Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2602 Wilmington Rd New Castle, PA 16105

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Three medical suites available in close proximity to amenities.

    Type:Office
    Property size:
    1,350 SF
    Added:
    Jul 18, 2024
    Days on Market:
    642
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 2602 Wilmington Rd

    General Information

    Standard status
    Active
    Size
    1,350 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Michael Connor

    Listing agent Michael Connor License #PA RS330446

    Listing office Hanna Commercial Real Estate - Pittsburgh

    Listing date Jul 18, 2024

    Source Crexi

    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 Hanna Commercial Real Estate - Pittsburgh

    Overview

    Medical Suites For Sale

    Three medical suites are available for sale. The suites are second generation medical spaces. Suite 208 offers 1,152 square feet, Suite 207 provides 1,184 square feet, and Suite 206 features 1,350 square feet. The property is located in close proximity to medical users and retail amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jameson Radiation Oncology Medical Clinic Victain Michelle S ... Physician Samantha Walsh Physician Jeremy Nau Physician Mc Quiston Marlene Employment Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    Lawrence
    State
    Pennsylvania
    Longitude
    -80.3540309
    Latitude
    41.032835

    Nearby Similar for Sale

    • $875,000

      Neshannock Township Office For Sale

      Two-story office building in Neshannock Township, near Jameson Hospital.
      3135 Wilmington Rd., Neshannock Twp, PA 16105
      View Details
    • $299,999

      Versatile Commercial Building, High Visibility

      Highly visible commercial building with flexible layout and parking.
      229 N Jefferson St, New Castle, PA 16101
      View Details
    • $699,000

      Shenango Township Warehouse Commercial Facility

      Move-in-ready commercial building in a prime Shenango Township location.
      3014 New Butler Rd, Shenango Twp, PA 16101
      View Details
    • $799,000

      Turnkey Beer Distributor Opportunity

      Modern 2,500 SF steel building on high-traffic roadway.
      1814 W State Street, Union Twp, PA 16101
      View Details
    • $450,000

      Established Bar & Restaurant For Sale

      Long-standing bar and restaurant in New Castle, Pennsylvania.
      827 Addis St, New Castle, PA 16101
      View Details
    • $400,000

      High-Visibility Corner Lot on Wilmington Road

      1.59 acre corner lot with high traffic and redevelopment potential.
      3015 Wilmington Road, Neshannock Twp, PA 16105
      View Details
    • $1,400,000

      Two-Story Office Building For Sale

      16,000 SF office building with 36 private offices.
      2599 Wilmington Road, Neshannock Twp, PA 16105
      View Details
    • $145,000

      Versatile Commercial Building with Parking

      4866 SF commercial building on 0.55-acre lot with ample parking.
      2411 Adella Street, Shenango Twp, PA 16102
      View Details
    • $169,900

      Renovated Commercial Space in New Castle

      Turnkey commercial space with high visibility and modern updates.
      107 E North Street, New Castle, PA 16101
      View Details
    • $3,000

      Neshannock Twp Office For Sale

      Commercial rental opportunity in prime location off Route 18.
      3120 Wilmington Rd, Neshannock Twp, PA 16105
      View Details
    • $79,900

      Updated Commercial Space, High Visibility

      Updated commercial space in downtown location, ready for occupancy.
      106 N Mercer Street, New Castle, PA 16101
      View Details
    • $1,350,000

      Spacious Warehouse with Office Space

      32,000 sq ft warehouse with offices and loading dock.
      657 Northgate Circle, Neshannock Twp, PA 16105
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Three medical suites available in close proximity to amenities.
    Where is this medical office space located?
    The property is located at 2602 Wilmington Rd New Castle, PA.
    What are key features of this property?
    This property features: Three medical suites available for one price ($225,000).; Suites are available for individual sale.; All suites are 2nd generation medical spaces.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Connor
    Real Estate License ID: PA RS330446
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!