Matthews Logo

Navigation Menu

2950 Penn Ave, Pittsburgh, PA, 15201

City Collision
$4,091,468

Key Information

Cap Rate
7.5%
$ per SF
$461
Term Remaining
±6.25 Yrs
Type
Retail
NOI
$306,860
Leasable Area
9,600

Highlights

  • Investment-Grade Tenant – CollisionRight acquired City Collision in 2021 and executed a 10-year lease with two (2) five-year extension options.
  • Attractive Rent Increases – Lease includes 2.5% annual rent escalations, providing predictable long-term income growth.
  • Limited Landlord Responsibilities – Structured as NN+, with landlord responsibility limited to roof and structure, making it an ideal passive, out-of-state investment.
  • High-Visibility Location – Strategically positioned in the heart of Downtown Pittsburgh with strong daily traffic exposure.
  • High-Growth Trade Area – The surrounding 5-mile radius exceeds 350,000 residents, with double-digit population growth within a 1-mile radius.
  • Significant Nearby Development – Over 520 new residential units announced in August 2025 within a half-mile of the property, further strengthening local demand.
  • Rapidly Expanding Tenant – Backed by private equity, CollisionRight is one of the fastest-growing MSOs in the U.S., operating 100+ locations with continued regional expansion.
  • Urban Infill Advantage – Dense traffic patterns and complex intersections drive higher accident frequency and consistent insurance-directed repair demand. Limited zoning, high land costs, and scarce industrial parcels create durable barriers to entry.
  • Purpose-Built Collision Facility – Specialized build-out includes full paint system, structural repair, and advanced calibration capabilities. High replacement cost and technical requirements enhance tenant stickiness and reduce functional obsolescence.
  • Embedded Residential Growth – Over 520 new residential units delivered nearby, increasing vehicle density and supporting sustained collision repair demand within the immediate trade area.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # RB068831 (PA)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203