121 Ml St New Castle, PA 16101-3704
- Office buildings
- 8,024 SF
- 0.13 lot acres
Current Use by Public Records
- Environmental Protection Department / Environmental Health Service
Property Details for 121 Ml St
- Lot size
- 0.13 lot acres
- Property size
- 8,024 SF
- Zone code
- C-2
- Property type
- Office buildings
- APN
- 02-044500
- APU
- 2044500
Description
This 6,670 square foot vacant storefront in downtown New Castle, PA, presents a compelling investment opportunity. Currently priced at $946,990, it boasts a strong 10% cap rate and a substantial NOI of $94,699. The property enjoys a prime location near key amenities such as Dunkin' Donuts, the public library, and the police station. Previously occupied by the Pennsylvania Department of Environmental Protection for 28 years (with a 2-year lease extension), this location includes a specialized on-site laboratory. The low price per square foot of $141 significantly undercuts replacement cost. A triple-net backup lease provides added security. This established presence and specialized facilities make this a low-risk, high-reward investment. The property is situated at 121 N Mill St, New Castle, PA 16101. The modified lease structure offers flexibility for future tenants. This is an exceptional opportunity to acquire a well-located, income-producing retail property in a thriving downtown area. The property's history of long-term tenancy and the inclusion of specialized laboratory equipment further enhance its investment appeal. The strong NOI and cap rate make this a highly attractive proposition for investors seeking a stable and profitable addition to their portfolio. Don't miss this chance to secure a prime retail space in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $555,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $490,000
- 6.5%
- $485,000
- 7%
- $495,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $430,000
- Geo Method
- $405,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $480,000
- Retail
- $425,000
- Mixed-Use
- $455,000
- Hospitality
- $400,000
- Educational
- $395,000
- Residential Income
- $405,000
- Energy
- $420,000
- Income-Based Land
- $480,000
- Food Service
- $515,000
Location Insight
- Map
- Local Demand
- City
- New Castle
- County
- Lawrence
- State
- Pennsylvania
- Longitude
- -80.3447
- Latitude
- 41.0019
- CBSA code
- 35260
- CBSA name
- NEW CASTLE, PA MICROPOLITAN STATISTICAL AREA
