Flex Space with Warehouse
For Sale
$480,000
70 South St, Washington, PA 15301
CommercialSale, Washington, PA
Property Size5,666 SF
Lot Size0.50 Acres
Price / SF$84.72
Days on Market47
Property Features for 70 South St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Devel
Zoning description
Devel
Parking
12
Directions
South Main St to Left on South St Property on the right at end of the street.
Subdivision
City of Washington
Standard status
Active
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
11878
Building Details
Year built
1950
Listing Agency:
Keller Williams Realty
(724) 941-9400
Listed By:
Doug Burig · License #AB061392L
(724) 941-9400
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 22 at 10:06AM
MLS# 1763541
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 flex-style property offers a combined office and warehouse/garage configuration designed for professional and light industrial activity. The space includes approximately 4,016 square feet of office area with nine private offices, two conference rooms, and two restrooms. An additional 1,650 square feet of warehouse/garage space supports day-to-day operations that need both work areas and functional storage or workspace.
The property sits on a development-zoned site with approximately 135 feet of road frontage, providing visibility and straightforward access for employees and visitors. Parking is supported by 12 paved off-street spaces, along with additional on-street parking.
With its dedicated office layout and adjoining warehouse/garage area, the building can accommodate tenants looking for a single location to manage customer-facing work while maintaining operational space. The development zoning also provides flexibility for future business uses, subject to applicable approvals.
The property sits on a development-zoned site with approximately 135 feet of road frontage, providing visibility and straightforward access for employees and visitors. Parking is supported by 12 paved off-street spaces, along with additional on-street parking.
With its dedicated office layout and adjoining warehouse/garage area, the building can accommodate tenants looking for a single location to manage customer-facing work while maintaining operational space. The development zoning also provides flexibility for future business uses, subject to applicable approvals.
Key Highlights
- Approximately 5,666 SF commercial building with 4,016 SF office space and 1,650 SF warehouse/garage space
- Office layout includes nine private offices, two conference rooms, and two restrooms
- Spacious warehouse/garage space for professional, commercial, or light industrial uses
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
$42,552
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
8.87%
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%
$851,040
$851.0K
Cap Rate 7%
$607,886
$607.9K
Cap Rate 9%
$472,800
$472.8K
Market Conditions
NOI Build-Up for 5,666 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
$53.7K $9.48/SF
− Vacancy
−$3.7K −$0.64/SF
EGI
$50.1K $8.84/SF
− OpEx
−$7.5K −$1.33/SF
NOI
$42.6K $7.51/SF
Area
Washington County, PA
Vacancy
6.80%
Lease Rate
$9.48 /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%
$851,040
Cap Rate 7%
$607,886
Cap Rate 9%
$472,800
Alternative Uses
Best Use
Office B
$1.03M
$904.8K – $1.21M
NOI $72,381 @ 7.0% cap · market cap 15.08%
Second Best
Warehouse
$607.9K
$531.9K – $709.2K
NOI $42,552 @ 7.0% cap · market cap 8.87%
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,212 @ 7.0% cap · market cap 25.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Location Intelligence
Trade Area within ½ mile
1,206
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Well-appointed office and warehouse/garage layout with ample parking and significant road frontage on a development-zoned site.
Where is this flex space located?
The property is located at 70 South St Washington, PA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Approximately 5,666 SF commercial building with 4,016 SF office space and 1,650 SF warehouse/garage space; Office layout includes nine private offices, two conference rooms, and two restrooms; Spacious warehouse/garage space for professional, commercial, or light industrial uses
