633 Smithfield StPittsburgh, PA 15222

Property Details for 633 Smithfield St

Lot size

0.06 AC

Property type

Turn key restaurants

APN

2-A-47

APU

2A47

Description

This exceptional six-story, 7,200-square-foot mixed-use building presents a unique investment opportunity in the heart of Pittsburgh, Pennsylvania. Located at 633 Smithfield Street, this Class C property offers a versatile open floor plan ideal for various commercial uses, including office space, retail, and residential condos. The building's C1 zoning allows for flexible development, maximizing its potential. With 7,000 square feet of net rentable space, the property boasts a desirable price per square foot of $83.19. The building's prime location on Smithfield Street provides excellent visibility and accessibility, benefiting from high foot traffic and proximity to public transportation. The vacant building is ready for immediate development, allowing for customization to suit specific business needs. Potential uses include a street-level restaurant, capitalizing on the area's bustling atmosphere. The property's multiple floors offer opportunities for mixed-use development, catering to diverse tenants or residents. Upper floors may offer scenic city views, enhancing the appeal of office or residential spaces. This investment presents a chance to capitalize on Pittsburgh's ongoing downtown revitalization and the strong demand for modern commercial spaces. The building is available for occupancy on May 1, 2024. This is an investor-ready property with significant potential for long-term value appreciation. The building consists of one unit within one building.

• CAP approach

  CAP return

  Valuation

  6%

  $670,945

  6.5%

  $619,334

  7%

  $575,096

• Comparable approach

  Method

  Valuation

  Relative Method

  $565,730

  Geo Method

  $565,730

• Alternative Use

  Use

  Valuation

  Residential

  $522,431

  Hospitality

  $478,544

  Educational

  $398,143

  Medical

  $411,836

  Retail

  $619,334

Location Insight

City

Pittsburgh

County

Allegheny

State

Pennsylvania

Latitude

40.4424

Longitude

-79.9973

CBSA code

38300

CBSA name

PITTSBURGH, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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