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Alli-Kiski Professional Building 701 Fourth Ave 6,555 SF Vacant Office Building New Kensington, PA 15068 $275,000 ($41.95/SF) 13.91% Cap Rate
Investment Highlights
- Great corner location and 7th and 4th Ave.
- Located in downtown corridor with redevelopment momentum.
- Immediate Cash Flow: Existing tenant lease on the second floor
- Nearby area supports offices, social service agencies, medical clinics, law firms.
Executive Summary
The property, built in 1986, is a two-story office building featuring an elevator and totaling approximately 6,555 square feet. It is prominently located at the intersection of 4th Avenue and 7th Street in Downtown New Kensington and is zoned C3, designated as “Downtown Commercial,” allowing for flexible business uses. The building includes assigned parking at the rear and currently offers a mix of occupancy, with the top floor leased at $38,250 annually and the first floor vacant, presenting an opportunity for additional income. Conveniently positioned near Route 28, the property is just twenty minutes from Pittsburgh and ten minutes from the Pennsylvania Turnpike. Additionally, it lies within a Federal Opportunity Zone, providing potential tax incentives extended under the 2025 tax act.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
6,555 SF
Building Class
C
Year Built/Renovated
1987/1999
Price
$275,000
Price Per SF
$41.95
Cap Rate
13.91%
NOI
$38,250
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,277 SF
Building FAR
0.63
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
C3 - Downtown Commercial.
Parking
500 Spaces (10 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Greenbriar
- -
-
99,999 SF
-
$9.99
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Greenbriar | - | 99,999 SF | $9.99 | - |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
A first floor office opportunity in a two story brick building offering flexible space with GFA heating, central air, and 200 AMP electrical service. The suite includes six months free rent for renovations and is offered at $11/SF + utilities, ideal for customized professional use.
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 3,277 SF | Office | Partial Build-Out | Now |
1st Floor
| Size |
| 3,277 SF |
| Space Use |
| Office |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
1st Floor
| Size | 3,277 SF |
| Space Use | Office |
| Build-Out | Partial Build-Out |
| Available | Now |
A first floor office opportunity in a two story brick building offering flexible space with GFA heating, central air, and 200 AMP electrical service. The suite includes six months free rent for renovations and is offered at $11/SF + utilities, ideal for customized professional use.
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 24-03-15-0-513 | Improvements Assessment | $123,240 |
| Land Assessment | $15,090 | Total Assessment | $138,330 |
Property Taxes
Parcel Number
24-03-15-0-513
Land Assessment
$15,090
Improvements Assessment
$123,240
Total Assessment
$138,330
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Alli-Kiski Professional Building | 701 Fourth Ave
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