Freestanding Retail Asset For
643 E Washington St, New Castle, PA 16101
For Sale
Contact for pricing
Single-tenant, net-leased retail asset with stable income.
Property Size8,174 SF
Lot Size0.73 Acres
Price / SF$91.57
Days on Market260
Property Features for 643 E Washington St
General Information
Standard status
Size
Lot size
Property subtype
Lease Type
Investment Type
Building Details
Tenancy
Listing Agency:
Gary
Listed By:
GARY FULTHEIM
Source:
Crexi
Added: Feb 24
Changed: Nov 10
Last Checked: Nov 10 at 8:18AM
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 Gary
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Investment Insights
Based on property information with market context.
This offering features a single-tenant, net-leased retail asset occupied by Advance Auto Parts. The freestanding building, constructed in 1993, comprises approximately 8,174 square feet and is positioned on a 0.73-acre corner parcel. The property benefits from high visibility, ample parking, and easy access within a high-traffic commercial area. The location is not near industrial complexes, which supports long-term retail viability. The lease is structured as a net (NN) lease, assigning responsibility to the tenant for taxes, insurance, utilities, interior maintenance, assignment and subletting provisions, and estoppel certification. The landlord is responsible for the roof, HVAC system, parking area, and the structural components of the building, including slab and foundation. The building features decorative cinder block construction and a new roof installed in sections, completed in 2023. The property offers investors stable income from a nationally recognized automotive retailer in a strong, visible corner location.
Key Highlights
- Net‑leased to Advance Auto Parts, a nationally recognized retailer, providing stable income.
- High‑traffic corner location with exceptional visibility, ample parking, and easy access.
- Attractive 7.48% cap rate on annual rent of $57,861.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,975
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,500
$1.4M
Cap Rate 7%
$971,071
$971.1K
Cap Rate 9%
$755,278
$755.3K
Market Conditions
NOI Build-Up for 8,174 SF
Gross rent
$107.9K $13.20/SF
− Vacancy
−$10.8K −$1.32/SF
EGI
$97.1K $11.88/SF
− OpEx
−$29.1K −$3.56/SF
NOI
$68.0K $8.32/SF
Area
Lawrence County, PA
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,500
Cap Rate 7%
$971,071
Cap Rate 9%
$755,278
Alternative Uses
Best Use
Industrial
$1.16M
$1.01M – $1.35M
NOI $81,021 @ 7.0% cap · market cap 10.82%
Second Best
Retail
$971.1K
$849.7K – $1.13M
NOI $67,975 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,743 @ 7.0% cap · market cap 19.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
5k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
1,973 visits/mo
0.2 miles
American Automobile Association (AAA)
Shops & Services
1,144 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
1,110 visits/mo
0.1 miles
Advance Auto Parts
Shops & Services
859 visits/mo
0.1 miles
Demographics for 16101, PA
31,960
Population
14,755
Households
2.2
Avg Household Size
44
Median Age
18%
College-Educated
92%
High-School Grad
69.2 sq mi
ZIP Area
462
Density / Sq Mi
$50,481
Median Household Income
$36,670
Median Earnings
$706
Median Rent
$109,600
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Penske Truck Rental — 401 S Mill St, New Castle, PA 16101
Frequently Asked Questions
What type of property is this?
Automotive property - Single-tenant, net-leased retail asset with stable income.
Where is this automotive property located?
The property is located at 643 E Washington St New Castle, PA.
What is the asking price?
The asking price for this property is $748,525.
What are key features of this property?
This property features: Net‑leased to Advance Auto Parts, a nationally recognized retailer, providing stable income.; High‑traffic corner location with exceptional visibility, ample parking, and easy access.; Attractive 7.48% cap rate on annual rent of $57,861.
