187 36th Street

Colliers is pleased to present 187 36th Street, a fully leased, ±19,400 SF industrial building in Pittsburgh’s Lower Lawrenceville neighborhood. Offered for sale for the first time at $2,800,000, the property is leased to MG Development America, Inc. on a triple-net (NNN) basis through February 2029 and generates $218,295 in annual base rent, representing a 7.80% in-place cap rate.

Property Overview:

Built in 2000, 187 36th Street is a single-story, ±19,400 SF industrial building on approximately 0.72 acres in Pittsburgh’s Lower Lawrenceville neighborhood. The building includes approximately 14,540 SF of warehouse space and 4,860 SF of office space, allowing a single user to house its administrative and industrial operations under one roof.

The warehouse features 32′ clear height and two exterior loading docks with levelers. The site also provides 12 surface parking spaces. MG Development America, Inc. has occupied the entire building since March 2021 and uses the property for medical device design, manufacturing, and distribution.

Location & Access:

187 36th Street is located in Pittsburgh’s Lower Lawrenceville neighborhood, near the Strip District and Downtown. Butler Street and Penn Avenue connect the property to nearby business districts and neighborhoods, while the 40th Street Bridge provides a connection to PA Route 28 across the Allegheny River. The location offers convenient access for employees, deliveries, and distribution throughout the Pittsburgh area.

Investment Opportunity:

Offered for sale for the first time at $2,800,000, 187 36th Street gives investors the opportunity to acquire a fully leased industrial property in Pittsburgh’s Lower Lawrenceville neighborhood. The property generates $218,295 in annual base rent and is offered at a 7.80% in-place cap rate. Under the triple-net lease, MG Development America, Inc. pays real estate taxes, insurance, utilities, and repairs and replacements, including roof and HVAC.

MG Development America has occupied the entire building since March 2021 and exercised its first renewal option, extending the lease through February 28, 2029. One three-year renewal option remains, with a 5% rent increase if exercised. The building’s 32′ clear height, two exterior loading docks with levelers, and mix of warehouse and office space can accommodate a range of industrial users over the long term.

Available