This exceptional 12,755-square-foot property at 1801 Boulevard of the Allies in Pittsburgh, Pennsylvania, presents a unique investment opportunity. Currently vacant, this Class C building sits on a 0.22-acre lot and offers immense potential for redevelopment. The property's zoning, UPR - B | Residential Core, allows for diverse uses, including creative office, coworking, executive office, medical office, traditional office, multifamily, and redevelopment. Its strategic location in Allegheny County, zip code 15219, places it within walking distance of PPG Paints Arena and the First National Bank Tower, providing easy access to downtown's financial district. Furthermore, the property benefits from its proximity to UPMC's new $500 million Mercy Campus, a 410,000-square-foot facility featuring over 100,000 square feet of research space, poised to significantly impact the surrounding area. This location offers the potential for substantial future growth and value appreciation. The property's versatility allows for various development scenarios, such as converting the existing structure into modern office spaces, coworking suites, student housing, or luxury apartments. The ample land provides opportunities for additional development, including parking facilities. This property is situated in a Qualified Opportunity Zone, offering potential tax advantages for investors. The building is currently entirely vacant, providing a blank canvas for a new owner's vision.
Property Features for 1801 Blvd Of The Allies
General Information
Property type
Multifamily properties
Lease Type
Gross Lease
RSF (Rentable sq. ft)
12,755 SF
Class
C
Unit(s) available at that property
Space
Available Space
Size
12,755 SF
HighLights
12,755 SF vacant Class C building on a 0.22‑acre lot in Pittsburgh's central business district.
Qualified Opportunity Zone property offering significant tax advantages.
Redevelopment opportunity steps from UPMC's new $500 million Mercy Campus.
UPR‑B | Residential Core zoning allows for diverse uses including office, multifamily, and other redevelopment options.
Prime location near PPG Paints Arena and First National Bank Tower.
Multifamily property - 12,755 SF, Multiple Uses, Prime Location
Where is this multifamily property located?
The property is located at 1801 Blvd Of The Allies Pittsburgh, PA.
What are key features of this property?
This property features: 12,755 SF vacant Class C building on a 0.22-acre lot in Pittsburgh's central business district.; Qualified Opportunity Zone property offering significant tax advantages.; Redevelopment opportunity steps from UPMC's new $500 million Mercy Campus.
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1801 Blvd Of The Allies Pittsburgh, PA 15219
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Realmo Value Estimation
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Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
1801 Blvd Of The Allies Pittsburgh, PA 15219
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1801 Blvd Of The Allies, Pittsburgh, PA
Taylor Hardy
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1801 Blvd Of The Allies, Pittsburgh, PA
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1801 Blvd Of The Allies, Pittsburgh, PA
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1801 Blvd Of The Allies, Pittsburgh, PA
Taylor Hardy
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