933 5th Ave, New Kensington, PA 15068

6-story historic office and bank building with surface parking and multiple adjacent parcels, located in the core of Downtown New Kensington, PA, just 25 minutes northeast of Pittsburgh.

The ±56,800 SF building, originally constructed in 1926, offers a unique mix of renovated white-box office space and flexible floor plates suitable for buildout. The property also includes 30 surface parking spaces and over 16,800 SF of additional land. Positioned in a Federal Opportunity Zone, this asset provides significant tax-advantaged investment potential.

Asking Price: $799,999 (Below Replacement Cost)

2. Investment Highlights

• Historic Bank Asset – Former financial branch with vaults, teller stations, and drive-thru.

• Mixed Condition – Fully renovated office floors + shell floors ready for custom buildout.

• Additional Parcels – ±16,800 SF of land, offering expansion, new construction, or increased parking.

• Opportunity Zone Location – Attractive federal tax incentives for investors.

• Accessibility – 5 minutes to Route 28, 25 minutes to Downtown Pittsburgh.

• Market Growth – Downtown New Kensington undergoing revitalization with new retail, restaurants, and residential activity.

3. Property Facts

AttributeDetailsBuilding Size±56,818 SFStories6Typical Floor Size±8,300 SFYear Built1926Building ClassBZoningCommercial (verify locally)Parking30 Surface SpacesAdditional Land±16,800 SF (adjacent lots)ConditionRenovated + raw shell space

4. Market Overview

New Kensington, PA is a riverfront community situated ~18 miles northeast of Pittsburgh. The city is experiencing a revitalization push with new restaurants, retail, residential conversions, and Opportunity Zone investments reshaping the downtown core.

• Population: ~12,000 (local) | ~2.3M (Pittsburgh MSA)

• Workforce: Draws from Allegheny & Westmoreland Counties

• Economic Drivers: Healthcare, education, advanced manufacturing, technology

• Recent Activity: Adaptive reuse projects, new small businesses, and creative arts initiatives

5. Value-Add Potential

• Lease renovated office floors to professional tenants

• Build out lower floors for retail, medical, or government tenants

• Redevelop adjacent lots for new construction, additional parking, or a mixed-use project

• Potential for creative adaptive reuse (lofts, coworking, event space, or secure storage use cases)

6. Financial Overview

• Asking Price: $799,999

• Price per SF: ±$14/SF (building only)

• Replacement Cost: >$200/SF for similar product in the region

• Taxes: ~ $2,874 annually (subject to reassessment)

• Upside: Significant — rent roll creation, land monetization, adaptive reuse