30 miles
Schwartz Living Market

0.63 miles
A & E Deli

1.06 miles
Target

1.58 miles
Warner Centre

1.63 miles
Lotus Food Company

1.64 miles
Robert Wholey & Co. Inc

1.65 miles
Sambok Korean Groceries

1.66 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.