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    3 Shaw Ave Lewistown, PA 17044

    • Garden apartment buildings
    • 6,906 SF
    • 0.20 lot acres
    For Sale
    View listing
    $349,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5117574
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 3 Shaw Ave

    Lot size
    0.20 lot acres
    Property size
    6,906 SF
    Property type
    Garden apartment buildings
    APN
    04 ,02-0428--,000
    APU
    4020428000

    Description

    This exceptional investment opportunity presents a seven-unit multi-family property ideally situated in the heart of Lewistown, Pennsylvania. Located within easy walking distance of the downtown area and local shops, this property offers unparalleled convenience and accessibility. The building has undergone renovations, ensuring a high-quality living experience for tenants. The unit mix comprises three three-bedroom, one-bathroom units and four one-bedroom, one-bathroom units. Six of the seven units are currently under yearly leases, providing immediate and consistent rental income. This translates to a strong, established cash flow, making this an attractive proposition for discerning investors seeking a stable and profitable addition to their portfolio. The property sits on a 0.2-acre lot. All measurements are approximate. This is a turnkey investment ready for immediate income generation. The prime location and renovated condition make this a rare find in the Lewistown market. Serious inquiries only. A 24-hour notice is required for showings. Don't miss this chance to acquire a valuable asset in a thriving community. This property is priced at $349,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $185,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $239,000
      Market price range: $140k - $534k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lewistown
    County
    Mifflin
    State
    Pennsylvania
    Longitude
    -77.5685
    Latitude
    40.601
    CBSA code
    30380
    CBSA name
    LEWISTOWN, PA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,547
    $14,200
    $38,250
    $52,450
    -
    $28,400
    $76,500
    $104,900

    Comparable in this City

    • Value Estimation
      $200,000
      2,896 SF

      356 Wayne St

      GARDEN APT, COURT APT (5+ UNITS) • 2,896 SF
      356 Wayne St, Lewistown, PA 17044-2366
      View Details
    • Value Estimation
      $200,000
      535 SF

      21 Marble St

      GARDEN APT, COURT APT (5+ UNITS) • 535 SF
      21 Marble St, Lewistown, PA 17044-1822
      View Details
    • Value Estimation
      $765,000
      124,338 SF

      196 Main St

      GARDEN APT, COURT APT (5+ UNITS) • 124,338 SF
      196 Main St, Lewistown, PA 17044-2100
      View Details
    • Value Estimation
      $180,000
      3,173 SF

      840 Walnut St

      GARDEN APT, COURT APT (5+ UNITS) • 3,173 SF
      840 Walnut St, Lewistown, PA 17044
      View Details
    • Value Estimation
      $210,000
      3,817 SF

      9 Water St

      GARDEN APT, COURT APT (5+ UNITS) • 3,817 SF
      9 Water St, Lewistown, PA 17044-2186
      View Details
    • Value Estimation
      $205,000
      4,101 SF

      449 4th St

      GARDEN APT, COURT APT (5+ UNITS) • 4,101 SF
      449 4th St, Lewistown, PA 17044-2000
      View Details

    Similar Nearby for Sale

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      Lewistown Multi-Family Investment

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      Take 5 Oil Change Investment

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    • $79,900
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      Historic Lewistown Commercial Building

      Spacious building, ideal for adaptive reuse.
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      Lewistown Office Building - Great Investment

      Prime Lewistown office building, three suites, high visibility.
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    • Contact for pricing

      Land Available on West Sixth

      Land available, can be connected to public sewer and water.
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      View Details
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    3 Shaw Ave
    Lewistown, PA 17044
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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
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