Flex Space Investment
For Sale
$395,000
428 E 3RD ST., Williamsport, PA 17701
Flex space leased on a triple net basis through May 31, 2030 in Williamsport.
Property Size2,370 SF
Price / SF$166.67
Days on Market69
Property Features for 428 E 3RD ST.
General Information
Standard status
Active
Size
2,370 SF
Property subtype
Commercial
Additional Details
Gross Income
$26,100
Building Details
Year Built
1971
Listing Agency:
Keller Williams Elite
(717) 367-2400
Listed By:
John H Smith · License #RS120032A
(717) 471-9444
Source:
Cummingsrealtors
Added: Jul 13
Changed: Sep 18
Last Checked: Sep 18 at 6:41AM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This well-maintained flex space investment property is leased on a triple net basis. The lease is in place through May 31, 2030.
The property is located at 428 E 3rd St in Williamsport, Pennsylvania. Additional investment properties are also available in Wellsboro and Hazleton, with the option to purchase all three as a portfolio.
The property is located at 428 E 3rd St in Williamsport, Pennsylvania. Additional investment properties are also available in Wellsboro and Hazleton, with the option to purchase all three as a portfolio.
Key Highlights
- Leased on a triple net basis
- Lease runs through May 31, 2030
- Well‑maintained investment property
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
$16,578
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
4.20%
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%
$331,560
$331.6K
Cap Rate 7%
$236,829
$236.8K
Cap Rate 9%
$184,200
$184.2K
Market Conditions
NOI Build-Up for 2,370 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
$27.0K $11.40/SF
− Vacancy
−$1.5K −$0.64/SF
EGI
$25.5K $10.76/SF
− OpEx
−$8.9K −$3.77/SF
NOI
$16.6K $7.00/SF
Area
Lycoming County, PA
Vacancy
5.60%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
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%
$331,560
Cap Rate 7%
$236,829
Cap Rate 9%
$184,200
Alternative Uses
Best Use
Flex RnD
$236.8K
$207.2K – $276.3K
NOI $16,578 @ 7.0% cap · market cap 4.20%
Second Best
Industrial
$197.6K
$172.9K – $230.5K
NOI $13,829 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$510.7K
$446.9K – $595.9K
NOI $35,752 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,642
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 17701, PA
43,197
Population
20,891
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
98.0 sq mi
ZIP Area
441
Density / Sq Mi
$52,770
Median Household Income
$33,643
Median Earnings
$869
Median Rent
$176,200
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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Frequently Asked Questions
What type of property is this?
Flex space - Flex space leased on a triple net basis through May 31, 2030 in Williamsport.
Where is this flex space located?
The property is located at 428 E 3RD ST. Williamsport, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Leased on a triple net basis; Lease runs through May 31, 2030; Well‑maintained investment property
