2111 Penn AvePittsburgh, PA 15222

Property Details for 2111 Penn Ave

Year built

1918

Lot size

0.11 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

9-D-149

APU

9D149

Description

This exceptional two-story retail building, located at 2111 Penn Avenue in Pittsburgh's thriving Strip District, presents a unique investment opportunity. The property boasts a total of 9,312 square feet, with 8,850 square feet currently available for lease. Built in 1982, the building features an impressive 48-foot wide clear span on each of its two floors, offering approximately 4,425 square feet of versatile space per level. High ceilings, reaching 16 feet to the beam, provide ample room for various retail configurations. Natural light floods the second floor thanks to sixteen strategically placed skylights. The property also includes two large drive-in garage bays, enhancing functionality and accessibility. Situated on a substantial 4.767-acre lot in Allegheny County, Pennsylvania, this property benefits from its prime location in one of Pittsburgh's fastest-growing neighborhoods. The building's striking glass façade offers excellent visibility and creates a modern aesthetic. This is a rare opportunity to secure a significant retail space in a highly desirable and dynamic area. The property's size, features, and location make it ideal for a variety of retail uses. The address is 2111 Penn Ave, Pittsburgh, PA 15222.

• CAP approach

  CAP return

  Valuation

  6%

  $906,574

  6.5%

  $836,838

  7%

  $777,064

• Comparable approach

  Method

  Valuation

  Relative Method

  $445,905

  Geo Method

  $445,905

• Alternative Use

  Use

  Valuation

  Residential

  $1,037,679

  Hospitality

  $950,508

  Educational

  $790,812

  Medical

  $818,009

  Retail

  $1,230,152

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4521

Longitude

-79.983

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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