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    201 Wheeling St Washington, PA 15301

    For Sale
    $14,300,000

    10-Building Office Portfolio, 100% Leased

    Property size:
    155,705 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a 10-building, 155,705-square-foot office portfolio located throughout Western and Central Pennsylvania. Currently 100% occupied, the portfolio boasts a weighted average lease term of 32 years, providing significant long-term stability. The properties are strategically situated in key locations, including Uniontown, Meadville, Harrisburg, Erie, Woodland, Girard, Lewistown, and Washington, Pennsylvania. Tenants consist of various highly creditworthy Pennsylvania State Agencies, including the Department of Human Services, Department of Revenue, Department of Labor & Industry, and Pennsylvania State Police, all under lease agreements with the Pennsylvania Department of General Services (DGS). The DGS, an independent Commonwealth agency, demonstrates a consistent track record of lease renewals, ensuring sustained income. The portfolio is offered at $91.84 per square foot, representing a compelling value proposition below replacement cost. With a strong net operating income (NOI) of $1,488,431 and a 10.41% cap rate, this stabilized investment offers substantial cash flow and significant potential for future appreciation. The asking price for this exceptional portfolio is $14,300,000. The tenant, rated AA- by Fitch, provides exceptional creditworthiness and minimizes risk. This portfolio represents a rare opportunity to acquire a high-quality, diversified, and long-term stable income-producing asset.

    Property Features for 201 Wheeling St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    155,705 SF

    Building Details

    Buildings
    10

    HighLights

    • 100% leased, 10‑building, 155,705‑square‑foot office portfolio in Western and Central Pennsylvania.
    • AA- rated tenant (Fitch) – Pennsylvania Department of General Services (DGS), comprised of various state agencies.
    • 32‑year weighted average lease term provides long‑term stability.
    • $92/SF offering price, below replacement cost.
    • Strong cash flow with $1,488,431 NOI and 10.41% cap rate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vocational Rehabilitation Social Services Organization Washington County Assistance ... Social Services Organization

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Washington
    State
    Pennsylvania
    Longitude
    -80.2512553
    Latitude
    40.1687699

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    FAQs

    What type of property is this?
    Office Property / Space - 10-Building Office Portfolio, 100% Leased
    Where is this office property / space located?
    The property is located at 201 Wheeling St Washington, PA.
    What is the asking price?
    The asking price for this property is $14,300,000.
    What are key features of this property?
    This property features: 100% leased, 10-building, 155,705-square-foot office portfolio in Western and Central Pennsylvania.; AA- rated tenant (Fitch) – Pennsylvania Department of General Services (DGS), comprised of various state agencies.; 32-year weighted average lease term provides long-term stability.
    (412) 394-9804
    Request Owner's contact information
    201 Wheeling St Washington, PA 15301
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    Washington, PA 15301
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    Realmo Value Estimation

    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.

    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.

    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
    201 Wheeling St Washington, PA 15301
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