Industrial Property with Two Shop
For Sale
Contact for pricing
115 Richmond St, Uniontown, PA 15401
Two shop buildings on 17.24 acres in North Union.
Property Size8,800 SF
Lot Size17.24 Acres
Price / SF$112.16
Days on Market792
Property Features for 115 Richmond St
General Information
Standard status
Active
Size
8,800 SF
Class
C
Lot size
17.24 Acres
Property subtype
Industrial
Zoning
Light Industrial
Investment Type
Owner/User
Building Details
Year Built
1970
Year Renovated
2007
Buildings
2
Stories
1
Listing Agency:
Pennsylvania Commercial Real Estate Inc
(412) 391-3500
Listed By:
Scott Long · License #PA AB069387
Source:
Crexi
Added: Jun 12, 2024
Changed: Aug 12
Last Checked: Jul 16 at 8:36AM
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 Pennsylvania Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
This commercial real estate offering features two shop buildings situated on 17.24 level acres in North Union Township. Building #1 comprises 5,500 square feet, including 1,600 square feet of office space and is equipped with 3 drive-in doors. Building #2 provides 3,200 square feet of warehouse space and includes 2 drive-in doors. The property is adjacent to the Southwest Pennsylvania Railroad.
Key Highlights
- Two shop buildings totaling 8,700sf of combined space
- Large 17.24 acre level lot
- Building #1: 5,500sf with 1,600sf office space and 3 drive‑in doors
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
$58,559
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
5.93%
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%
$1,171,180
$1.2M
Cap Rate 7%
$836,557
$836.6K
Cap Rate 9%
$650,656
$650.7K
Market Conditions
NOI Build-Up for 8,800 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
$73.9K $8.40/SF
− Vacancy
−$5.0K −$0.57/SF
EGI
$68.9K $7.83/SF
− OpEx
−$10.3K −$1.17/SF
NOI
$58.6K $6.65/SF
Area
Fayette County, PA
Vacancy
6.80%
Lease Rate
$8.40 /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%
$1,171,180
Cap Rate 7%
$836,557
Cap Rate 9%
$650,656
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.87M
NOI $112,416 @ 7.0% cap · market cap 11.39%
Second Best
Warehouse
$836.6K
$732.0K – $976.0K
NOI $58,559 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $156,905 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 15401, PA
30,619
Population
15,598
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
91%
High-School Grad
55.4 sq mi
ZIP Area
553
Density / Sq Mi
$52,051
Median Household Income
$40,959
Median Earnings
$761
Median Rent
$151,600
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?
Warehouse - Two shop buildings on 17.24 acres in North Union.
Where is this warehouse located?
The property is located at 115 Richmond St Uniontown, PA.
What is the asking price?
The asking price for this property is $987,000.
What are key features of this property?
This property features: Two shop buildings totaling 8,700sf of combined space; Large 17.24 acre level lot; Building #1: 5,500sf with 1,600sf office space and **3 drive‑in doors**
