Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Pennsylvania State Agency Portfolio Title is generated by Realmo AI

    201 W Wheeling St, Washington, PA 15301

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

    Strategically positioned 9-building portfolio 100% leased to Commonwealth of Pennsylvania.

    Type:Office
    Property size:
    147,427 SF
    Price / SF:
    $78/SF
    Added:
    Aug 1, 2023
    Days on Market:
    1026
    Last Refresh:
    May 12 at 10:38 pm

    Property Features for 201 W Wheeling St

    General Information

    Standard status
    Active
    Size
    147,427 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Kyle Prawdzik
    Kyle Prawdzik

    Listing agent Kyle Prawdzik License #PA RS305573

    Listing office CBRE - Pittsburgh

    Listing date Aug 1, 2023

    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 CBRE - Pittsburgh

    HighLights

    • 100% leased to the Commonwealth of Pennsylvania, ensuring stable income.
    • Strategically located portfolio of 9 buildings throughout Western and Central Pennsylvania.
    • In‑place weighted average length of tenancy of 34.4 years, demonstrating long‑term tenant commitment.
    • Leased to essential Pennsylvania state agencies.
    • Total of 147,427 SF across the portfolio.
    • Pennsylvania Department of General Services (DGS) typically renews leases.

    Overview

    The Pennsylvania State Agency Portfolio features nine strategically positioned buildings located throughout Western and Central Pennsylvania. The portfolio encompasses a total of 147,427 square feet and is fully leased to the Commonwealth of Pennsylvania, through the Pennsylvania Department of General Services (DGS). Tenants include the Department of Human Services, Department of Revenue, Department of Labor & Industry, and Pennsylvania State Police. The Pennsylvania Department of General Services, established in 1975, supports the business operations of all government agencies of the Commonwealth of Pennsylvania. The DGS demonstrates long-term commitment to established locations for their agencies and frequently renews leases. The properties are located in cities including Uniontown, Meadville, Harrisburg, Erie, Woodland, Girard, Lewistown, and Washington. The tenants continue to renew their leases and show commitment to these locations, with an in-place weighted average length of tenancy of 34.4 years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vocational Rehabilitation Social Service Agency Washington County Assistance ... Social Service 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
    Washington
    County
    Washington
    State
    Pennsylvania
    Longitude
    -80.239128
    Latitude
    40.170302

    Nearby Similar for Sale

    • $397,000

      Auto Business Opportunity, Washington, PA

      Established auto body shop on a high-visibility corner lot.
      140 Highland Ave, City of Washington, PA 15301
      View Details
    • $999,900
      20,000 SF

      Turn-Key Entertainment Venue For Sale

      Premier entertainment and event property in revitalizing Washington business district.
      19 N Main St, City of Washington, PA 15301
      View Details
    • $999,900

      Turn-Key Mixed-Use Commercial Property

      Two-building commercial property with bar, restaurant, apartments, and retail.
      88 N Main St, City of Washington, PA 15301
      View Details
    • $335,000

      South Strabane Commercial Opportunity

      Commercial property in Washington County's growth corridor.
      800 Washington Road, South Strabane, PA 15301
      View Details
    • $160,000

      Versatile Office in Central District

      Commercial property in Washington's Central Business District, ideal for offices.
      27 S College St, Washington, PA 15301
      View Details
    • $199,900

      Washington, PA Fourplex with Garage

      Value-add fourplex with below-market rents and separate utilities.
      306 E Maiden St, City of Washington, PA 15301
      View Details
    • $199,900

      Fourplex with Below-Market Rents

      Value-add fourplex with separate utilities and multiple income streams.
      306 E Maiden St, City of Washington, PA 15301
      View Details
    • $219,900

      Fourplex Near Downtown Washington

      Four-unit building with long-term tenants near downtown Washington.
      301 W Maiden St, City of Washington, PA 15301
      View Details
    • $895,000

      Prime Commercial Property Near Highway

      1.5-acre commercial property with high visibility and versatile zoning.
      817 Wilmington St (Rt 70 Jessop exit), Canton Twp, PA 15301
      View Details
    • $599,900

      Mixed-Use Property on Henderson Avenue

      Commercial building with garage, residential rental, and ample parking.
      1120 Henderson Ave, Canton Twp, PA 15301
      View Details
    • $385,000

      Washington Fabrication Facility with Cranes

      Fabrication facility with cranes, office, and laydown space.
      295 Meadow Ave, City of Washington, PA 15301
      View Details
    • $1,500,000

      Chartiers Farm with Scenic Views

      74.3-acre farm property in Chartiers Township, Washington County, PA.
      560 Old Hickory Ridge Rd, Chartiers, PA 15301
      View Details

    FAQs

    What type of property is this?
    Office building - Strategically positioned 9-building portfolio 100% leased to Commonwealth of Pennsylvania.
    Where is this office building located?
    The property is located at 201 W Wheeling St Washington, PA.
    What is the asking price?
    The asking price for this property is $11,636,000.
    What are key features of this property?
    This property features: 100% leased to the Commonwealth of Pennsylvania, ensuring stable income.; Strategically located portfolio of 9 buildings throughout Western and Central Pennsylvania.; **In‑place weighted average length of tenancy of 34.4 years**, demonstrating long‑term tenant commitment.
    (412) 995-3810 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kyle Prawdzik
    Kyle Prawdzik
    Real Estate License ID: PA RS305573
    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

    Thank You for Inquiry
    201 W Wheeling St, Washington, PA 15301
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!