Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    187 Northpointe Blvd Freeport, PA 16229

    • Industrial properties
    • 34,415 SF
    • 8.54 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3245962
    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

    • Allegheny Digital / Computer Security Service
    • NanoVision Diagnostics / Medical Clinic
    • ADEX Medical Staffing LLC - Pittsburgh / Employment Agency
    • Trio Motion Technology / Manufacturer
    • Steve Gilliland / Entertainer

    Property Details for 187 Northpointe Blvd

    Year built
    2013
    Lot size
    8.54 lot acres
    Property size
    34,415 SF
    Property type
    Industrial properties
    APN
    44-0-069026
    APU
    440069026

    Description

    This exceptional coworking opportunity is located at 187 Northpointe Blvd in Freeport, Pennsylvania, within the RIDC Armstrong Innovation Park. The property offers four available spaces ranging from 1,045 to 8,841 square feet, ideal for businesses of various sizes. The building, constructed in 2011, features a blend of brick, stone, and metal, showcasing a modern aesthetic. Amenities include a passenger elevator servicing both the one and two-story sections, along with shared men's and women's restrooms, and convenient common kitchen and lounge areas on both floors. The building boasts an efficient geothermal HVAC system, included in the rental cost, ensuring comfortable year-round temperatures. Power is provided by a robust 1600 Amp system (208/120v, 3p, 4w). Ample parking is available with 114 spaces (3.64 per 1,000 square feet). Security features include keyfob access and exterior video monitoring. Enjoy abundant natural light throughout the building and access to outdoor patio spaces offering scenic views of Armstrong County. This property is situated in Armstrong County, PA, zip code 16229.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,111,000
      Market price range: $732k - $2.11M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,285,000
      Current use
      AUTO REPAIR, GARAGE
      $3,135,000
      Change: +145% Conversion: Easy
      OFFICE BUILDING
      $2,885,000
      Change: +125% Conversion: Difficult
      RETAIL STORES
      $2,790,000
      Change: +117% Conversion: Moderate
      RESTAURANT
      $2,625,000
      Change: +105% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,460,000
      Change: +92% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,015,000
      Change: +57% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,475,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Armstrong
    State
    Pennsylvania
    Longitude
    -79.6358
    Latitude
    40.7581
    CBSA code
    38300
    CBSA name
    PITTSBURGH, PA METROPOLITAN 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
    $101,917
    $591,050
    $520,250
    $1,111,300
    -
    $1,688,720
    $1,486,420
    $3,175,140

    Comparable in this City

    • Value Estimation
      $590,000
      9,000 SF

      134 Armstrong Dr

      INDUSTRIAL (GENERAL) • 9,000 SF
      134 Armstrong Dr, Freeport, PA 16229-2616
      View Details
    • Value Estimation by Request
      7.40 Acres

      2301 Silverville Rd

      INDUSTRIAL (GENERAL) • 7.40 Acres
      2301 Silverville Rd, Freeport, PA 16229-1630
      View Details
    • Value Estimation by Request
      2,544 SF

      119 Sipes Rd

      INDUSTRIAL (GENERAL) • 2,544 SF
      119 Sipes Rd, Freeport, PA 16229-1941
      View Details
    • Value Estimation
      $755,000
      16,843 SF

      202 Armstrong Dr

      INDUSTRIAL (GENERAL) • 16,843 SF
      202 Armstrong Dr, Freeport, PA 16229-2620
      View Details
    • Value Estimation
      $1,365,000
      23,400 SF

      156 Armstrong Dr

      INDUSTRIAL (GENERAL) • 23,400 SF
      156 Armstrong Dr, Freeport, PA 16229-2616
      View Details
    • Value Estimation
      $2,755,000
      49,033 SF

      161 Armstrong Dr, Unit 165

      INDUSTRIAL (GENERAL) • 49,033 SF
      161 Armstrong Dr, Freeport, PA 16229-2615
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.96 Acres

      187 Northpointe Blvd

      Distribution properties • 30,000 SF
      187 Northpointe Blvd, Freeport, PA 16229
      View Details
    • Contact for pricing
      530.00 Acres

      Freeport, PA: 530 Acres Commercial Land

      Massive Commercial Land Tract - Ideal for Development
      0 Northpointe Blvd, Freeport, PA 16229
      View Details
    • $60,000

      Armstrong Innovation Park Land Available

      Land available in RIDC Armstrong Innovation Park.
      222 Northpointe Blvd, Freeport, PA 16229
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,294 SF

      Versatile Flex/Office Space Available

      Office and flex spaces for lease near Pittsburgh.
      187 Northpointe Blvd, Freeport, PA 16229
      View Details
    • Contact for pricing

      Armstrong Innovation Park Land Available

      Land for lease in RIDC Armstrong Innovation Park.
      Northpointe Blvd, Freeport, PA 16229
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    187 Northpointe Blvd
    Freeport, PA 16229
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.