Freestanding Medical Office
New
For Sale
Contact for pricing
3124 Wilmington Rd, New Castle, PA 16105
Built in 2011, this 40,000-plus SF medical office sits on 2.63 acres with high daily traffic on Wilmington Rd.
Property Size40,059 SF
Lot Size2.63 Acres
Price / SF$103.83
Days on Market3
Property Features for 3124 Wilmington Rd
General Information
Standard status
Active
Size
40,059 SF
Lot size
2.63 Acres
Property subtype
OFFICE
Building Details
Year Built
2011
Tenancy
Multi
Listing Agency:
Legacy Real Estate Advisors
(248) 450-3259
Listed By:
Dominic Shamany · License ##6506047766
(248) 450-3259
Source:
Moodyscre
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 6:14AM
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.
Freestanding medical office building built in 2011 offering 40,059 SF on a 2.63-acre site. The property includes multiple units, with five vacant units identified as an upside component. UPMC is described as an investment grade tenant with an “A2” Moody’s credit rating.
The building is located on Wilmington Rd in New Castle, PA, and is noted as the largest primary care facility in Lawrence County. The site is adjacent to several medical offices, including Family Dental, UPMC, and Hearing Life. High traffic counts are reported at 12,500+ vehicles passing the site daily on Wilmington Rd.
Demographics are presented to support demand, including 18,000+ people residing within a 3 mile radius and projected +1.09% population growth through 2028 within a 1 mile radius.
The building is located on Wilmington Rd in New Castle, PA, and is noted as the largest primary care facility in Lawrence County. The site is adjacent to several medical offices, including Family Dental, UPMC, and Hearing Life. High traffic counts are reported at 12,500+ vehicles passing the site daily on Wilmington Rd.
Demographics are presented to support demand, including 18,000+ people residing within a 3 mile radius and projected +1.09% population growth through 2028 within a 1 mile radius.
Key Highlights
- Built in 2011 medical office building totaling 40,059 SF
- Situated on 2.63 acres
- UPMC listed as an investment grade tenant with an “A2” Moody’s credit rating
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $600.9k | $15.00 |
| − Vacancy | −$45.1k | −$1.13 |
| EGI | $555.8k | $13.88 |
| − OpEx | −$222.3k | −$5.55 |
| NOI | $333.5k | $8.33 |
40,059 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 40.00%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
532
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 2011, this 40,000-plus SF medical office sits on 2.63 acres with high daily traffic on Wilmington Rd.
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: Built in 2011 medical office building totaling 40,059 SF; Situated on 2.63 acres; UPMC listed as an investment grade tenant with an “A2” Moody’s credit rating
