Two-Story Warehouse with Garage
New
For Sale
$110,000
409 W Locust St, Butler, PA 16001
Cement-block construction combines office space, an open upper level, and front off-street parking.
Property Size2,450 SF
Price / SF$44.90
Days on Market4
Property Features for 409 W Locust St
General Information
Standard status
Active
Size
2,450 SF
Property subtype
Warehouse
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$1,131
Building Details
Buildings
1
Stories
2
Building Size
2,450 SF
Construction
cement block
Listing Agency:
KEYSTONE SIGNATURE REALTY LLC
Listed By:
Debra Monteleone · License #RS351067
(724) 903-5339
Source:
Nelsonrealtypa
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 2:46PM
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 KEYSTONE SIGNATURE REALTY LLC
Investment Insights
Based on property information with market context.
This approximately 2,450-square-foot warehouse is arranged across two levels with cement-block construction. The ground floor includes a garage-door entry, a separate personnel entrance, office or reception space, and one half-bath. Heating is provided by a gas forced-air furnace. An expansive open area occupies the second floor, adding functional space for storage, work activities, or inventory.
The property is located at 409 W. Locust Street and includes off-street parking positioned in front of the building. Its combination of ground-level access, office space, and upper-floor open area supports a range of warehouse and work-oriented configurations, subject to applicable zoning and municipal requirements.
The property is located at 409 W. Locust Street and includes off-street parking positioned in front of the building. Its combination of ground-level access, office space, and upper-floor open area supports a range of warehouse and work-oriented configurations, subject to applicable zoning and municipal requirements.
Key Highlights
- Approximately 2,450 square feet across two floors
- Cement‑block commercial building
- Ground‑floor garage‑door and separate personnel entrances
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
$10,076
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
9.16%
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%
$201,520
$201.5K
Cap Rate 7%
$143,943
$143.9K
Cap Rate 9%
$111,956
$112.0K
Market Conditions
NOI Build-Up for 2,450 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
$12.3K $5.04/SF
− Vacancy
−$494 −$0.20/SF
EGI
$11.9K $4.84/SF
− OpEx
−$1.8K −$0.73/SF
NOI
$10.1K $4.11/SF
Area
Butler County, PA
Vacancy
4.00%
Lease Rate
$5.04 /SF/Yr
Expense Ratio
15.00%
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%
$201,520
Cap Rate 7%
$143,943
Cap Rate 9%
$111,956
Alternative Uses
Best Use
Warehouse
$143.9K
$126.0K – $167.9K
NOI $10,076 @ 7.0% cap · market cap 9.16%
Second Best
Industrial
$118.5K
$103.7K – $138.3K
NOI $8,298 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$624.1K
$546.1K – $728.1K
NOI $43,684 @ 7.0% cap · market cap 39.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,644
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16001, PA
40,085
Population
19,757
Households
2
Avg Household Size
46
Median Age
28%
College-Educated
94%
High-School Grad
75.8 sq mi
ZIP Area
529
Density / Sq Mi
$61,325
Median Household Income
$42,542
Median Earnings
$864
Median Rent
$191,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Finn Storage — 505 W New Castle St Rear, Butler, PA 16001
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Frequently Asked Questions
What type of property is this?
Warehouse - Cement-block construction combines office space, an open upper level, and front off-street parking.
Where is this warehouse located?
The property is located at 409 W Locust St Butler, PA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Approximately 2,450 square feet across two floors; Cement‑block commercial building; Ground‑floor garage‑door and separate personnel entrances
