Long-Term Leased Investment
11200 Perry Hwy Meadville, PA
For Sale
Contact for pricing
Property leased to United States Veterans Affairs with long term lease.
Property Size14,005 SF
Lot Size1.48 Acres
Price / SF$333.74
Days on Market372
Property Features for 11200 Perry Hwy
General Information
Standard status
Active
Size
14,005 SF
Lot size
1.48 Acres
Property subtype
OFFICE
Listing Agency:
Passov Real Estate Group
(216) 453-3082
Listed By:
Dan Lariccia
(216) 453-3082
Source:
Moodyscre
Added: Jul 23, 2025
Changed: Jul 6
Last Checked: Jul 21 at 8:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Passov Real Estate Group
Investment Insights
Based on property information with market context.
This property, comprising 14,005 square feet on 2.5 acres, is subject to a long-term lease with the United States Veterans Affairs. The lease commenced on May 1, 2024, and features a firm term of ten years, followed by a soft term of ten years. The Veterans Affairs contributed $2,553,024 towards interior tenant improvements. The lease agreement includes rental increases of $1.50 per square foot every five years. The property is located at 11200 Perry Hwy, Meadville, PA.
Key Highlights
- United States Veterans Affairs Long Term Lease
- One of the Highest Credit Rated Tenants in the World
- No Early Termination Options
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $316.0k | $22.56 |
| − Vacancy | −$69.5k | −$4.96 |
| EGI | $246.4k | $17.60 |
| − OpEx | −$61.6k | −$4.40 |
| NOI | $184.8k | $13.20 |
14,005 SF · lease $22.56/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,832 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $243,216 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Property leased to United States Veterans Affairs with long term lease.
Where is this office building located?
The property is located at 11200 Perry Hwy Meadville, PA.
What is the asking price?
The asking price for this property is $4,674,000.
What are key features of this property?
This property features: United States Veterans Affairs Long Term Lease; One of the Highest Credit Rated Tenants in the World; No Early Termination Options
