Industrial Investment Property For
For Sale
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18 Industrial Way, Denver, PA 17517
Single tenant NNN leased industrial investment property available for sale.
Property Size39,900 SF
Price / SF$100.13
Days on Market211
Property Features for 18 Industrial Way
General Information
Standard status
Active
Size
39,900 SF
Class
C
Property subtype
Industrial
Zoning
Light Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Italiano Commercial Real Estate
Listed By:
Edward Banes · License #PA RS322090
Source:
Crexi
Added: Jan 24
Changed: Aug 15
Last Checked: Aug 22 at 7:19PM
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 Italiano Commercial Real Estate
Investment Insights
Based on property information with market context.
This industrial investment property is available for sale. It is a single tenant property with a NNN long term lease in place. The property offers a 7% cap rate. The property size is 39900 square feet.
Key Highlights
- New Listing
- Industrial Investment Property
- Single Tenant
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
$222,218
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
5.56%
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%
$4,444,360
$4.4M
Cap Rate 7%
$3,174,543
$3.2M
Cap Rate 9%
$2,469,089
$2.5M
Market Conditions
NOI Build-Up for 39,900 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
$343.9K $8.62/SF
− Vacancy
−$26.5K −$0.66/SF
EGI
$317.5K $7.96/SF
− OpEx
−$95.2K −$2.39/SF
NOI
$222.2K $5.57/SF
Area
Lancaster County, PA
Vacancy
7.70%
Lease Rate
$8.62 /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%
$4,444,360
Cap Rate 7%
$3,174,543
Cap Rate 9%
$2,469,089
Alternative Uses
Best Use
Industrial
$3.17M
$2.78M – $3.70M
NOI $222,218 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.37M
$11.70M – $15.60M
NOI $935,951 @ 7.0% cap · market cap 23.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 17517, PA
16,092
Population
5,636
Households
2.9
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
35.5 sq mi
ZIP Area
453
Density / Sq Mi
$99,688
Median Household Income
$46,072
Median Earnings
$1,229
Median Rent
$281,200
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?
NNN property - Single tenant NNN leased industrial investment property available for sale.
Where is this nnn property located?
The property is located at 18 Industrial Way Denver, PA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: New Listing; Industrial Investment Property; Single Tenant
