501 Penn Ave Pittsburgh, PA 15222
- Banks
- 0.47 lot acres
Current Use by Public Records
- Banks
Property Details for 501 Penn Ave
- Lot size
- 0.47 lot acres
- Property type
- Banks
- APN
- 175-S-73
- APU
- 175S73
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,555,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,800,000
- 6.5%
- $1,965,000
- 7%
- $1,830,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,040,000
- Geo Method
- $1,990,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,190,000
- Retail
- $1,890,000
- Mixed-Use
- $1,665,000
- Hospitality
- $1,915,000
- Educational
- $2,045,000
- Residential Income
- $1,890,000
- Energy
- $1,775,000
- Income-Based Land
- $1,780,000
- Food Service
- $1,705,000
Location Insight
- Map
- Local Demand
- City
- Wilkinsburg
- County
- Allegheny
- State
- Pennsylvania
- Longitude
- -79.8868
- Latitude
- 40.4449
- CBSA code
- 38300
- CBSA name
- PITTSBURGH, PA METROPOLITAN STATISTICAL AREA
