Two-Tenant Office
For Sale
$1,125,000
251/257 South Main Street, Butler, PA 16001
Two distinct office buildings offer flexible layouts with expansive conference rooms, modern kitchens, and room for expansion.
Property Size3,000 SF
Days on Market79
Property Features for 251/257 South Main Street
General Information
Standard status
Active
Size
3,000 SF
Class
B
Property subtype
Multi Tenant Office
Amenities
conference rooms
modern kitchens
Building Details
Building Size
3,000 SF
Year Built
1920
Listing Agency:
BERKSHIRE HATHAWAY HOME SERVICES
Listed By:
Sharon Scheidemantle · License #AB065471
(412) 780-3600
Source:
Thebrokerlist
Added: Jun 22
Changed: Sep 2
Last Checked: Sep 8 at 3:32AM
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 BERKSHIRE HATHAWAY HOME SERVICES
Investment Insights
Based on property information with market context.
This offering includes two architecturally distinct commercial office buildings in downtown Butler. The spaces feature soaring ceilings, exposed brick, and warm wood details, along with expansive conference rooms and modern kitchens. Flexible layouts are complemented by a floor plan that is laid out for expansion space, with some rough-ins already in place.
Both buildings provide exceptional street presence on South Main Street, supporting a visible, business-ready environment.
Overall, the configuration is designed to blend historic character with contemporary functionality, giving companies a turnkey setting with the option to accommodate additional space needs where rough-ins are already underway.
Both buildings provide exceptional street presence on South Main Street, supporting a visible, business-ready environment.
Overall, the configuration is designed to blend historic character with contemporary functionality, giving companies a turnkey setting with the option to accommodate additional space needs where rough-ins are already underway.
Key Highlights
- Two architecturally distinct commercial office buildings in downtown Butler
- Built in 1920 with historic character including exposed brick and warm wood details
- Buildings feature soaring ceilings and expansive conference rooms
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
$38,324
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
3.41%
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%
$766,480
$766.5K
Cap Rate 7%
$547,486
$547.5K
Cap Rate 9%
$425,822
$425.8K
Market Conditions
NOI Build-Up for 3,000 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
$67.7K $22.56/SF
− Vacancy
−$16.6K −$5.53/SF
EGI
$51.1K $17.03/SF
− OpEx
−$12.8K −$4.26/SF
NOI
$38.3K $12.77/SF
Area
Butler County, PA
Vacancy
24.50%
Lease Rate
$22.56 /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%
$766,480
Cap Rate 7%
$547,486
Cap Rate 9%
$425,822
Alternative Uses
Best Use
Office B
$547.5K
$479.1K – $638.7K
NOI $38,324 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$764.1K
$668.6K – $891.5K
NOI $53,490 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 16001, PA
40,085
Population
19,757
Households
2
Avg Household Size
46
Median Age
28%
College-Educated
94%
High-School Grad
75.8 sq mi
ZIP Area
529
Density / Sq Mi
$61,325
Median Household Income
$42,542
Median Earnings
$864
Median Rent
$191,400
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 - Two distinct office buildings offer flexible layouts with expansive conference rooms, modern kitchens, and room for expansion.
Where is this office building located?
The property is located at 251/257 South Main Street Butler, PA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Two architecturally distinct commercial office buildings in downtown Butler; Built in 1920 with historic character including exposed brick and warm wood details; Buildings feature soaring ceilings and expansive conference rooms
