Industrial Site with Storage
For Sale
$100,000
587 State Route 8, Oil City, PA 16301
Commercial Sale, Oil City, PA
Property Size864 SF
Lot Size4.97 Acres
Price / SF$115.74
Days on Market128
Property Features for 587 State Route 8
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
1
Rooms
Bathroom 1
Elementary school district
Oil City
Middle school district
Oil City
High school district
Oil City
Subdivision
Venango
Standard status
Active
APN
07,016.-0123..-000
Size
864 SF
Lot size
4.97 Acres
Taxes and HOA fees
Tax Annual Amount
3301
Building Details
Year built
1970
Listing Agency:
Richards & Richards Real Estate LLC
(814) 437-2326
Listed By:
Kristopher Johnson
(814) 229-8769
Added: Apr 24
Changed: Aug 19
Last Checked: Aug 29 at 3:06AM
MLS# 163761
Copyright © 2026 Allegheny Valley Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial property occupies 4.97 acres along State Route 8 in Oil City, Pennsylvania. Improvements include two large roofed storage tanks, one large open-top tank, and two additional smaller tanks. The site also has three small buildings, a railcar unloading manifold, a tank truck loading and unloading area, and a drainage pump. Property size is listed as 864 square feet, with a 1970 year built.
The Commercial-zoned property provides multiple forms of existing tank and transfer infrastructure in a single industrial setting. Its location on State Route 8 and inclusion of both railcar and tank-truck handling components are key physical characteristics of the site.
The Commercial-zoned property provides multiple forms of existing tank and transfer infrastructure in a single industrial setting. Its location on State Route 8 and inclusion of both railcar and tank-truck handling components are key physical characteristics of the site.
Key Highlights
- 4.97‑acre industrial site on State Route 8
- Two large roofed storage tanks plus one large open‑topped tank
- Two additional small storage tanks and three small buildings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,041
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$100,820
$100.8K
Cap Rate 7%
$72,014
$72.0K
Cap Rate 9%
$56,011
$56.0K
Market Conditions
NOI Build-Up for 864 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$7.6K $8.83/SF
− Vacancy
−$427 −$0.49/SF
EGI
$7.2K $8.34/SF
− OpEx
−$2.2K −$2.50/SF
NOI
$5.0K $5.83/SF
Area
Venango County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$100,820
Cap Rate 7%
$72,014
Cap Rate 9%
$56,011
Alternative Uses
Best Use
Industrial
$72.0K
$63.0K – $84.0K
NOI $5,041 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$273.7K
$239.5K – $319.3K
NOI $19,160 @ 7.0% cap · market cap 19.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 16301, PA
14,935
Population
7,648
Households
2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
94.7 sq mi
ZIP Area
158
Density / Sq Mi
$57,368
Median Household Income
$34,371
Median Earnings
$809
Median Rent
$84,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Commercial-zoned acreage features tank storage, support buildings, and loading infrastructure.
Where is this industrial property located?
The property is located at 587 State Route 8 Oil City, PA.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: 4.97‑acre industrial site on State Route 8; Two large roofed storage tanks plus one large open‑topped tank; Two additional small storage tanks and three small buildings
