4300 Murray AvePittsburgh, PA 15217

Property Details for 4300 Murray Ave

Lot size

0.11 AC

Property type

Retail properties

Property subtype

Banks

APN

88-A-324

APU

88A324

Description

This exceptional 1,734 square foot retail property, located at 4300 Murray Avenue in Pittsburgh, Pennsylvania's Greenfield neighborhood (15th ward), presents a unique investment opportunity. Formerly a bank branch, this vacant building boasts a desirable location directly across from a bustling Giant Eagle grocery store, ensuring high visibility and foot traffic. The property benefits from its proximity to thriving neighborhoods including Squirrel Hill, Shadyside, Oakland, the University of Pittsburgh, Carnegie Mellon University, and the Waterfront Shopping Center. Built in 1980, the brick and masonry structure sits on a 0.11-acre lot (5,000 square feet) and features a single drive-thru lane and an on-site ATM (potential for lease-back). The building includes a full lower level, partially finished with a bathroom, break area, storage, and utility rooms. Recent improvements include a new roof (Summer 2023) and a new HVAC compressor (Spring 2023). The property has a 200-amp electric service. The assessed value is $256,300, with approximate annual property taxes of $5,995. Zoned LNC (Local Neighborhood Commercial), this property offers significant potential for a variety of retail uses. Offers are due March 1, 2024. Detailed offer submission instructions are available online. Two parking spaces are available on-site.

• CAP approach

  CAP return

  Valuation

  6%

  $1,749,375

  6.5%

  $1,614,808

  7%

  $1,499,465

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,519,244

  Geo Method

  $2,519,244

• Alternative Use

  Use

  Valuation

  Residential

  $1,362,151

  Hospitality

  $1,247,723

  Educational

  $1,038,091

  Medical

  $1,073,792

  Retail

  $1,614,808

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4218

Longitude

-79.9291

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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