415 3Rd St Williamsport, PA 17701
- Warehouses
- 60,000 SF
- 0.91 lot acres
Current Use by Public Records
- SupplySource Inc / Office Furniture Store
- Indoor Sky / Window Treatment Store
Property Details for 415 3Rd St
- Year built
- 1928
- Lot size
- 0.91 lot acres
- Property size
- 60,000 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 60,000-square-foot Class A industrial flex warehouse in Williamsport, Pennsylvania. The property, situated on a 0.91-acre lot at 415 W 3rd St, boasts a prime location less than one mile from I-180 and US-15, offering easy access to major transportation routes. The building, constructed in 1928 and featuring three stories, is currently 100% occupied by SupplySource, the largest contract office furniture supplier in Pennsylvania, under a new 10-year absolute NNN lease with 3% annual rent bumps and three five-year renewal options. The lease provides predictable cash flow and minimal landlord responsibilities. The property includes two loading docks, fourteen parking spaces, and a substantial 8,000-square-foot premium office build-out. With a current NOI of $320,000 and a pro-forma NOI of $329,600, the property offers a compelling 7.62% cap rate and a pro-forma cap rate of 7.85%. The asking price is $4,200,000, translating to $70 per square foot. The property is zoned 4 COC. This single-tenant, sale-leaseback investment provides a secure and attractive return for investors seeking a stable, long-term income stream in a strategically located Pennsylvania market. The tenant's commitment is further evidenced by recent significant improvements to the property. The property's proximity to Wilkes-Barre, Harrisburg, and Philadelphia enhances its long-term value and appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Williamsport
- County
- Lycoming
- State
- Pennsylvania
- Longitude
- -77.0092
- Latitude
- 41.2382
