Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    New Castle, PA 16105

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Well-maintained, vacant office building with ample parking near Pittsburgh.

    We can help!

    Listing Contact
    Martin Perry
    Source: Nmrk

    Listing Agent: Martin Perry

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

    Learn more

    Overview

    Multistory Office Building with Parking

    This multistory, Class B office building offers approximately 80,000 square feet of space on a plot of land spanning over 8 acres. The vacant and well-maintained property, formerly occupied by Liberty Mutual Insurance, features approximately 600 parking spaces and includes two loading docks and elevator service. The property is situated in New Castle, Pennsylvania, Lawrence County, approximately 45 miles northwest of Pittsburgh and 20 miles east of Youngstown, Ohio. The surrounding area within a 5-mile radius has a population of approximately 21,000 with 9,700 households and a median household income of $45,125. Wilmington Road experiences a daily traffic volume of over 22,000 vehicles.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    New Castle
    County
    Lawrence
    State
    Pennsylvania
    Longitude
    -80.3373
    Latitude
    41.0521

    Nearby Similar for Sale

    • $269,900
      0.41 Acres

      Historic Office Building in New Castle

      Iconic 23,000+ SF commercial building with original architectural details.
      27 N Mercer St, New Castle, PA 16101
      View Details
    • New
      $875,000
      7,000 SF

      Neshannock Township Office For Sale

      Two-story office building in Neshannock Township, near Jameson Hospital.
      3135 Wilmington Rd, New Castle, PA 16105
      View Details
    • $895,000
      0.29 Acres

      Turnkey Beer Distributor Opportunity

      Modern 2,500 SF steel building with drive-thru and Master ID.
      1814 W State St, New Castle, PA 16101
      View Details
    • $1,400,000
      2.34 Acres

      Two-Story Office Building For Sale

      16,000 SF office building with 36 private offices.
      2599 Wilmington Rd, New Castle, PA 16105
      View Details
    • $158,000
      0.39 Acres

      Updated Brick Office Building

      Move-in ready office building with recent updates and ample parking.
      143 E Wallace Ave, New Castle, PA 16101
      View Details
    • $169,900
      0.06 Acres

      Renovated Commercial Space in New Castle

      Turnkey commercial space with high visibility and modern updates.
      107 E North St, New Castle, PA 16101
      View Details
    • New
      $95,000
      1,978 SF

      New Castle Duplex with Garage

      Duplex in New Castle, PA, with immediate income potential.
      208 E Cherry St, New Castle, PA 16102
      View Details
    • New
      $145,000
      5,000 SF

      Functional Warehouse in Prime Location

      Well-equipped warehouse with ample parking and convenient highway access.
      712 S Mill St, New Castle, PA 16101
      View Details
    • $400,000
      1.59 Acres

      High-Visibility Corner Lot on Wilmington Road

      1.59 acre corner lot with high traffic and redevelopment potential.
      3015 Wilmington Rd, New Castle, PA 16105
      View Details
    • $1,250,000
      2.30 Acres

      Union Twp Commercial Property For Sale

      Commercial property with showroom, offices, mechanics shop, and detail area.
      2757 W State St, New Castle, PA 16101
      View Details
    • $299,900
      Pending

      New Castle Specialty Property

      Specialty property available for sale in New Castle, Pennsylvania.
      100 Margaret St, New Castle, PA 16101
      View Details
    • Contact for pricing
      1.32 Acres

      Neshannock Twp Office For Sale

      Commercial rental opportunity in prime location off Route 18.
      3120 Wilmington Rd, New Castle, PA 16105
      View Details

    FAQs

    What type of property is this?
    Office building - Well-maintained, vacant office building with ample parking near Pittsburgh.
    Where is this office building located?
    The property is located at New Castle, PA.
    What are key features of this property?
    This property features: - Vacant +/- 80,000 SF Class "B" Office Building on 8+ Acres; - Boasts +/- 600 Parking Spaces; - Located in New Castle, PA - 45 Miles Northwest of Pittsburgh
    (412) 434-1031
    Request Owner's contact information
    New Castle, PA 16105
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    New Castle, PA 16105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    New Castle, PA 16105
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Martin Perry
    (412) 434-1031
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.