All-Brick Two-Story Medical
For Sale
$875,000
3135 Wilmington Rd., New Castle, PA 16105
SINGLE_FAMILY - New Castle, PA
Property Size7,000 SF
Lot Size0.60 Acres
Price / SF$125
Days on Market203
Property Features for 3135 Wilmington Rd.
General Information
Property type
Residential
Property subtype
Office
Zoning
Com
Zoning description
Com
Parking
28
Directions
From 376, take the Mitchell Road exit. Turn right at the light onto Route 18 south. Building is on the right, corner of 18 and Fairhill Drive
Subdivision
Neshannock Twp
Standard status
Active
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
16386
Building Details
Year built
2006
Listing Agency:
RE/MAX SELECT REALTY · RE/MAX International
(724) 933-6300
Listed By:
Tracy Mantzell · License #RS328339
(724) 933-6300
Added: Jan 26
Changed: Jun 30
Last Checked: Aug 17 at 12:06AM
MLS# 1738144
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.
An all-brick, two-story medical office building constructed in 2006 offering nearly 7,000 SF of finished space that has been freshly painted. The upstairs level is designed for medical office use and includes a large reception area, seven exam rooms, three offices, a nurses station, and other public spaces, supported by three ADA-compliant public restrooms. This upper layout also offers flexibility, with the ability to reconfigure using a pre-engineered wood trussed roof and non-load bearing walls. A private rear entrance and separated utilities and HVAC support day-to-day operations.
The lower level includes a wide-open central area with three offices, a large conference room, storage, and two restrooms, totaling nearly 3,000 SF of finished space. A superior wall pre-cast concrete basement with soundproofing insulation adds practicality for staff and operations. The property includes 28 paved parking spaces accessed from a side road, providing easier egress onto a divided highway.
Zoned Com, the building supports multiple possible uses beyond its current medical configuration. With separate utilities and HVAC by level and dedicated entrances, it may suit owner-operators or tenants seeking an organized, reconfigurable office environment with ready-made patient and staff amenities.
The lower level includes a wide-open central area with three offices, a large conference room, storage, and two restrooms, totaling nearly 3,000 SF of finished space. A superior wall pre-cast concrete basement with soundproofing insulation adds practicality for staff and operations. The property includes 28 paved parking spaces accessed from a side road, providing easier egress onto a divided highway.
Zoned Com, the building supports multiple possible uses beyond its current medical configuration. With separate utilities and HVAC by level and dedicated entrances, it may suit owner-operators or tenants seeking an organized, reconfigurable office environment with ready-made patient and staff amenities.
Key Highlights
- All‑brick, two‑story office/medical building built in 2006 with nearly 7,000 SF of finished space
- Upstairs offers medical office layout with reception, 7 exam rooms, 3 offices, and three public ADA‑compliant restrooms totaling nearly 4,000 SF
- Downstairs features a wide open central space plus three offices, a large conference room, storage, and two restrooms totaling nearly 3,000 SF
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
$58,275
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
6.66%
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%
$1,165,500
$1.2M
Cap Rate 7%
$832,500
$832.5K
Cap Rate 9%
$647,500
$647.5K
Market Conditions
NOI Build-Up for 7,000 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
$105.0K $15.00/SF
− Vacancy
−$7.9K −$1.13/SF
EGI
$97.1K $13.88/SF
− OpEx
−$38.9K −$5.55/SF
NOI
$58.3K $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%
$1,165,500
Cap Rate 7%
$832,500
Cap Rate 9%
$647,500
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,422 @ 7.0% cap · market cap 10.22%
Second Best
Healthcare Medical
$832.5K
$728.4K – $971.3K
NOI $58,275 @ 7.0% cap · market cap 6.66%
Theoretical Best
Warehouse
$8.50M
$7.44M – $9.92M
NOI $595,156 @ 7.0% cap · market cap 68.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freshly painted, all-brick building with flexible exam-room layout and multiple restrooms, plus dedicated parking access.
Where is this medical office space located?
The property is located at 3135 Wilmington Rd. New Castle, PA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: All‑brick, two‑story office/medical building built in 2006 with nearly 7,000 SF of finished space; Upstairs offers medical office layout with reception, 7 exam rooms, 3 offices, and three public ADA‑compliant restrooms totaling nearly 4,000 SF; Downstairs features a wide open central space plus three offices, a large conference room, storage, and two restrooms totaling nearly 3,000 SF
