Office Building with Adjacent
For Sale
$397,000
2418 & 2388 S Main St, Mansfield, PA 16933
Office property offered with an adjoining undeveloped lot, providing flexibility for expansion or redevelopment planning.
Property Size2,630 SF
Days on Market48
Property Features for 2418 & 2388 S Main St
General Information
Standard status
Active
Size
2,630 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,630 SF
Year Built
1982
Listing Agency:
MPN Realty, Inc.
(267) 546-1731
Listed By:
Chris Cimino
Source:
Mpnrealty
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 8 at 8:02AM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
This offering includes an office property and an adjoining undeveloped lot. The package is presented together as 2418 S. Main Street and 2388 S. Main Street, providing a single ownership structure for the office building and the neighboring land.
The properties are located in Mansfield, Pennsylvania. With both parcels included in the sale, the configuration supports buyers who want to evaluate the current office asset alongside the option to plan around the adjacent undeveloped site.
For tenants, buyers, or operators, this combined setup may be useful when assessing near-term occupancy and longer-term site planning. The office building can serve as the core operating location, while the adjoining lot offers additional control for future considerations such as layout changes or other redevelopment concepts, subject to applicable approvals. The bundled sale structure is also straightforward for parties looking to consolidate decision-making across both parcels rather than coordinating between separate owners.
The properties are located in Mansfield, Pennsylvania. With both parcels included in the sale, the configuration supports buyers who want to evaluate the current office asset alongside the option to plan around the adjacent undeveloped site.
For tenants, buyers, or operators, this combined setup may be useful when assessing near-term occupancy and longer-term site planning. The office building can serve as the core operating location, while the adjoining lot offers additional control for future considerations such as layout changes or other redevelopment concepts, subject to applicable approvals. The bundled sale structure is also straightforward for parties looking to consolidate decision-making across both parcels rather than coordinating between separate owners.
Key Highlights
- Office property at 2418 S. Main Street in Mansfield, PA
- Adjoining undeveloped lot at 2388 S. Main Street offers expansion or redevelopment planning flexibility
- Year built: 1982
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
$23,670
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
5.96%
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%
$473,400
$473.4K
Cap Rate 7%
$338,143
$338.1K
Cap Rate 9%
$263,000
$263.0K
Market Conditions
NOI Build-Up for 2,630 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
$39.5K $15.00/SF
− Vacancy
−$7.9K −$3.00/SF
EGI
$31.6K $12.00/SF
− OpEx
−$7.9K −$3.00/SF
NOI
$23.7K $9.00/SF
Area
Tioga County, PA
Vacancy
20.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$473,400
Cap Rate 7%
$338,143
Cap Rate 9%
$263,000
Alternative Uses
Best Use
Office B
$338.1K
$295.9K – $394.5K
NOI $23,670 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$448.0K
$392.0K – $522.7K
NOI $31,361 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 16933, PA
6,643
Population
3,131
Households
2.1
Avg Household Size
37
Median Age
32%
College-Educated
94%
High-School Grad
102.6 sq mi
ZIP Area
65
Density / Sq Mi
$60,707
Median Household Income
$27,697
Median Earnings
$783
Median Rent
$200,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property offered with an adjoining undeveloped lot, providing flexibility for expansion or redevelopment planning.
Where is this office building located?
The property is located at 2418 & 2388 S Main St Mansfield, PA.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Office property at 2418 S. Main Street in Mansfield, PA; Adjoining undeveloped lot at 2388 S. Main Street offers expansion or redevelopment planning flexibility; Year built: 1982
