Heated Commercial Garage with
For Sale
$300,000
907 Airesman Rd, Boswell, PA 15531
Versatile garage property with heated workspace, office space, and substantial parking on a large lot for automotive or light industrial uses.
Property Size3,200 SF
Lot Size7.70 Acres
Price / SF$93.75
Days on Market655
Property Features for 907 Airesman Rd
General Information
Standard status
Active
Size
3,200 SF
Lot size
7.70 Acres
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,039
Listing Agency:
Coldwell Banker Premier
(702) 871-9500
Listed By:
Cheryl McInroy · License #AB068119
(814) 232-0737
Source:
Exprealty
Added: Nov 21, 2024
Changed: Sep 5
Last Checked: Sep 6 at 10:58AM
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 Coldwell Banker Premier
Investment Insights
Based on property information with market context.
This property features a versatile 40 x 80 commercial garage set on a spacious 7.7+ acre lot. The garage is equipped with in-floor heating and includes a loft office with a storage area and a half bath, plus additional first-floor office space. The site is supported by a car lift and an air compressor, and additional equipment may be negotiable. Outdoor above-ground fuel tanks are included, along with a cement slab already in place to support future building needs.
Access is designed for business operations, with approximately 3 acres of parking and additional room for expansion on the mostly level lot. The property is located near Route 985 and about 8 miles from the PA Turnpike, supporting convenient regional connectivity.
For tenants, buyers, or operators, the combination of heated shop space, built-in office areas, and large-scale parking makes the property well suited to automotive services, light industrial work, or storage-based operations that need room to operate and room to grow. The existing slab and level site provide a straightforward path for considering added improvements, subject to applicable approvals.
Access is designed for business operations, with approximately 3 acres of parking and additional room for expansion on the mostly level lot. The property is located near Route 985 and about 8 miles from the PA Turnpike, supporting convenient regional connectivity.
For tenants, buyers, or operators, the combination of heated shop space, built-in office areas, and large-scale parking makes the property well suited to automotive services, light industrial work, or storage-based operations that need room to operate and room to grow. The existing slab and level site provide a straightforward path for considering added improvements, subject to applicable approvals.
Key Highlights
- 40 x 80 commercial garage on a 7.7+ acre lot, designed for automotive services, light industrial, or storage uses
- In‑floor heating plus a loft office with storage and a half bath, with additional first‑floor office space
- About 3 acres of parking, plus room to expand on a level lot
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
$18,672
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
6.22%
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%
$373,440
$373.4K
Cap Rate 7%
$266,743
$266.7K
Cap Rate 9%
$207,467
$207.5K
Market Conditions
NOI Build-Up for 3,200 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
$28.3K $8.83/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$26.7K $8.34/SF
− OpEx
−$8.0K −$2.50/SF
NOI
$18.7K $5.83/SF
Area
Somerset 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%
$373,440
Cap Rate 7%
$266,743
Cap Rate 9%
$207,467
Alternative Uses
Best Use
Retail
$979.1K
$856.8K – $1.14M
NOI $68,540 @ 7.0% cap · market cap 22.85%
Second Best
Industrial
$266.7K
$233.4K – $311.2K
NOI $18,672 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$1.01M
$887.0K – $1.18M
NOI $70,963 @ 7.0% cap · market cap 23.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15531, PA
3,614
Population
1,907
Households
1.9
Avg Household Size
47
Median Age
17%
College-Educated
90%
High-School Grad
60.9 sq mi
ZIP Area
59
Density / Sq Mi
$52,955
Median Household Income
$35,247
Median Earnings
$680
Median Rent
$122,900
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?
Flex space - Versatile garage property with heated workspace, office space, and substantial parking on a large lot for automotive or light industrial uses.
Where is this flex space located?
The property is located at 907 Airesman Rd Boswell, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 40 x 80 commercial garage on a 7.7+ acre lot, designed for automotive services, light industrial, or storage uses; In‑floor heating plus a loft office with storage and a half bath, with additional first‑floor office space; About 3 acres of parking, plus room to expand on a level lot
