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    Pa-21 Waynesburg, PA 153700

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    For Lease
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    Waynesburg, PA: Prime Retail Space Available

    Lot size:
    120,000 SF

    Property Features for 0 Pa-21

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    120,000 SF
    Class
    B

    Building Details

    Year Renovated
    2022
    Buildings
    6
    Stories
    1

    Spaces For Lease

    at 0 Pa-21, Waynesburg, PA 153700 Contact us

    We can help!

    Listing Contact
    Justin Bartholomew

    Listing Agency: Pennmark Management Company Listing Agent: Justin Bartholomew

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Greene Plaza, a Class B retail center in Waynesburg, Pennsylvania, offers exceptional opportunities for businesses seeking high-visibility locations. This 120,000 square foot property, comprised of six single-story buildings, features 22 suites and is situated on PA-21, providing convenient access and high traffic exposure. Currently, 2,000 square feet of retail space is available, with individual suites ranging from 2,000 to 4,427 square feet, ideal for a variety of retail or restaurant uses. The property underwent extensive renovations in 2022, including landscaping improvements, enhanced building facades, and a new parking lot. The center's location on Route 21 and Route 79 ensures strong visibility and accessibility for customers. The property boasts multiple tenancy options and is situated in Greene County, PA, zip code 15370. No elevators are present in the single-story buildings. This is a fully leased center, with available space representing a prime opportunity for expansion or new business establishment. The property's recent upgrades and strategic location make it an attractive investment for businesses seeking a thriving retail environment in a well-established community. The available space presents a unique chance to establish a presence in a revitalized shopping center with excellent visibility and convenient access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Waynesburg
    County
    Greene
    State
    Pennsylvania
    Longitude
    -80.146474293795
    Latitude
    39.898524562028

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    FAQs

    What type of property is this?
    Retail property - Waynesburg, PA: Prime Retail Space Available
    Where is this retail property located?
    The property is located at Pa-21 Waynesburg, PA.
    What are key features of this property?
    This property features: Fully leased Class B retail center totaling 120,000 square feet.; High-visibility location on PA-21 (Route 21) and near Route 79, offering excellent traffic exposure.; Grocery-anchored center with 2,000 square feet of available retail space in suites ranging from 2,000 to 4,427 square feet.
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    Pa-21 Waynesburg, PA 153700
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    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
    Pa-21 Waynesburg, PA 153700
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    Contact for Pricing
    Please call us for current price
    and status of this listing
    Justin Bartholomew
    Real Estate License ID: RS350135
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