Investment Property: 6,886 SF Building Renovated for Office/Retail

Investment Property For Sale: 6,886 SF Building Renovated for Office or Retail Use

Excellent Investment or Owner-Occupier Opportunity

Property Details:

Municipality: City of Pittsburgh, Allegheny County

• Parcel Number: 0097-D-00061-0000-00
• Lot Size: 0.08 acres
• Zoning: LNC
• Building Size: 6,886 SF
• Year Built/Renovated: 1909/2019
• Building Layout: 3-story mixed-use; 1st Floor: Retail - 4,126 SF | 2nd Floor: Office - 1,760 SF | Lower Level: Office/Storage - 1,126 SF
• Access: Each floor has separate, direct street access
• Power: 3-Phase, 600 amp electric
• Parking & Transportation: Abundant street parking; public transport at the door
• NOI: $55,336
• Cap Rate: 9.22%
  *This asset is currently operating at an 8.27% cap rate, with projected performance increasing to a 9.22% cap rate by November 2026, offering strong cash flow and near-term upside at a purchase price of approximately $600,000.

Recent Renovations
The current owners have completed extensive aesthetic and mechanical renovations since their purchase in mid-2018. All work was completed by December, 2020.

• Street-level facade opened up, storefront added
• Brick & cement exterior painted
• Three HVAC RTUs (12.5 ton, 7.5 ton, 5.0 ton), each servicing a single floor, replaced
• Rooftop HVAC ductwork insulation replaced
• Partial roof replacement
• New fire monitoring control system installed
• Emergency back-up exit and stairwell lighting added
• New flooring added to both the upper and street-level spaces
• Upper-level and street-level interiors painted
• Stairwell painted
• Ceiling tiles in the upper-level were replaced as needed, and all of the ceiling tiles on the street level were replaced