Two-Story Office
For Sale
$875,000
3135 Wilmington Rd., New Castle, PA 16105
CommercialSale, New Castle, PA
Property Size7,000 SF
Lot Size0.60 Acres
Price / SF$125
Days on Market221
Property Features for 3135 Wilmington Rd.
General Information
Property type
Commercial Sale
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
Amenities
conference room
Building Details
Year built
2006
Listing Agency:
RE/MAX SELECT REALTY · RE/MAX International
(724) 933-6300
Listed By:
Tracy Mantzell · License #RS328339
(678) 378-2876
Added: Jan 26
Changed: Sep 4
Last Checked: Sep 4 at 5:06PM
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.
Built in 2006, this two-story brick office building offers almost 7,000 SF of finished space on a 0.6-acre site. The upper level is configured for medical office use with a reception area, 7 exam rooms, 3 offices, 3 public ADA-compliant restrooms, a nurses station, staff areas, and a private rear entrance. Non-load-bearing walls and a pre-engineered wood-trussed roof support future reconfiguration.
The lower level includes nearly 3,000 SF of finished space with an open central area, 3 offices, a conference room, storage, and 2 restrooms. Separate utilities and HVAC serve the building, which also includes a sound-insulated superior wall pre-cast concrete basement. The property provides 28 paved parking spaces with side-road access for easier egress onto the divided highway. Commercial zoning supports multiple possible uses, and the building is located less than three miles from Jameson Hospital in New Castle.
The lower level includes nearly 3,000 SF of finished space with an open central area, 3 offices, a conference room, storage, and 2 restrooms. Separate utilities and HVAC serve the building, which also includes a sound-insulated superior wall pre-cast concrete basement. The property provides 28 paved parking spaces with side-road access for easier egress onto the divided highway. Commercial zoning supports multiple possible uses, and the building is located less than three miles from Jameson Hospital in New Castle.
Key Highlights
- Almost 7,000 SF of finished office space on a 0.6‑acre site
- Upper level includes 7 exam rooms, 3 offices, 3 public ADA‑compliant restrooms, and a nurses station
- Nearly 3,000 SF of lower‑level space with offices, conference room, storage, and restrooms
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
414
Businesses Nearby
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?
Office building - Brick office property with adaptable medical-office improvements, separate utilities, HVAC, and paved parking.
Where is this office building 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: Almost 7,000 SF of finished office space on a 0.6‑acre site; Upper level includes 7 exam rooms, 3 offices, 3 public ADA‑compliant restrooms, and a nurses station; Nearly 3,000 SF of lower‑level space with offices, conference room, storage, and restrooms
