1127 Wayne AveMcKees Rocks, PA 15136

  • Office properties
  • 4.91 AC
For Sale
$1,450,000 View listing

Property Details for 1127 Wayne Ave

Lot size
4.91 AC
Property type
Office properties
Property subtype
Office buildings
APN
72-M-230
APU
72M230

Description

This exceptional 63,000 square foot mixed-use property, situated on a 4.9-acre lot in McKees Rocks, Pennsylvania, presents a unique redevelopment opportunity. Originally constructed in 1927 and extensively renovated between 2019 and 2022 (with over $700,000 invested), this former high school boasts a two-story, single-building structure with 60,000 square feet of net rentable space. Currently operating at 100% occupancy as of February 10, 2024, the property offers significant potential for various uses, including senior living, a community center, or conversion into apartments. Its versatile zoning allows for a wide range of possibilities. The property features ample off-street parking and benefits from its location within an Opportunity Zone, providing attractive tax advantages for investors. Significant renovations include the installation of over 2,500 glass block windows, removal of ceiling panels and plaster in the auditorium, and a silicone sealant roof coating (applied twice). The property enjoys a spectacular view of the Pittsburgh skyline and unique terraced grounds. Property taxes were waived. APN: 0072-M-00230, 0072-M-00290. Asking price: $1,450,000 ($23.02/sq ft). This is a rare chance to acquire a substantial property in a mature neighborhood with high demand for new housing and limited undeveloped land.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $40,641,804
    6.5%
    $37,515,512
    7%
    $34,835,832
  • Comparable approach

    Method
    Valuation
    Relative Method
    $19,989,966
    Geo Method
    $19,989,966
  • Alternative Use

    Use
    Valuation
    Residential
    $46,519,232
    Hospitality
    $42,611,368
    Educational
    $35,452,156
    Medical
    $36,671,412
    Retail
    $55,147,800
1127 Wayne Ave, McKees Rocks, Pennsylvania

Location Insight

City
Mc Kees Rocks
County
Allegheny
State
Pennsylvania
Latitude
40.4659
Longitude
-80.0707
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
$350
$2,000
$6,300
$8,300
-
$2,000
$6,300
$8,300

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