102-year-old former bank building on market in Verona

In the market for a building with serious pillar presence?

A former bank in downtown Verona that towers above its neighboring buildings along Allegheny River Boulevard is listed for sale at $424,900.

The property was previously a PNC bank and most recently the Verona Variety Store. It originally listed for $875,000 in 2019 but was taken off the market during the pandemic.

The building was listed again this March at its current lower price.

Keller Williams Exclusive Shadyside listing agent Susan Pittman said she’s fielded a good bit of interest about the building.

“People love the structure, the colors, the entrance and vault. It’s such a beautiful building,” she said.

The building dates back to 1920 and is constructed of concrete and brick.

Frank Santucci of Verona is a member of the Verona Historical Society.

Santucci, 87, noted the bank was originally called Allegheny Trust Company.

“There was a robbery during the 1940s, and a teller was shot and killed, and the suspect got away,” he said.

He grew up frequenting the bank because his parents were customers.

“I recalled it being a grand building with a very high ceiling, a chandelier and the vault. It was always pristine and clean. It was the biggest building in town,” Santucci said.

Joyce Hanz | Tribune-Review

A former bank building is for sale in Verona.

Pittman said the property has great potential as a cafe, craft brewery, restaurant or entertainment venue.

We’ve had some serious interest from someone that wants to put a microbrewery in there. No agreement just yet,” Pittman said.

Formerly the Verona Variety Store, the two-story structure includes the original bank vault.

Pittman said the owner, Dia Zhong Ming, is selling to relocate closer to family.

A drive-thru area remains in the parking lot and has 12 spaces.

The 11,500-square-foot, commercially zoned property is in an opportunity zone, where certain investments may qualify for preferential tax treatment.

Inside the building, the original vault remains.

“It’s huge. An entire room with safe deposit boxes. It’s very impressive,” Pittman said.

For Pittman, it’s her first time listing a historic former bank. She said a lot of potential buyers talk about the restoration possibilities.

The annual taxes are $21,701, according to Allegheny County online records.

A new owner could lease out the bank ATM attached to the front of the building to provide additional monthly cash flow.

The existing stain glass windows have been painted over.

“There needs to be some restorations in there, but the atmosphere in there is lovely,” Pittman said. “People want to come in and bring back the historical part, and it costs money to do that.”