The American Wholesale Building
37,500 SF Mixed-Use Investment Opportunity | Adaptive Reuse Potential
Marketing description
Originally constructed in 1903, The American Wholesale Building has stood as part of the foundation of Pittsburgh’s historic Strip District for more than a century.
Through generations of ownership stewardship, the Property has been carefully maintained, thoughtfully improved, and continuously adapted to meet the evolving needs of Pittsburgh businesses while preserving its historic character.
Today, the American Wholesale Building presents a rare opportunity to acquire one of the Strip District’s most recognizable assets and continue its legacy for generations to come. With a prime Strip District location, 2124 Penn Ave is positioned in the center of Pittsburgh’s rapidly transforming Strip District, one of the region’s premier live-work-play destinations.
Investment highlights
Mixed-use investment opportunity featuring strong in-place income, significant capital improvements, and adaptive reuse potential.
The American Wholesale Building is located in the center of Pittsburgh’s rapidly transforming Strip District, one of the region’s premier live-work-play destinations. The building is surrounded by significant residential, office, retail, hospitality, and technology investment. It's within walking distance to Downtown Pittsburgh, and enjoys convenient access to all major highways, public transportation, and regional transportation corridors. This asset is positioned within a neighborhood experiencing continued population growth, redevelopment, and long-term investment activity.
Exceptional Building Condition
Ownership has made a significant investment, with recent capital improvements including:
Building Systems
- New roof installed in 2025, with a 10-year warranty
- New passenger elevator
- Upgraded fire protection system
- Full-building sprinkler system
Security Infrastructure
- Video surveillance
- Floor-by-floor security system
Highly Functional Interior Improvements
- Twenty-one (21) private restrooms distributed throughout the building
- Kitchenettes incorporated within office suites
- Flexible office configurations suitable for a variety of tenant and owner-user needs
- Attractive interior finishes throughout the Property
- Move-in-ready office spaces requiring limited additional investment
Potential future uses include:
- Multifamily (Potential for approximately 40-45 residential units subject to zoning, architectural review, and municipal reviews)
- Boutique hospitality
- Mixed-use residential
- Creative office
- Live/Work concepts
2124 Penn Avenue offers investors immediate cash flow from a diversified mix of office and retail tenants while providing significant upside through the lease-up of existing vacancy and future redevelopment potential.
Listing Contacts
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