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2145 Centre Ave 3,600 SF 100% Leased Retail Building Pittsburgh, PA 15219 $650,000 ($180.56/SF) 12.88% Cap Rate
Investment Highlights
- 1 Commercial storefront + 6 Residential Units
- Forecasted Gross income = $110,505 with NOI = $83,743
- Fully renovated building with attractive street presence
- Projected 12.9 CAP Rate!
Executive Summary
SVN | Three Rivers Commercial Advisors is pleased to present for sale 2145 Centre Avenue, a Mixed-Use Investment opportunity consisting of 7 total units. This building is located in the heart of Pittsburgh’s Hill District and consists of (1) ground-floor commercial storefront currently paying $1,500 / month through October 2026, (2) studio units and (4) 1 Bedroom residential units. Owner completed an extensive renovation consisting of all new mechanicals, plumbing, electrical, sprinkler / life safety and HVAC back in 2019. Currently all 6 apartments are vacant and rent ready. There is a vacant o?ce space in the rear of building,as well as as, a large basement for storage and laundry for tenants.
The property is strategically positioned near Downtown Pittsburgh, major transit corridors, universities, hospitals, and ongoing redevelopment initiatives. The Hill District is a historically significant neighborhood experiencing continued gradual reinvestment and redevelopment. Forecasted annual gross income of approximately $110,505 and an estimated NOI of approximately $83,743, creating compelling cash-flow potential with a projected cap rate of 12.9 CAP.
The property is strategically positioned near Downtown Pittsburgh, major transit corridors, universities, hospitals, and ongoing redevelopment initiatives. The Hill District is a historically significant neighborhood experiencing continued gradual reinvestment and redevelopment. Forecasted annual gross income of approximately $110,505 and an estimated NOI of approximately $83,743, creating compelling cash-flow potential with a projected cap rate of 12.9 CAP.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
3,600 SF
Building Class
C
Year Built
1920
Price
$650,000
Price Per SF
$180.56
Cap Rate
12.88%
NOI
$83,743
Percent Leased
100%
Building Height
3 Stories
Building FAR
2.75
Lot Size
0.03 AC
Opportunity Zone
Yes
Frontage
26’ on Centre Ave
Exceptionally walkable
90/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
![[solidcore]](https://images1.loopnet.com/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
Property Taxes
| Parcel Number | 0010-P-00033-0000-00 | Improvements Assessment | $176,900 |
| Land Assessment | $26,100 | Total Assessment | $203,000 |
Property Taxes
Parcel Number
0010-P-00033-0000-00
Land Assessment
$26,100
Improvements Assessment
$176,900
Total Assessment
$203,000
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2145 Centre Ave
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