Medical Office Space on
For Sale
$350,000
3030 Wilmington Road, New Castle, PA 16105
CommercialSale, New Castle, PA
Property Size2,700 SF
Lot Size2.56 Acres
Price / SF$129.63
Days on Market10
Property Features for 3030 Wilmington Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Zoning description
C2
Parking
15
Subdivision
Neshannock Twp
Standard status
Active
Lot size
2.56 Acres
Taxes and HOA fees
Tax Annual Amount
6430
Building Details
Year built
1995
Listing Agency:
CASTLE REALTY
Listed By:
Shellie Staph
(724) 654-5589
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 10 at 10:06AM
MLS# 1772540
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This one-story medical office property includes over 2,700 square feet of commercial building space on 2.56 acres across two parcels. Constructed in 1995, the facility was previously used as a veterinary clinic and offers a layout that can be adapted for medical, professional, or other commercial operations. C2 zoning supports a range of commercial applications, subject to applicable approvals and requirements.
The property is located at 3030 Wilmington Road in New Castle, Pennsylvania, along a principal roadway through Lawrence County. Its combination of an existing commercial building, sizable land component, and single-story configuration provides a practical base for an owner-user or business seeking room for expansion. The site’s address is in ZIP Code 16105.
The property is located at 3030 Wilmington Road in New Castle, Pennsylvania, along a principal roadway through Lawrence County. Its combination of an existing commercial building, sizable land component, and single-story configuration provides a practical base for an owner-user or business seeking room for expansion. The site’s address is in ZIP Code 16105.
Key Highlights
- Over 2,700 square feet of commercial building space
- 2.56 acres across two parcels
- C2 zoning
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
$22,478
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
6.42%
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%
$449,560
$449.6K
Cap Rate 7%
$321,114
$321.1K
Cap Rate 9%
$249,756
$249.8K
Market Conditions
NOI Build-Up for 2,700 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
$40.5K $15.00/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$37.5K $13.88/SF
− OpEx
−$15.0K −$5.55/SF
NOI
$22.5K $8.33/SF
Area
Lawrence County, PA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
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%
$449,560
Cap Rate 7%
$321,114
Cap Rate 9%
$249,756
Alternative Uses
Best Use
Office B
$492.7K
$431.1K – $574.9K
NOI $34,491 @ 7.0% cap · market cap 9.85%
Second Best
Healthcare Medical
$321.1K
$281.0K – $374.6K
NOI $22,478 @ 7.0% cap · market cap 6.42%
Theoretical Best
Warehouse
$3.28M
$2.87M – $3.83M
NOI $229,560 @ 7.0% cap · market cap 65.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16105, PA
15,420
Population
7,249
Households
2.1
Avg Household Size
49
Median Age
35%
College-Educated
95%
High-School Grad
25.6 sq mi
ZIP Area
602
Density / Sq Mi
$67,256
Median Household Income
$46,539
Median Earnings
$965
Median Rent
$175,100
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 Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - One-story commercial facility with C2 zoning and an adaptable layout for medical or professional operations.
Where is this medical office space located?
The property is located at 3030 Wilmington Road New Castle, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Over 2,700 square feet of commercial building space; 2.56 acres across two parcels; C2 zoning
