1737 E Carson St
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1737 E Carson St
4,765 SF 100% Leased Office Building Pittsburgh, PA 15203 $849,000 ($178/SF) 4.67% Cap Rate
Investment Highlights
- 4 Story "Second Empire" Victorian style building
- Many renovations and original charm and character preserved
- Central business district location
Executive Summary
The ground level coffee shop has a renewed lease through 12/31/2029. Two office spaces are currently vacant on the 2nd floor which are now zoned as office space but could be potentially 2 efficiency apartments, Air BNB rentals or communal office space. The 3rd floor is rented as a residential apartment through 12/31/2024 with a lease. The 4th floor is a shell which has previously been targeted as a loft style 5th unit apartment with rooftop access planned as exterior living space.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$57,600
|
$12.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$57,600
|
$12.09
|
| Taxes |
$5,187
|
$1.09
|
| Operating Expenses |
$12,781
|
$2.68
|
| Total Expenses |
$17,968
|
$3.77
|
| Net Operating Income |
$39,632
|
$8.32
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $57,600 |
| Annual Per SF | $12.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $57,600 |
| Annual Per SF | $12.09 |
| Taxes | |
|---|---|
| Annual | $5,187 |
| Annual Per SF | $1.09 |
| Operating Expenses | |
|---|---|
| Annual | $12,781 |
| Annual Per SF | $2.68 |
| Total Expenses | |
|---|---|
| Annual | $17,968 |
| Annual Per SF | $3.77 |
| Net Operating Income | |
|---|---|
| Annual | $39,632 |
| Annual Per SF | $8.32 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
4,765 SF
Building Class
B
Year Built
1873
Price
$849,000
Price Per SF
$178
Cap Rate
4.67%
NOI
$39,632
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
1,191 SF
Building FAR
3.65
Lot Size
0.03 AC
Zoning
Commercial - The building is zoned for retail on 1st floor with offices on 2nd floor and 3rd floor residential.
Amenities
- Bus Line
- Basement
- Hardwood Floors
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Delanie's Coffee Shop
- Accommodation and Food Services
- 1,496 SF
- $28.07
- Plus All Utilities
- Dec 2029
- Hill
- -
- 917 SF
- $17.00
- Plus Electric
- Dec 2024
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Delanie's Coffee Shop | Accommodation and Food Services | 1,496 SF | $28.07 | Plus All Utilities | Dec 2029 | |
| Hill | - | 917 SF | $17.00 | Plus Electric | Dec 2024 |
Walk Score ®
Walker's Paradise (96)
Bike Score ®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 0012-E-00318-0001-00 | Total Assessment | $222,500 |
| Land Assessment | $74,400 | Annual Taxes | $5,187 ($1.09/SF) |
| Improvements Assessment | $148,100 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
0012-E-00318-0001-00
Land Assessment
$74,400
Improvements Assessment
$148,100
Total Assessment
$222,500
Annual Taxes
$5,187 ($1.09/SF)
Tax Year
2024
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1737 E Carson St
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