5300 Penn AvePittsburgh, PA 15224

Property Details for 5300 Penn Ave

Lot size

0.06 AC

Property type

Specialty properties

APN

50-R-61

APU

50R61

Description

This exceptional mixed-use property, located at 5300 Penn Avenue in Pittsburgh, Pennsylvania's vibrant 8th Ward, presents a unique investment opportunity. The building, a former funeral home, boasts approximately 6,000 square feet of space spread across two and a half stories, situated on a sizable 12,000 square foot corner lot with excellent visibility due to its signalized intersection. The asking price is $1,200,000, translating to $200 per square foot. The property is zoned LNC and offers ample parking with an 18-vehicle lot and a convenient drive-in garage accessible from South Atlantic. Internal features include a 1,000-pound freight elevator servicing the basement and second floor, adding to its versatility. Residential potential is also present with a 2-bedroom, 1-bathroom apartment located on the third floor. This prime East End location on Penn Avenue offers significant potential for a variety of uses, given its size, zoning, and convenient amenities. The property's history as the McCabe Funeral Home adds to its character and potential for adaptive reuse. This is a rare opportunity to acquire a substantial mixed-use property in a highly desirable Pittsburgh neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $645,038

  6.5%

  $595,420

  7%

  $552,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $445,980

  Geo Method

  $445,980

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,164,460

  Retail / Commercial

  $598,653

  Mixed-Use / Specialty

  $597,720

  Hospitality / Lodging

  $440,092

  Office

  $595,420

  Institutional / Educational

  $621,817

  Residential Income

  $727,526

  Multifamily

  $865,897

  Automotive / Energy

  $532,986

  Parking / Income-Based Land

  $182,740

  Restaurant / Food Service

  $313,442

  Healthcare / Senior Housing

  $611,719

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4644

Longitude

-79.9385

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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