200 Federal StPittsburgh, PA 15212
- Mixed-use properties
- 0.13 AC
Property Details for 200 Federal St
- Lot size
- 0.13 AC
- Property type
- Mixed-use properties
- Property subtype
- Other investment properties
- APN
- 8-G-136
- APU
- 8G136
Description
This exceptional investment opportunity presents a three-story, 16,200-square-foot Class B commercial building located at 200 Federal Street in Pittsburgh, Pennsylvania, 15212. Situated on a 0.13-acre lot at a high-profile corner location directly across from PNC Park's left field entrance, the property benefits from exceptional visibility within the vibrant North Shore entertainment district. The building currently features a multi-tenant occupancy with one tenant under a modified 12-year lease (commencing January 1, 2020, and expiring January 1, 2032), offering a remaining lease term of eight years. The current lease includes annual rent bumps of 2%. The property's current Net Operating Income (NOI) is $148,569, resulting in a 5.30% capitalization rate. The building's current occupancy is 24%, presenting a significant value-add opportunity through leasing the remaining vacant space. The property is zoned for office, retail, bar, and restaurant uses. The asking price for this value-add investment is $2,800,000. The North Shore's thriving entertainment scene includes PNC Park, Acrisure Stadium, Stage AE, the Andy Warhol Museum, the Carnegie Science Center, Rivers Casino, and numerous bars and restaurants, ensuring a strong tenant pool and high foot traffic. Lease options of 2-5 years are available.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,045,974
- 6.5%
- $965,515
- 7%
- $896,549
-
Comparable approach
- Method
- Valuation
- Relative Method
- $514,470
- Geo Method
- $514,470
-
Alternative Use
- Use
- Valuation
- Residential
- $1,197,238
- Hospitality
- $1,096,664
- Educational
- $912,411
- Medical
- $943,791
- Retail
- $1,419,306
Location Insight
- City
- Pittsburgh
- County
- Allegheny
- State
- Pennsylvania
- Latitude
- 40.4484
- Longitude
- -80.004
- CBSA code
- 38300
- CBSA name
- PITTSBURGH, PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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