Building Details

Year built 1970

Listing Agency: Richards & Richards Real Estate LLC b**@2richardsre.com Show Phone

Listed By: Kristopher Johnson Show Phone

Added: Apr 24 Changed: Sep 4 Last Checked: Oct 15 at 12:06AM

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MLS# 163761

Copyright © 2026 Allegheny Valley Board of Realtors. 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.

This industrial property occupies 4.97 acres along State Route 8 in Oil City, Pennsylvania. Improvements include two large roofed storage tanks, one large open-top tank, and two additional smaller tanks. The site also has three small buildings, a railcar unloading manifold, a tank truck loading and unloading area, and a drainage pump. Property size is listed as 864 square feet, with a 1970 year built.

The Commercial-zoned property provides multiple forms of existing tank and transfer infrastructure in a single industrial setting. Its location on State Route 8 and inclusion of both railcar and tank-truck handling components are key physical characteristics of the site.

Key Highlights

• 4.97‑acre industrial site on State Route 8
• Two large roofed storage tanks plus one large open‑topped tank
• Two additional small storage tanks and three small buildings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$5,041

Cap Rate

5.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$100,820 $100.8K

Cap Rate 7%

$72,014 $72.0K

Cap Rate 9%

$56,011 $56.0K

Market Conditions

NOI Build-Up for 864 SF

Gross rent

$7.6K $8.83/SF

− Vacancy

−$427 −$0.49/SF

EGI

$7.2K $8.34/SF

− OpEx

−$2.2K −$2.50/SF

NOI

$5.0K $5.83/SF

Area

Venango County, PA

Vacancy

5.60%

Lease Rate

$8.83 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$100,820

Cap Rate 7%

$72,014

Cap Rate 9%

$56,011

Alternative Uses

Best Use

Industrial

$72.0K

$63.0K – $84.0K (±1% cap)

NOI $5,041 @ 7.0% cap · market cap 5.04%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$273.7K

$239.5K – $319.3K (±1% cap)

NOI $19,160 @ 7.0% cap · market cap 19.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Industrial properties

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Storage Facility Real Estate Agency Hair Salon Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 16301, PA

14,935

Population

7,648

Households

2

Avg Household Size

45

Median Age

18%

College-Educated

90%

High-School Grad

94.7 sq mi

ZIP Area

158

Density / Sq Mi

$57,368

Median Household Income

$34,371

Median Earnings

$809

Median Rent

$84,800

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this industrial properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Industrial property - Commercial-zoned acreage features tank storage, support buildings, and loading infrastructure.

Where is this industrial property located?

The property is located at 587 State Route 8 Oil City, PA.

What is the asking price?

The asking price for this property is $100,000.

What are key features of this property?

This property features: 4.97‑acre industrial site on State Route 8; Two large roofed storage tanks plus one large open‑topped tank; Two additional small storage tanks and three small buildings