Freestanding Office
For Sale
$599,900
590 Washington Road, Washington, PA 15301
CommercialSale, Washington, PA
Property Size5,208 SF
Lot Size2.00 Acres
Price / SF$115.19
Days on Market217
Property Features for 590 Washington Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Zoning description
C-2
Parking
25
Subdivision
South Strabane
Standard status
Active
Lot size
2.00 Acres
Taxes and HOA fees
Tax Annual Amount
15592
Building Details
Year built
1970
Listing Agency:
EXP REALTY LLC
(888) 397-7352
Listed By:
Jeff Selvoski · License #RS320797
(888) 397-7352
Added: Jan 21
Changed: Aug 26
Last Checked: Aug 26 at 5:06PM
MLS# 1737806
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.
This 5,208-square-foot freestanding office property was built in 1970 and occupies 2.0 acres in South Strabane’s C-2 general commercial district. The two-level layout can accommodate a single occupant or separate upper and lower users. The upper floor offers a blank canvas for office planning, while the lower level retains bank-related improvements, including vaults, teller stations, a drive-through window, and offices.
Access is provided from Munce Road, serving paved parking areas above and below with capacity for 25+ cars. The property has 507 feet of frontage along Rte 19 and averages more than 17,000 vehicles passing daily. Nearby commercial and civic uses include the South Strabane Municipal Building, police barracks, Washington Ford, Old Mill, Trinity Point, Wal-Mart, Sam’s Club, Strabane Square, Target, and Lowes.
Access is provided from Munce Road, serving paved parking areas above and below with capacity for 25+ cars. The property has 507 feet of frontage along Rte 19 and averages more than 17,000 vehicles passing daily. Nearby commercial and civic uses include the South Strabane Municipal Building, police barracks, Washington Ford, Old Mill, Trinity Point, Wal-Mart, Sam’s Club, Strabane Square, Target, and Lowes.
Key Highlights
- 5,208‑square‑foot freestanding office property on 2.0 acres
- 507 ft of Rte 19 frontage with access from Munce Rd
- C‑2 zoning in South Strabane’s general commercial district
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
$52,497
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
8.75%
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%
$1,049,940
$1.0M
Cap Rate 7%
$749,957
$750.0K
Cap Rate 9%
$583,300
$583.3K
Market Conditions
NOI Build-Up for 5,208 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
$78.1K $15.00/SF
− Vacancy
−$3.1K −$0.60/SF
EGI
$75.0K $14.40/SF
− OpEx
−$22.5K −$4.32/SF
NOI
$52.5K $10.08/SF
Area
Washington County, PA
Vacancy
4.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,049,940
Cap Rate 7%
$749,957
Cap Rate 9%
$583,300
Alternative Uses
Best Use
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $112,333 @ 7.0% cap · market cap 18.73%
Second Best
Office B
$950.4K
$831.6K – $1.11M
NOI $66,530 @ 7.0% cap · market cap 11.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Explore this area
Business Placement
Demographics for 15301, PA
48,963
Population
24,001
Households
2
Avg Household Size
45
Median Age
27%
College-Educated
92%
High-School Grad
122.0 sq mi
ZIP Area
401
Density / Sq Mi
$69,275
Median Household Income
$43,546
Median Earnings
$927
Median Rent
$205,800
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?
Office building - Two-level commercial office property with flexible single- or multi-occupant configuration and C-2 zoning.
Where is this office building located?
The property is located at 590 Washington Road Washington, PA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 5,208‑square‑foot freestanding office property on 2.0 acres; 507 ft of Rte 19 frontage with access from Munce Rd; C‑2 zoning in South Strabane’s general commercial district
