1600 Marys AvePittsburgh, PA 15215

Property Details for 1600 Marys Ave

Lot size

0.54 AC

Property type

Commercial real estate

APN

168-K-252

APU

168K252

Description

This 90,000-square-foot Class B industrial warehouse, built in 1955, is located in Sharpsburg, Allegheny County, Pennsylvania. Currently, 24,407 square feet are available for lease. The property features multiple tenants and offers a unique opportunity for businesses seeking versatile space. The building boasts 15-foot ceiling heights and includes three shared 8x8-foot dock-high doors with access to a 6,000-pound freight elevator, and one dedicated 8x10-foot dock-high door with access to a 4,000-pound freight elevator. Ample dedicated, paved off-street parking and bike racks are provided for tenant convenience. The property is undergoing evaluation for major renovations, including new restrooms, improved lighting, an updated entrance, a new sprinkler system, and cosmetic upgrades. Pre-renovation rental rates are attractive. This location is particularly well-suited for businesses in the "maker" industry, and its strategic location within a Qualified Opportunity Zone (CT 4240) offers significant tax advantages. Enjoy quick access to the Highland Park and 62nd Street Bridges, Route 8, and Route 28, placing you in close proximity to Carnegie Mellon University, UPMC, the University of Pittsburgh, and "Robotics Row." One immediately available space totals 3,948 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $6,088,440

  6.5%

  $5,620,100

  7%

  $5,218,660

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,782,760

  Geo Method

  $4,701,790

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,791,400

  Retail / Commercial

  $5,587,280

  Mixed-Use / Specialty

  $5,609,520

  Hospitality / Lodging

  $4,170,410

  Office

  $5,620,100

  Institutional / Educational

  $5,846,700

  Residential Income

  $6,840,640

  Multifamily

  $7,970,580

  Automotive / Energy

  $5,011,460

  Parking / Income-Based Land

  $1,687,740

  Restaurant / Food Service

  $3,007,520

  Healthcare / Senior Housing

  $5,709,220

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4962

Longitude

-79.9257

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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