Single-Level Medical
For Sale
$365,000
845 Water St, Northumberland, PA 17857
Former physical therapy clinic with open interior space, reception area, and dedicated paved parking.
Property Size3,506 SF
Price / SF$104.11
Days on Market352
Property Features for 845 Water St
General Information
Standard status
Active
Size
3,506 SF
Taxes and HOA fees
Annual Taxes
$5,422
Listing Agency:
VILLAGER REALTY, INC. - NORTHUMBERLAND
(570) 274-6445
Listed By:
THEODORE T YEAGER
(570) 274-6445
Source:
Exprealty
Added: Sep 15, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:46PM
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 VILLAGER REALTY, INC. - NORTHUMBERLAND
Investment Insights
Based on property information with market context.
This 3,506-square-foot medical office property occupies a single level and includes an open area, reception office, and additional interior space. The building was previously used as a physical therapy clinic and is described as being in great condition. Paved off-street parking accommodates 16+ vehicles.
Access is available from Water Street/US 11 in Northumberland, Pennsylvania. An adjacent vacant lot is included with the property, providing additional land beside the existing building. The property information also identifies potential conversion to at least two residential units, with the adjoining lot offering space for additional units.
Access is available from Water Street/US 11 in Northumberland, Pennsylvania. An adjacent vacant lot is included with the property, providing additional land beside the existing building. The property information also identifies potential conversion to at least two residential units, with the adjoining lot offering space for additional units.
Key Highlights
- 3,506 SF medical office building on one level
- Previously operated as a physical therapy clinic
- Open area and reception office included
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
$29,187
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
8.00%
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%
$583,740
$583.7K
Cap Rate 7%
$416,957
$417.0K
Cap Rate 9%
$324,300
$324.3K
Market Conditions
NOI Build-Up for 3,506 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
$52.6K $15.00/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$48.6K $13.88/SF
− OpEx
−$19.5K −$5.55/SF
NOI
$29.2K $8.33/SF
Area
Northumberland County, PA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
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%
$583,740
Cap Rate 7%
$416,957
Cap Rate 9%
$324,300
Alternative Uses
Best Use
Office B
$544.1K
$476.1K – $634.8K
NOI $38,086 @ 7.0% cap · market cap 10.43%
Second Best
Healthcare Medical
$417.0K
$364.8K – $486.5K
NOI $29,187 @ 7.0% cap · market cap 8.00%
Theoretical Best
Warehouse
$4.27M
$3.73M – $4.98M
NOI $298,625 @ 7.0% cap · market cap 81.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17857, PA
7,743
Population
3,721
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
92%
High-School Grad
26.7 sq mi
ZIP Area
290
Density / Sq Mi
$64,306
Median Household Income
$41,109
Median Earnings
$948
Median Rent
$191,800
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?
Medical Office Space - Former physical therapy clinic with open interior space, reception area, and dedicated paved parking.
Where is this medical office space located?
The property is located at 845 Water St Northumberland, PA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 3,506 SF medical office building on one level; Previously operated as a physical therapy clinic; Open area and reception office included
