200 Federal StPittsburgh, PA 15212

  • Mixed-use properties
  • 0.13 AC
For Sale
$2,800,000 View listing

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
200 Federal St, Pittsburgh, Pennsylvania

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$38,375
$507,500
$1,158,100
$1,665,600
-
$507,500
$1,158,100
$1,665,600

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