Warehouse with Small
For Sale
$549,000
2983 WASHINGTON AVE, Clearfield, PA 16830
For-sale warehouse property currently configured with a small office area.
Property Size6,651 SF
Days on Market189
Property Features for 2983 WASHINGTON AVE
General Information
Standard status
Active
Size
6,651 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$4,588
Building Details
Building Size
6,651 SF
Year Built
1973
Listing Agency:
BURLEIGH REAL ESTATE
Listed By:
Jennifer L Suhoney · License #RM424474
(814) 765-9660
Source:
Nelsonrealtypa
Added: Mar 11
Changed: Aug 14
Last Checked: Sep 14 at 7:54AM
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 BURLEIGH REAL ESTATE
Investment Insights
Based on property information with market context.
This for-sale commercial property is currently being used as a warehouse with a small office space. The building offers a functional combination of warehouse work area and office support space, with flexibility for a buyer to adapt the layout to a different operating use.
The property is located at 2983 WASHINGTON AVE in Clearfield, PA 16830.
As presented, the asset’s primary improvement is the warehouse configuration supported by an attached or included small office area, making it well-suited for users seeking straightforward industrial space with built-in administrative space.
The property is located at 2983 WASHINGTON AVE in Clearfield, PA 16830.
As presented, the asset’s primary improvement is the warehouse configuration supported by an attached or included small office area, making it well-suited for users seeking straightforward industrial space with built-in administrative space.
Key Highlights
- Warehouse property currently configured with a small office area
- Year built: 1973
- Building is currently used as a warehouse with office space, with potential for conversion to other uses
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
$47,124
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
8.58%
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%
$942,480
$942.5K
Cap Rate 7%
$673,200
$673.2K
Cap Rate 9%
$523,600
$523.6K
Market Conditions
NOI Build-Up for 6,651 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
$58.7K $8.83/SF
− Vacancy
−$3.3K −$0.49/SF
EGI
$55.4K $8.34/SF
− OpEx
−$8.3K −$1.25/SF
NOI
$47.1K $7.09/SF
Area
Clearfield 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%
$942,480
Cap Rate 7%
$673,200
Cap Rate 9%
$523,600
Alternative Uses
Best Use
Warehouse
$673.2K
$589.1K – $785.4K
NOI $47,124 @ 7.0% cap · market cap 8.58%
Second Best
Industrial
$554.4K
$485.1K – $646.8K
NOI $38,808 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,670 @ 7.0% cap · market cap 18.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16830, PA
13,121
Population
6,841
Households
1.9
Avg Household Size
46
Median Age
19%
College-Educated
91%
High-School Grad
132.0 sq mi
ZIP Area
99
Density / Sq Mi
$56,822
Median Household Income
$36,601
Median Earnings
$745
Median Rent
$119,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - For-sale warehouse property currently configured with a small office area.
Where is this flex space located?
The property is located at 2983 WASHINGTON AVE Clearfield, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Warehouse property currently configured with a small office area; Year built: 1973; Building is currently used as a warehouse with office space, with potential for conversion to other uses
