For Sale
$4,200,000

415 3Rd St Williamsport, PA 17701

60,000 SF Flex Warehouse, 7.62% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
138
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.

Highlights

  • Triple-Net (NNN) lease with no landlord responsibilities.
  • Brand new 10-year lease with 3% annual rent increases and three 5-year options.
  • 7.4% year-over-year market rent growth, totaling 25.5% over the past three years.
  • Excellent I-180 accessibility.
  • Strategic location near Wilkes-Barre, Harrisburg, and Philadelphia, PA.

Property Details for 415 3Rd St

Property type
Warehouses, Industrial properties
Square Feet
60,000 SF
Class
A
Year Built
1928
Buildings
1
Stories
3
Lot Size (sq. ft)
39,640 SF
Units
1

Location Insight

City
Williamsport
County
Lycoming
State
Pennsylvania
Latitude
41.238160823575
Longitude
-77.009249158055

FAQs

What type of property is this?
Warehouse - 60,000 SF Flex Warehouse, 7.62% Cap Rate
Where is the warehouse located?
The property is located at 415 3Rd St Williamsport, PA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Triple-Net (NNN) lease with no landlord responsibilities.; Brand new 10-year lease with 3% annual rent increases and three 5-year options.; 7.4% year-over-year market rent growth, totaling 25.5% over the past three years.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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415 3Rd St
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