Leased Industrial Buildings with Expansion
For Sale
$1,400,000
1308-1316 Pennsylvania Ave. W, Warren, PA 16365
Two industrial buildings fully leased until 2026 with expansion possibilities.
Property Size12,000 SF
Price / SF$116.67
Days on Market261
Property Features for 1308-1316 Pennsylvania Ave. W
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Industrial
Building Details
Building Size
12,000 SF
Year Built
2013
Listing Agency:
(570) 578-8296
Listed By:
Steve Cole, SIOR
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:55AM
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 Steve Cole, SIOR
Investment Insights
Based on property information with market context.
This property features two industrial warehouse/distribution buildings, each approximately 12,000 square feet. The buildings are fully leased and tenant-occupied until 2026. The parcel spans 6.64 acres, offering ample space for the addition of a new 40,000 square foot building. Rail access is a possibility. The buildings are of Butler Building System construction, each measuring 80 feet by 150 feet by 20 feet. They feature 6-inch thick reinforced concrete floors. Each building includes one 9-foot by 10-foot steel insulated dock door with two windows and weather seals, as well as one 12-foot by 14-foot steel insulated drive-in door with two windows and 7-foot light track weather seals. Each building is equipped with one dock leveler with a 6-foot by 8-foot deck, 20-inch lip, weather seals, and 6-inch laminated bumpers. Each building has four exterior doors and five 3-foot by 3-foot slide windows. There are two 2-foot by 6-foot single-user, ADA-compatible restrooms in each building. Heating is provided by six natural gas-fired 175,000 BTU radiant overhead heaters in each building. Lighting consists of 400-watt metal halide high bay lights. Each building has a 480-volt, 3-phase, 400-amp electrical service, along with a 480/277 volt, 200-amp circuit panel and a 208/120 volt, 200-amp circuit panel, and a 75 KVA 480/208 volt transformer. The property includes 20,000 square feet of surface parking to the side and between each building, including the entryway.
Key Highlights
- Fully leased until 2026, providing immediate income.
- Expansion potential with space for a new 40,000 SF building.
- Two existing 12,000 SF industrial warehouse/distribution buildings.
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
$85,022
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
6.07%
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%
$1,700,440
$1.7M
Cap Rate 7%
$1,214,600
$1.2M
Cap Rate 9%
$944,689
$944.7K
Market Conditions
NOI Build-Up for 12,000 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
$106.0K $8.83/SF
− Vacancy
−$5.9K −$0.49/SF
EGI
$100.0K $8.34/SF
− OpEx
−$15.0K −$1.25/SF
NOI
$85.0K $7.09/SF
Area
Warren County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
15.00%
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%
$1,700,440
Cap Rate 7%
$1,214,600
Cap Rate 9%
$944,689
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.42M
NOI $85,022 @ 7.0% cap · market cap 6.07%
Second Best
Industrial
$1.00M
$875.2K – $1.17M
NOI $70,018 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,518 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16365, PA
17,428
Population
8,861
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
95%
High-School Grad
139.3 sq mi
ZIP Area
125
Density / Sq Mi
$57,694
Median Household Income
$36,810
Median Earnings
$778
Median Rent
$118,300
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?
Warehouse - Two industrial buildings fully leased until 2026 with expansion possibilities.
Where is this warehouse located?
The property is located at 1308-1316 Pennsylvania Ave. W Warren, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully leased until 2026, providing immediate income.; Expansion potential with space for a new 40,000 SF building.; Two existing 12,000 SF industrial warehouse/distribution buildings.
