Building Details

Year built 2001

Building materials Steel

Listing Agency: REALTY ONE GROUP LANDMARK l***@gmail.com

Listed By: Bonnie Bartholow · License #RS227597L Show Phone

Added: Aug 21 Changed: Sep 11 Last Checked: Sep 11 at 5:06PM

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MLS# 1770952

Copyright © 2026 West Penn Multi List, Inc. 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 flex property includes a 3,600-square-foot steel building on 3.541 acres. Constructed in 2001, the 60-by-60-foot building has a 24-foot ceiling, two 14-by-14-foot garage doors, two man doors, a loading dock, overhead storage with pull-down stairs, and multiple interior rooms with a restroom. A 200-amp electrical panel, public water, natural gas service, Ring Doorbell system, and Night Owl CCTV camera system are also included.

The property fronts Route 22, where reported traffic volume ranges from 15,000 to 20,000 vehicles per day. The building was formerly used as a fire truck repair shop and includes a 42" box trailer with shelving for additional storage. Its physical features support a range of commercial and industrial applications, subject to applicable approvals.

Key Highlights

• 3.541‑acre property along Route 22
• 3,600‑square‑foot steel building constructed in 2001
• 24‑foot ceiling with two 14‑by‑14‑foot garage doors

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

$40,597

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

4.78%

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%

$811,940 $811.9K

Cap Rate 7%

$579,957 $580.0K

Cap Rate 9%

$451,078 $451.1K

Market Conditions

NOI Build-Up for 3,600 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

$64.8K $18.00/SF

− Vacancy

−$6.8K −$1.89/SF

EGI

$58.0K $16.11/SF

− OpEx

−$17.4K −$4.83/SF

NOI

$40.6K $11.28/SF

Area

Indiana County, PA

Vacancy

10.50%

Lease Rate

$18.00 /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%

$811,940

Cap Rate 7%

$579,957

Cap Rate 9%

$451,078

Alternative Uses

Best Use

Retail

$580.0K

$507.5K – $676.6K (±1% cap)

NOI $40,597 @ 7.0% cap · market cap 4.78%

Second Best

Flex RnD

$359.7K

$314.8K – $419.7K (±1% cap)

NOI $25,182 @ 7.0% cap · market cap 2.96%

Theoretical Best

Office A

$1.14M

$997.9K – $1.33M (±1% cap)

NOI $79,834 @ 7.0% cap · market cap 9.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Fortunato's Service/Repair General Contractor

Suggested Use

Top Pick Auto Parts Store Garden Center Building Supply Auto Repair Shop Computer & Electronic Repair Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24 ft

Clear height

1

Dock-high doors

2

Drive-in doors

20,000 VPD

Traffic count

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 15717, PA

9,454

Population

4,773

Households

2

Avg Household Size

49

Median Age

20%

College-Educated

93%

High-School Grad

94.0 sq mi

ZIP Area

101

Density / Sq Mi

$63,544

Median Household Income

$40,210

Median Earnings

$685

Median Rent

$154,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Steel construction with overhead storage, loading access, and public water service.

Where is this flex space located?

The property is located at 114 Fortunato Lane Blairsville, PA.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 3.541‑acre property along Route 22; 3,600‑square‑foot steel building constructed in 2001; 24‑foot ceiling with two 14‑by‑14‑foot garage doors