633 Smithfield StPittsburgh, PA 15222

  • Retail properties
  • 0.06 AC
For Sale
$599,000 View listing

Property Details for 633 Smithfield St

Lot size
0.06 AC
Property type
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
633 Smithfield St, Pittsburgh, Pennsylvania

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$3,295
$103,000
$40,000
$143,000
-
$103,000
$40,000
$143,000

FAQs

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