224 Penn AvePittsburgh, PA 15221

Property Details for 224 Penn Ave

Lot size

0.23 AC

Property type

Healthcare properties

Property subtype

Medical offices

APN

175-K-261

APU

175K261

Description

This exceptional office space at 224 Penn Avenue in Pittsburgh, PA, offers a fantastic opportunity for businesses seeking flexible and well-located accommodations. The building, a three-story Class B property constructed in 1985, boasts a total of 10,800 square feet, with 3,375 square feet currently available for lease. Units range from a minimum of 825 square feet to a maximum contiguous space of 1,650 square feet, catering to a variety of business needs. The building features convenient amenities including a hydraulic elevator, thirteen parking spaces (a mix of lot and street parking), and secure intercom access. Its location is highly desirable, providing easy access to public transportation via the bus line and proximity to several vibrant Pittsburgh neighborhoods including Wilkinsburg, Point Breeze, Regents Square, Squirrel Hill, and Shadyside. Professional on-site management ensures a well-maintained and efficient work environment. A significant incentive is offered: three months of free rent during the first year of tenancy. This is a rare opportunity to secure high-quality office space in a prime Pittsburgh location at an exceptional value. The building is professionally maintained and offers a secure and convenient work environment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,415,804

  6.5%

  $2,229,973

  7%

  $2,070,689

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,029,391

  Geo Method

  $2,029,391

• Alternative Use

  Use

  Valuation

  Residential

  $2,765,166

  Hospitality

  $2,532,878

  Educational

  $2,107,324

  Medical

  $2,179,798

  Retail

  $3,278,060

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4457

Longitude

-79.8917

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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