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    1505 N Hermitage Rd Hermitage, PA 16148

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    For Sale
    $4,999,000

    New build-to-suit outpatient center leased to Veterans Affairs.

    Property size:
    14,907 SF
    Lot size:
    2.17 Acres

    Property Features for 1505 N Hermitage Rd

    General Information

    Size
    14,907 SF
    Lot size
    2.17 Acres

    Source: Passov Real Estate Group Agent Dan Lariccia

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Veterans Affairs Outpatient Center

    This is a brand new build-to-suit outpatient center for the United States Veterans Affairs, with no early termination options. The anticipated lease commencement date is September 1, 2025. The lease term is ten years firm, with a soft five-year extension. The building encompasses 14,907 square feet and is situated on a 2.768-acre lot. The Veterans Affairs contribution to interior tenant improvements is $2,946,700. Rental increases are set at $1.50 per square foot in years 6 and 11.
    Location Intelligence

    Current Use by Public Records

    Knott's Interiors & Flooring Flooring Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Whispering Pines Veterinary Services - Hermitage, Fette Veterinary Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Hermitage
    County
    Mercer
    State
    Pennsylvania
    Longitude
    -80.4523433
    Latitude
    41.2540733

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    FAQs

    What type of property is this?
    Medical office - New build-to-suit outpatient center leased to Veterans Affairs.
    Where is this medical office located?
    The property is located at 1505 N Hermitage Rd Hermitage, PA.
    What is the asking price?
    The asking price for this property is $4,999,000.
    What are key features of this property?
    This property features: - Leased to United States Veterans Affairs; - Brand new build-to-suit property; - 10-year firm lease term
    (216) 453-3082
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    1505 N Hermitage Rd Hermitage, PA 16148
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1505 N Hermitage Rd Hermitage, PA 16148
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