412-564-3344
332 Fifth Ave, Pittsburgh, PA for Sale
Office - FOR SALE
1/5
null | Request Cap Rate

332 Fifth Ave
Pittsburgh, PA 15222
Market Square


HIGHLIGHTS

  • New ownership has the opportunity to immediately leverage value add initiatives that will enhance market competitiveness and potentially increase NOI
  • 18% of current gross rents are below market value presenting the opportunity to renegotiate to reflect market value and potentially higher income.
  • Historically consistent revenue provides investors financeable cash flow while the property undergoes repositioning
  • Downtown Pittsburgh is the 2nd largest employment center in Pennsylvania and 7 out of 10 region’s largest employers are located within the CBD
  • Investors and potential owner occupiers can purchase an asset below replacement cost allowing for competitive rental rates and higher ROI potential

OVERVIEW

Cushman & Wakefield has been retained as the exclusive listing broker to arrange the sale and leasing of the Warner Centre. Built in 1918 as a major theater and concert hall, the historic Warner Centre presents the opportunity to acquire and reposition a major business hub in the heart of Downtown Pittsburgh, a vital part of Pittsburgh’s economy and primary location for many major corporations and financial institutions. Downtown Pittsburgh is also home to Pittsburgh’s Cultural District, featuring theaters, concert venues, restaurants and galleries. The property is a mixed-use building featuring 6-stories of office space, interior retail, and street level retail. 13,500 SF can potentially be subdivided and sold as an independent building. A significant standout feature is a 6-story glass atrium, flooding the main common areas with natural light. Tenants benefit from nearby amenities including restaurants, shopping, parking, and public transportation. The 122,928 SF mixed-use building offers significant upside for new ownership to fill vacancies and increase income potential. Current tenancy provides immediate cash flow and a steady revenue stream. Recent investments include elevator equipment upgrades, façade improvements, and fully renovated tenant spaces. The Warner Centre’s location and potential growth presents owner occupiers and investors the opportunity to purchase an attractive asset below replacement cost.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Warner Centre

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

6

BUILDING CLASS

B

YEAR BUILT

1918

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

GT-A

APN/PARCEL ID

0001-H-00264-0000-00

ASK ABOUT THIS PROPERTY

Adarryl DreherCushman & WakefieldMore Info
412-564-3344

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Adarryl DreherCushman & WakefieldMore Info
412-564-3344

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.