Listed by Lee & Associates - Western Pennsylvania
$600,000
Investment or Owner-User: 6,886 SF Renovated Mixed-Use
Details
APN 0097-D-00061-0000-00
Property Type Mixed Use
Sub Type office, retail
Square Footage 6,886
Units 3
Cap Rate 9.22%
NOI $55,336
Occupancy 100%
Tenancy Multi
Lease Type Modified
Price per SqFt $87
Class C
Year Built 1909
Year Renovated 2019
Buildings 1
Stories 3
Acreage 0.080
Zoning LNC
Investment Type Value Add
Ground Lease No
Mixed Use | 9.22% CAP | 6,886 SqFt
Marketing description
Investment Property For Sale: 6,886 SF Building Renovated for Office or Retail Use
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
Investment highlights
- 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
Listing Contacts
Listed by Lee & Associates - Western Pennsylvania
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$55,336.00
$4,611.33/mo
Valuation Metrics
0
DSCR
9.22%
Cap Rate
9.22%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
