The American Wholesale Building | 37,500 SF Mixed-Use Investment Opportunity

Investment Overview

Mixed-use investment opportunity featuring strong in-place income, significant capital improvements, and adaptive reuse potential. Originally constructed in 1903, The American Wholesale Building has stood as part of the foundation of Pittsburgh’s historic Strip District for more than a century. Today, the American Wholesale Building presents a rare opportunity to acquire one of the Strip District’s most recognizable assets and continue its legacy for generations to come. With a prime Strip District location, 2124 Penn Ave is positioned in the center of Pittsburgh’s rapidly transforming Strip District, one of the region’s premier live-work-play destinations. Exceptional Building Condition Ownership has made a significant investment, with recent capital improvements including: Building Systems • New roof installed in 2025, with a 10-year warranty • New passenger elevator • Upgraded fire protection system • Full-building sprinkler system Security Infrastructure • Video surveillance • Floor-by-floor security system Highly Functional Interior Improvements • Twenty-one (21) private restrooms distributed throughout the building • Kitchenettes incorporated within office suites • Flexible office configurations suitable for a variety of tenant and owner-user needs • Attractive interior finishes throughout the Property • Move-in-ready office spaces requiring limited additional investment Potential future uses include: • Multifamily (Potential for approximately 40-45 residential units subject to zoning, architectural review, and municipal reviews) • Boutique hospitality • Mixed-use residential • Creative office • Live/Work concepts 2124 Penn Avenue offers investors immediate cash flow from a diversified mix of office and retail tenants while providing significant upside through the lease-up of existing vacancy and future redevelopment potential.

Investment Highlights

• Legacy asset with a prime Strip District location - neighborhood experiencing continued population growth, redevelopment, and long-term investment
• Surrounded by significant residential, office, retail, hospitality, and technology investment
• Significant capital improvements & exceptional building condition
• Strong in-place income with future upside
• Adaptive reuse & multifamily conversion potential