Medical Office Building For
For Sale
Contact for pricing
3124 Wilmington Rd, New Castle, PA
40,000+ SF medical office building with investment grade tenant.
Property Size40,059 SF
Lot Size2.18 Acres
Price / SF$103.83
Days on Market270
Property Features for 3124 Wilmington Rd
General Information
Standard status
Active
Size
40,059 SF
Lot size
2.18 Acres
Property subtype
OFFICE
Listing Agency:
Legacy Real Estate Advisors
(248) 450-3259
Listed By:
Dominic Shamany · License ##6501439800
(248) 450-3259
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: May 20 at 9:19PM
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 Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This medical office building, constructed in 2011, offers over 40,000 square feet of space on a 2.63-acre lot. It is the largest primary care facility in Lawrence County. The property benefits from a location with high traffic counts, as approximately 12,500 vehicles pass the site daily on Wilmington Road. The surrounding area has dense demographics, with over 18,000 residents within a 3-mile radius. The property is located adjacent to several other medical offices, including Family Dental, UPMC, and Hearing Life. There is potential for increased value, as the property includes five vacant units. The area is projected to experience population growth of over 1.09% within a 1-mile radius through 2028. UPMC is an investment grade tenant with an "A2" Moody's credit rating.
Key Highlights
- UPMC is an investment grade tenant with an "A2" Moody's credit rating.
- Largest primary care facility in Lawrence County.
- Upside potential: property features 5 vacant units.
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
$333,491
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
8.02%
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%
$6,669,820
$6.7M
Cap Rate 7%
$4,764,157
$4.8M
Cap Rate 9%
$3,705,456
$3.7M
Market Conditions
NOI Build-Up for 40,059 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
$600.9K $15.00/SF
− Vacancy
−$45.1K −$1.13/SF
EGI
$555.8K $13.88/SF
− OpEx
−$222.3K −$5.55/SF
NOI
$333.5K $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%
$6,669,820
Cap Rate 7%
$4,764,157
Cap Rate 9%
$3,705,456
Alternative Uses
Best Use
Office B
$7.31M
$6.40M – $8.53M
NOI $511,738 @ 7.0% cap · market cap 12.30%
Second Best
Healthcare Medical
$4.76M
$4.17M – $5.56M
NOI $333,491 @ 7.0% cap · market cap 8.02%
Theoretical Best
Warehouse
$48.66M
$42.57M – $56.77M
NOI $3,405,908 @ 7.0% cap · market cap 81.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - 40,000+ SF medical office building with investment grade tenant.
Where is this medical office space located?
The property is located at 3124 Wilmington Rd New Castle, PA.
What is the asking price?
The asking price for this property is $4,159,440.
What are key features of this property?
This property features: UPMC is an investment grade tenant with an "A2" Moody's credit rating.; Largest primary care facility in Lawrence County.; Upside potential: property features 5 vacant units.
