Neshannock Township Office
For Sale
$875,000
3135 Wilmington Rd, New Castle, PA 16105
Two-story office building near Jameson Hospital with flexible commercial zoning.
Property Size7,000 SF
Price / SF$125
Days on Market221
Property Features for 3135 Wilmington Rd
General Information
Standard status
Active
Size
7,000 SF
Taxes and HOA fees
Annual Taxes
$16,386
Listing Agency:
RE/MAX SELECT REALTY
Listed By:
Tracy Mantzell
(724) 933-6300
Source:
Exprealty
Added: Jan 26
Changed: Sep 3
Last Checked: Sep 1 at 10:34PM
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 RE/MAX SELECT REALTY
Investment Insights
Based on property information with market context.
This two-story brick building, constructed in 2006, offers approximately 7,000 square feet of finished space. The upper level, designed for medical office use, features a reception area, seven exam rooms, three offices, three ADA-compliant restrooms, a nurses' station, and a private rear entrance, totaling nearly 4,000 square feet. The lower level includes a central open space, three offices, a conference room, a storage area, and two restrooms, encompassing almost 3,000 square feet. The building has separate utilities and HVAC systems. It also features a pre-cast concrete basement with soundproofing insulation and pre-engineered wood trusses supporting the roof. There are 28 paved parking spaces with access from a side road. The property is commercially zoned with multiple possible uses. It is located in Neshannock Township, less than three miles from Jameson Hospital in New Castle.
Key Highlights
- Prime office space in Neshannock Township, less than three miles from Jameson Hospital.
- Almost 7000 SF of finished space in a two‑story, all‑brick building built in 2006.
- Upstairs designed for medical office use with 7 exam rooms, large reception area, and ADA compliant 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
Location Intelligence
Trade Area within ½ mile
414
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 - Two-story office building near Jameson Hospital with flexible commercial zoning.
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: Prime office space in Neshannock Township, less than three miles from Jameson Hospital.; Almost 7000 SF of finished space in a two‑story, all‑brick building built in 2006.; Upstairs designed for medical office use with 7 exam rooms, large reception area, and ADA compliant restrooms.
