Flex Space with Roll-Up
For Sale
Contact for pricing
2800 Penn Ave, Pittsburgh, PA 15222
Flex space on a 0.33-acre parcel with RIV-IMU zoning and existing parking, featuring warehouse and retail/office areas.
Property Size20,000 SF
Lot Size0.33 Acres
Price / SF$110
Days on Market582
Property Features for 2800 Penn Ave
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
14
Lot size
0.33 Acres
Property subtype
INDUSTRIAL
Zoning
RIV-IMU
Site & Location
Neighborhood
Strip District
Warehouse & Industrial
Warehouse Space
17,000 SF
Office Build-Out
3,000 SF
Building Details
Buildings
1
Stories
2
Building Size
20,000 SF
Tenancy
Single
Listing Agency:
SVN | Three Rivers Commercial Advisors
(412) 535-8050
Listed By:
Nathan Pazsint · License ##RS339099
(412) 352-8754
Source:
Moodyscre
Added: Mar 28, 2025
Changed: Oct 25
Last Checked: Oct 28 at 11:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Three Rivers Commercial Advisors
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Investment Insights
Based on property information with market context.
Flex space on a 0.33-acre parcel with existing parking. The property includes a 20,000 SF, two-level warehouse configuration with a retail showroom and office space.
On the ground level, there is 3,000 SF of retail/office and 7,000 SF of heated warehouse space, featuring a 12’ x 20’ rollup and a receiving dock. The second floor includes 10,000 SF of heated warehouse space.
RIV-IMU zoning provides flexibility for redevelopment, including multi-unit residential, grocery, hotel, retail, and dispensary use, while the current setup may also support a commercial flex use with parking already in place. A tenant has been in the space since 1951, with the space scheduled to be vacated by December 31, 2025.
On the ground level, there is 3,000 SF of retail/office and 7,000 SF of heated warehouse space, featuring a 12’ x 20’ rollup and a receiving dock. The second floor includes 10,000 SF of heated warehouse space.
RIV-IMU zoning provides flexibility for redevelopment, including multi-unit residential, grocery, hotel, retail, and dispensary use, while the current setup may also support a commercial flex use with parking already in place. A tenant has been in the space since 1951, with the space scheduled to be vacated by December 31, 2025.
Key Highlights
- 0.33‑acre parcel with 20,000 SF, two‑level flex/warehouse space
- Ground level includes 3,000 SF retail/office and 7,000 SF heated warehouse
- 12’ x 20’ rollup plus receiving dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,163
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,743,260
$2.7M
Cap Rate 7%
$1,959,471
$2.0M
Cap Rate 9%
$1,524,033
$1.5M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$170.4K $8.52/SF
− Vacancy
−$9.0K −$0.45/SF
EGI
$161.4K $8.07/SF
− OpEx
−$24.2K −$1.21/SF
NOI
$137.2K $6.86/SF
Area
Pittsburgh, PA
Vacancy
5.30%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,743,260
Cap Rate 7%
$1,959,471
Cap Rate 9%
$1,524,033
Alternative Uses
Best Use
Retail
$3.33M
$2.91M – $3.89M
NOI $233,100 @ 7.0% cap · market cap 10.60%
Second Best
Warehouse
$1.96M
$1.71M – $2.29M
NOI $137,163 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,870 @ 7.0% cap · market cap 20.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,548
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 15222, PA
5,976
Population
4,008
Households
1.5
Avg Household Size
33
Median Age
77%
College-Educated
99%
High-School Grad
0.9 sq mi
ZIP Area
6,640
Density / Sq Mi
$111,926
Median Household Income
$61,190
Median Earnings
$1,963
Median Rent
$557,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Pittsburgh, PA
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space on a 0.33-acre parcel with RIV-IMU zoning and existing parking, featuring warehouse and retail/office areas.
Where is this flex space located?
The property is located at 2800 Penn Ave Pittsburgh, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 0.33‑acre parcel with 20,000 SF, two‑level flex/warehouse space; Ground level includes 3,000 SF retail/office and 7,000 SF heated warehouse; 12’ x 20’ rollup plus receiving dock
