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    5515 Penn Ave Pittsburgh, PA 15206

    Sponsored
    For Sale
    Contact for pricing

    Prime Pittsburgh location, income producing.

    Property size:
    12,790 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 5515 Penn Ave, Pittsburgh, PA 15206, presents a unique owner-user opportunity with existing income streams. The 12,790 square foot building boasts a versatile layout, combining commercial and residential space. The first floor encompasses 6,695 square feet of creative office space, featuring high ceilings, exposed brick, two large offices/conference rooms, and a flexible area easily adaptable for retail or assembly use, separated by a sliding door. Upstairs, the second floor houses three apartments: one 1-bedroom, 1-bathroom unit (1,800 sq ft), and two studio units (1,350 sq ft and 1,325 sq ft). Each space has its own utilities and HVAC system. Adding significant value, the sale includes two vacant lots totaling 0.39 acres (17,017 sq ft) behind the main building, zoned R2-H. The main building is zoned LNC. This central location offers unparalleled convenience, just one block from Whole Foods and the Liberty East Development, and minutes from Bakery Square, UPMC Children's Hospital, and Lawrenceville. Its proximity to Oakland, CMU, and Pitt (2.4 miles) further enhances its appeal. This is an excellent investment opportunity for a discerning buyer seeking a blend of income generation and prime commercial space in a thriving Pittsburgh neighborhood. The property's size, layout, and location make it ideal for a variety of uses.

    Property Features for 5515 Penn Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,790 SF

    Building Details

    Stories
    2
    Units
    5

    HighLights

    • 12,790 SF mixed‑use building in Pittsburgh, PA, offering owner‑user opportunity with existing income.
    • First floor features 6,695 SF of creative office space with high ceilings, exposed brick, and versatile layout.
    • Second floor contains three apartments: one 1BR/1BA (1,800 SF) and two studios (1,350 SF & 1,325 SF).
    • Includes 0.39‑acre vacant lot (17,017 SF) zoned R2‑H.
    • Property is located one block from Whole Foods and Liberty East Development, minutes from Bakery Square and major hospitals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.931977603922
    Latitude
    40.46394631678

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    FAQs

    What type of property is this?
    Multifamily property - Prime Pittsburgh location, income producing.
    Where is this multifamily property located?
    The property is located at 5515 Penn Ave Pittsburgh, PA.
    What are key features of this property?
    This property features: 12,790 SF mixed-use building in Pittsburgh, PA, offering owner-user opportunity with existing income.; First floor features 6,695 SF of creative office space with high ceilings, exposed brick, and versatile layout.; Second floor contains three apartments: one 1BR/1BA (1,800 SF) and two studios (1,350 SF & 1,325 SF).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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
    5515 Penn Ave Pittsburgh, PA 15206
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