3220 Penn Ave Pittsburgh, PA 15201-1423
This exceptional 24,000-square-foot flex industrial building presents a compelling investment opportunity in Pittsburgh's vibrant Strip District. Situated on a 0.84-acre lot, the property boasts a prime location, offering convenient access to numerous amenities. Currently 100% occupied by three tenants, this presents a strong, stable cash flow for investors. The building features three drive-in doors and ample parking with 28 spaces. Its RIV-IMU zoning allows for a variety of uses, and the substantial lot size presents potential for future vertical construction. The property's strategic location provides easy access to major transportation arteries, including a 1.9-mile proximity to the central business district (CBD), and within 2.1 miles of Route 28, I-376, and I-579. This turnkey investment is ideal for those seeking immediate income generation and long-term appreciation potential in a rapidly developing area. The property is offered as a triple net (NNN) lease, with the existing tenants providing a consistent revenue stream. This is a rare opportunity to acquire a well-located, fully occupied industrial property in one of Pittsburgh's most dynamic neighborhoods. The potential for future development adds significant value to this already attractive investment. Don't miss this chance to own a piece of the Strip District's thriving commercial landscape.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.