1703 E Carson St
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1703 E Carson St
6,106 SF 100% Leased Retail Building Pittsburgh, PA 15203 £621,163 (£102/SF) 9.75% Net Initial Yield
Investment Highlights
- Heavy daytime foot traffic
- Open plan exposed brick
- Lots of natural light
- Mixed use
Executive Summary
Discover a prime investment opportunity at 1703 E Carson St, a mixed-use building in the heart of Pittsburgh's vibrant Southside neighborhood. This 6,100 sq ft main property was renovated in 2019 and boasts a dynamic blend of street retail and residential units, ensuring diverse income streams and strong potential for long-term appreciation.
The first floor features a fully equipped kitchen and restaurant space, perfectly positioned to capitalize on the heavy foot and vehicle traffic along bustling E Carson Street. Above, three fully leased residential units provide immediate cash flow, offering a seamless transition for new ownership. Additionally, a remodeled single-family home is located behind the main building.
Currently generating a Net Operating Income (NOI) of $75,801 with a 7.22% capitalization rate, 1703 E Carson St stands out as a lucrative investment in a sought-after commercial area. The property’s strategic location, surrounded by a myriad of shops, bars, and restaurants, ensures constant demand and robust rental potential.
The first floor features a fully equipped kitchen and restaurant space, perfectly positioned to capitalize on the heavy foot and vehicle traffic along bustling E Carson Street. Above, three fully leased residential units provide immediate cash flow, offering a seamless transition for new ownership. Additionally, a remodeled single-family home is located behind the main building.
Currently generating a Net Operating Income (NOI) of $75,801 with a 7.22% capitalization rate, 1703 E Carson St stands out as a lucrative investment in a sought-after commercial area. The property’s strategic location, surrounded by a myriad of shops, bars, and restaurants, ensures constant demand and robust rental potential.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
6,106 SF
Building Class
C
Year Built/Renovated
1900/2019
Price
£621,163
Price Per SF
£102
Net Initial Yield
9.75%
NOI
£60,593
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
2.00
Lot Size
0.07 AC
Zoning
Commercial - Retail/Apartments Over
Parking
2 Spaces (0.33 Spaces per 1,000 SF Leased)
Frontage
17 ft on E Carson St
Amenities
- Bus Route
Walk Score ®
Walker's Paradise (95)
Bike Score ®
Biker's Paradise (98)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0012-E-00304-0000-00 | Total Assessment | £232,435 (2024) |
| Land Assessment | £100,188 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £132,248 (2024) | Tax Year | 2023 Payable 2023 |
PROPERTY TAXES
Parcel Number
0012-E-00304-0000-00
Land Assessment
£100,188 (2024)
Improvements Assessment
£132,248 (2024)
Total Assessment
£232,435 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023 Payable 2023
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1703 E Carson St
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