5608 Wilkins AvePittsburgh, PA 15217

For Sale
$4,400,000

Class A, 100% Occupied, Stabilized Investment

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional Class A medical office building, located at 5608 Wilkins Avenue in Pittsburgh, Pennsylvania's Squirrel Hill neighborhood, presents a rare investment opportunity. The property boasts 14,400 square feet of net rentable space, distributed across two stories within a single building. Currently operating at 100% occupancy with four corporate-guaranteed tenants, this stabilized investment offers a strong and consistent income stream. The building features ample parking, a significant advantage in this desirable location. The asking price is $4,400,000, representing a price per square foot of $305.56 and a compelling 5.95% cap rate, based on a Net Operating Income (NOI) of $262,000. The property is zoned for commercial use and benefits from excellent demographics and a prime location. The gross lease structure simplifies management, and the long-term tenants provide stability and predictability for future cash flow. This well-maintained property represents a secure and lucrative investment opportunity in a thriving Pittsburgh market. The property's 100% occupancy and strong tenant base ensure immediate returns, making it an attractive option for discerning investors seeking a stable, high-performing asset. The building's prime location and excellent condition further enhance its value and potential for long-term growth.

Highlights

  • Rare investment opportunity in Pittsburgh's Squirrel Hill.
  • Class A medical office building with 14,400 square feet of net rentable space.
  • 100% occupied with four corporate-guaranteed tenants providing a stable income stream.
  • $4,400,000 asking price, $305.56/SF, 5.95% cap rate, and ample parking.
  • Well-maintained property in a prime location with excellent demographics.

Property Details for 5608 Wilkins Ave

Property type
Other office properties, Medical offices
Square Feet
14,400 SF
Class
A
Buildings
1
Stories
2

Location Insight

City
Pittsburgh
County
Allegheny
State
Pennsylvania
Latitude
40.443832
Longitude
-79.9272063
5608 Wilkins Ave, Pittsburgh, Pennsylvania

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5608 Wilkins Ave
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