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    New Veterans Affairs Outpatient Center Title is generated by Realmo AI

    1505 N Hermitage Rd, Hermitage, PA

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

    Type:OFFICE
    Property size:
    14,907 SF
    Lot size:
    2.17 Acres
    Price / SF:
    $335/SF
    Added:
    Jul 23, 2025
    Days on Market:
    316
    Last Refresh:
    May 20 at 8:21 pm

    Property Features for 1505 N Hermitage Rd

    General Information

    Standard status
    Active
    Size
    14,907 SF
    Lot size
    2.17 Acres
    Property subtype
    OFFICE

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    Listing Contact
    Dan Lariccia
    Dan Lariccia

    Listing agent Dan Lariccia

    Listing office Passov Real Estate Group

    Listing date Jul 23, 2025

    Source Moodyscre

    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 Passov Real Estate Group

    HighLights

    • Leased to United States Veterans Affairs
    • Brand new build‑to‑suit property
    • 10‑year firm lease term
    • $2,946,700 Veterans Affairs contribution to interior tenant improvements
    • Building size: 14,907 SF
    • Acreage: 2.768 AC

    Overview

    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.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $432.9k $29.04
    − Vacancy −$51.9k −$3.48
    EGI $381.0k $25.56
    − OpEx −$95.2k −$6.39
    NOI $285.7k $19.17
    14,907 SF · lease $29.04/SF/yr · vacancy 12.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $4.08M
    $3.57M – $4.76M (±1% cap)
    NOI $285,714 @ 7.0% cap · market cap 5.72%
    Second Best
    Healthcare Medical
    $3.28M
    $2.87M – $3.83M (±1% cap)
    NOI $229,902 @ 7.0% cap · market cap 4.60%
    Theoretical Best
    Office A
    $5.25M
    $4.60M – $6.13M (±1% cap)
    NOI $367,728 @ 7.0% cap · market cap 7.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Knott's Interiors & Flooring Carpet & Flooring Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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 3816 E State St, Hermitage, PA 16148
    • Fette Veterinary Clinic 2945 Highland Rd, Hermitage, PA 16148

    Location Insight

    • Map
    • Local Demand
    City
    Hermitage
    County
    Mercer
    State
    Pennsylvania
    Longitude
    -80.4523
    Latitude
    41.2541

    FAQs

    What type of property is this?
    Medical Office Space - New build-to-suit outpatient center leased to Veterans Affairs.
    Where is this medical office space 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 Call to check price and availability
    More about this property
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