Multi-Bay Garage
For Sale
Contact for pricing
312 Main Street, Boswell, PA 15531
Five-bay garage includes a new roof and two bays currently occupied, with utilities available including water, sewage, and gas service.
Property Size1,650 SF
Price / SF$84.79
Days on Market111
Property Features for 312 Main Street
General Information
Standard status
Active
Size
1,650 SF
Class
B
Property subtype
Retail, Mixed Use, Self Storage
Zoning
Commercial
Additional Details
Business Included
Yes
Utilities to Site
Yes
Service Bays
5
Building Details
Buildings
1
Units
5
Listing Agency:
Keystone Realty PA, LLC
Listed By:
Rick Hovanec · License #RM425327
Source:
Crexi
Added: May 18
Changed: Sep 2
Last Checked: Sep 1 at 8:55AM
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 Keystone Realty PA, LLC
Investment Insights
Based on property information with market context.
This five-bay garage property is offered for sale and features an updated exterior with a new roof, gutters, and soffit and fascia. Two of the bays are already occupied and generating revenue, with the remaining bays available to rent out or use as storage.
The property includes water and sewage services and has a gas connection available at the street. A 200-amp electrical box is also provided on-site.
Overall, the layout supports a multi-bay configuration suited to vehicle and personal storage operations, with income already present from existing occupancy.
The property includes water and sewage services and has a gas connection available at the street. A 200-amp electrical box is also provided on-site.
Overall, the layout supports a multi-bay configuration suited to vehicle and personal storage operations, with income already present from existing occupancy.
Key Highlights
- 5‑bay garage for sale in the heart of Boswell
- New roof plus new gutters and soffit fascia
- 2 bays currently occupied and generating revenue
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
$11,691
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
8.36%
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%
$233,820
$233.8K
Cap Rate 7%
$167,014
$167.0K
Cap Rate 9%
$129,900
$129.9K
Market Conditions
NOI Build-Up for 1,650 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
$14.6K $8.83/SF
− Vacancy
−$816 −$0.49/SF
EGI
$13.8K $8.34/SF
− OpEx
−$2.1K −$1.25/SF
NOI
$11.7K $7.09/SF
Area
Somerset 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%
$233,820
Cap Rate 7%
$167,014
Cap Rate 9%
$129,900
Alternative Uses
Best Use
Self Storage
$218.6K
$191.3K – $255.0K
NOI $15,301 @ 7.0% cap · market cap 10.94%
Second Best
Warehouse
$167.0K
$146.1K – $194.9K
NOI $11,691 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$522.7K
$457.4K – $609.8K
NOI $36,590 @ 7.0% cap · market cap 26.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 15531, PA
3,614
Population
1,907
Households
1.9
Avg Household Size
47
Median Age
17%
College-Educated
90%
High-School Grad
60.9 sq mi
ZIP Area
59
Density / Sq Mi
$52,955
Median Household Income
$35,247
Median Earnings
$680
Median Rent
$122,900
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?
Self storage facility - Five-bay garage includes a new roof and two bays currently occupied, with utilities available including water, sewage, and gas service.
Where is this self storage facility located?
The property is located at 312 Main Street Boswell, PA.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 5‑bay garage for sale in the heart of Boswell; New roof plus new gutters and soffit fascia; 2 bays currently occupied and generating revenue
