415 3Rd St Williamsport, PA 17701

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.

Location Insight

City

Williamsport

County

Lycoming

State

Pennsylvania

Longitude

-77.0092

Latitude

41.2382