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    501 Penn Ave Pittsburgh, PA 15222

    For Lease
    Contact for pricing

    10,000 SF Creative Office, Cultural District

    Lot size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 10,000 square foot creative office space is ideally situated at the entrance to Pittsburgh's vibrant Cultural District. Boasting a prime corner location at the intersection of Penn Avenue and Cecil Place, this single-tenant property offers unparalleled visibility and accessibility. The space features dramatic 21-foot ceilings, creating a unique and inspiring atmosphere perfect for a variety of businesses. Convenient loading access is available via Cecil Place, streamlining operations. This location benefits from a captive audience of approximately 2,500 employees in nearby Fifth Avenue Place and Penn Avenue Place, along with the constant flow of visitors and residents within the Cultural District. The property's strategic position ensures high foot traffic and significant brand exposure. Furthermore, there's a potential for an additional 10,000 square feet of storage space in the lower level, providing ample room for expansion or inventory management. This Allegheny County property presents a rare opportunity to establish a thriving business in a dynamic and highly sought-after location. The property is currently vacant and ready for immediate occupancy.

    Property Features for 501 Penn Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,000 SF

    Unit(s) available at that property

    Space
    Size
    10,000 SF

    HighLights

    • 10,000 SF of unique creative office space in Allegheny County.
    • Located at the gateway to Pittsburgh's Cultural District, on the corner of Penn Avenue and Cecil Place.
    • Features 21' ceilings and easy loading access via Cecil Place.
    • Excellent location near AHN Downtown Medical Center and Highmark Corporate offices.
    • Potential for an additional 10,000 SF of lower‑level storage.
    • High‑traffic area with a captive audience of 2,500+ employees and Cultural District visitors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allegheny Health Network Doctor Highmark Health Insurance Agency Highmark Fitness Center Gym Randolph M Peters, ... Family Practice Physician AHN Downtown Home Health Care Service

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -80.00316728268
    Latitude
    40.442475872413

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    FAQs

    What type of property is this?
    Office space - 10,000 SF Creative Office, Cultural District
    Where is this office space located?
    The property is located at 501 Penn Ave Pittsburgh, PA.
    What are key features of this property?
    This property features: 10,000 SF of unique creative office space in Allegheny County.; Located at the gateway to Pittsburgh's Cultural District, on the corner of Penn Avenue and Cecil Place.; Features 21' ceilings and easy loading access via Cecil Place.
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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
    501 Penn Ave Pittsburgh, PA 15222
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