121 Ml St New Castle, PA 16101-3704
Property profile & analytics
121 Ml St New Castle, PA 16101-3704
- Office buildings
- 8,024 SF
- 0.13 lot acres
Property ID
US73-3470176
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.
Location Intelligence
Current Use by Public Records
- Environmental Protection Department / Social Service Agency
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 Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $555,000
- ML approach
- $520,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $438,000
Market price range: $301k - $1.06M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $340,000 Current use
- RESTAURANT
- $740,000 Change: +118% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $460,000 Change: +35% Conversion: Easy
- RETAIL STORES
- $390,000 Change: +15% Conversion: Moderate
- WAREHOUSE, STORAGE
- $370,000 Change: +9% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
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
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
2023
$8,196
$25,200
$183,900
$209,100
-
$25,200
$183,900
$209,100
