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    3135 Wilmington Rd New Castle, PA 16105

    Sponsored
    For Sale
    $899,000

    7,000 SF Medical Office Building, PA

    Property size:
    7,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 7,000 square foot medical office building, constructed in 2006, is situated on a 0.6-acre lot in New Castle, Pennsylvania's Neshannock Township. Conveniently located less than three miles from Jameson Hospital, this two-story, all-brick building offers ample space and modern amenities. The upper floor, ideal for medical practices, boasts approximately 4,000 square feet, including a spacious reception area, seven exam rooms, three private offices, three ADA-compliant restrooms, and a nurses' station. A separate rear entrance enhances patient privacy and convenience. The lower level comprises nearly 3,000 square feet of versatile space, featuring a large open area, three additional offices, a sizable conference room, storage, and two restrooms. The building benefits from separate utilities and HVAC systems, a superior pre-cast concrete basement with soundproofing insulation, and pre-engineered wood trusses supporting the roof. Twenty-eight paved parking spaces are available, with convenient access from a side road leading to a divided highway. The property is zoned commercial, allowing for diverse usage possibilities. Asking price is $899,000.

    Property Features for 3135 Wilmington Rd

    General Information

    Property type
    Medical offices
    Square Feet
    7,000 SF
    Lot Size
    26,136 SF

    Building Details

    Year Built
    2006
    Stories
    2

    We can help!

    Listing Contact
    Beth Schneider
    Beth Schneider

    Learn more

    Property Insight Report

    HighLights

    • 7,000 SF medical office building on a 0.6‑acre lot in Neshannock Township, PA.
    • Two‑story, all‑brick building constructed in 2006, less than three miles from Jameson Hospital.
    • Upper floor features ~4,000 SF with reception area, seven exam rooms, three private offices, three ADA restrooms, and nurses' station; lower floor offers ~3,000 SF of flexible space.
    • 28 paved parking spaces with convenient highway access.
    • Asking price: $899,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walter D. Bender, ... Pediatrician Dr. George Antonescu, ... Pediatrician Antonescu Doina MD Pediatrician ABC Pediatric Care Pediatrician Sherwat Abdelrahman Pediatrician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    Lawrence
    State
    Pennsylvania
    Longitude
    -80.3572983
    Latitude
    41.0499711

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    FAQs

    What type of property is this?
    Medical office - 7,000 SF Medical Office Building, PA
    Where is this medical office located?
    The property is located at 3135 Wilmington Rd New Castle, PA.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: 7,000 SF medical office building on a 0.6-acre lot in Neshannock Township, PA.; Two-story, all-brick building constructed in 2006, less than three miles from Jameson Hospital.; Upper floor features ~4,000 SF with reception area, seven exam rooms, three private offices, three ADA restrooms, and nurses' station; lower floor offers ~3,000 SF of flexible space.
    Request Owner's contact information
    3135 Wilmington Rd New Castle, PA 16105
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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
    3135 Wilmington Rd New Castle, PA 16105
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    We can help!
    Listing Contact
    Beth Schneider
    Beth Schneider
    Real Estate License ID: 348983
    Learn more
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