Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1553 Woodward Drive Ext Greensburg, PA 15601

    Sponsored
    For Sale
    $570,000

    Two commercial lots, prime location, Hempfield Township.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional offering presents a rare opportunity to acquire two contiguous commercial lots totaling approximately 8.61 acres in desirable Hempfield Township, Westmoreland County, Pennsylvania. Located at 1553 Woodward Drive Ext., Greensburg, PA 15601, this property is zoned for industrial use, providing significant flexibility for a variety of development projects. The land is comprised of two parcels, identified as Parcel IDs 50-21-00-0-009 and 50-21-00-0-010. Existing easements ensure convenient access to utilities, simplifying the development process. The asking price for this expansive property is $570,000. Given its size, zoning, and convenient location, this property represents a compelling investment opportunity for developers and businesses seeking a strategic location in a thriving area. The property's versatility makes it suitable for a wide range of industrial uses, offering substantial potential for future growth and return on investment. Interested parties are encouraged to act quickly, as opportunities of this caliber are seldom available.

    Property Features for 1553 Woodward Drive Ext

    General Information

    Property type
    Mixed-use properties
    Lot Size
    375,052 SF

    HighLights

    • Two contiguous commercial lots totaling 8.61 acres in Hempfield Township, Westmoreland County, PA.
    • Parcel IDs: 50‑21‑00‑0‑009 & 50‑21‑00‑0‑010.
    • Zoned for industrial use with existing utility easements.
    • Asking price: $570,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensburg
    County
    Westmoreland
    State
    Pennsylvania
    Longitude
    -79.5678117
    Latitude
    40.2809169

    Nearby Similar for Sale

    • $150,000
      0.40 Acres

      Southwest Greensburg Church For Sale

      Charming church with redevelopment potential in a quiet neighborhood.
      533 Sidney St, Greensburg, PA 15601
      View Details
    • New
      $175,000
      6,500 SF

      Versatile Warehouse in Greensburg, PA

      Approximately 6,500 sq. ft. warehouse with flexible use options.
      128 N Washington Ave, Greensburg, PA 15601
      View Details
    • $210,000
      0.06 Acres

      Downtown Greensburg Office with Parking

      Prime office space in downtown Greensburg with parking and updated systems.
      439 S Maple Ave, Greensburg, PA 15601
      View Details
    • New
      $235,000
      Pending

      Greensburg Fourplex Near Seton Hill

      Four-unit apartment building near Seton Hill University and downtown Greensburg.
      302 N Pennsylvania Ave, Greensburg, PA 15601
      View Details
    • Contact for pricing

      Class A Office Building Greensburg

      Premier office building on 23.86 acres in Greensburg, PA.
      220 Megawatt Ln, Greensburg, PA 15601
      View Details
    • $224,900

      Greensburg Duplex with Detached Garage

      Solid brick duplex with detached garage, ideal for investors.
      427 E Pittsburgh St, Greensburg, PA 15601
      View Details
    • $800,000

      Greensburg Bar with Rental Units

      Turnkey bar with rental units in downtown Greensburg.
      19 N Maple Ave, Greensburg, PA 15601
      View Details
    • $344,999
      6,000 SF

      Greensburg Retail Building with Loading

      6,000 SF retail building with high traffic and parking.
      508 New Alexandria Rd, Greensburg, PA 15601
      View Details
    • New
      $370,000
      1,990 SF

      Restaurant with Apartment and Parking

      Equipped restaurant with apartment, outdoor seating, and ample parking.
      1017 Highland Ave, Greensburg, PA 15601
      View Details
    • Contact for pricing
      38,000 SF

      Greensburg Retail and Office Space

      Retail and office spaces with ample parking and high visibility.
      1075 South Main St, Greensburg, PA 15601
      View Details
    • $3,250,000
      16,717 SF

      Greensburg Office Building with Gym

      Class A office building with gym, conference rooms, and green space.
      4977 State Route 30, Greensburg, PA 15601
      View Details
    • $450,000

      All-Brick Single-Level Home

      Single-level home with modern updates and desirable features.
      116 Reserve Rd, Greensburg, PA 15601
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two commercial lots, prime location, Hempfield Township.
    Where is this mixed-use property located?
    The property is located at 1553 Woodward Drive Ext Greensburg, PA.
    What is the asking price?
    The asking price for this property is $570,000.
    What are key features of this property?
    This property features: Two contiguous commercial lots totaling 8.61 acres in Hempfield Township, Westmoreland County, PA.; Parcel IDs: 50-21-00-0-009 & 50-21-00-0-010.; Zoned for industrial use with existing utility easements.
    Request Owner's contact information
    1553 Woodward Drive Ext Greensburg, PA 15601
    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.
    1553 Woodward Drive Ext
    Greensburg, PA 15601
    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
    1553 Woodward Drive Ext Greensburg, PA 15601
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.