For Sale
$24,000,000

719 New Castle StZelienople, PA 16063

488,282 SF Warehouse, 8.36% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 488,282-square-foot multi-tenant industrial warehouse complex in Zelienople, Pennsylvania. Located on 31.81 acres, the property boasts four buildings with 12 suites, offering a diverse range of spaces. The buildings feature ceiling heights ranging from 14 to 30 feet, providing ample vertical clearance. Loading capabilities are robust, with 15 dock-high doors and 29 loading docks. The property benefits from 17 overhead cranes and three-phase power (1200 amps, 480 volts), catering to diverse industrial needs. Currently 94.83% occupied, the property generates a substantial net operating income (NOI) of $2,006,562, representing an attractive 8.36% capitalization rate at an asking price of $24,000,000. Built between 1950 and 1970, the property offers significant upside potential due to below-market rents. Its strategic location, 31 miles north of Downtown Pittsburgh, provides easy access to Interstates 79 and 76, enhancing its logistical advantages. The property's substantial size and features, combined with its strong occupancy rate and favorable location within the low-tax Butler County industrial submarket (5.1% vacancy rate), make it a compelling investment prospect. Ample outdoor storage space further enhances its appeal. The property is offered fee simple.

Highlights

  • 488,282 SF specialized manufacturing warehouse on 31.81 acres with expansion potential.
  • 12 suites, 14'-30' clear height, 15 dock high doors, 29 grade level doors, and 17 cranes.
  • 30 miles north of Downtown Pittsburgh, near I-76 and I-79.
  • 95% occupied, below-market rents, anchored by Deep Well Services, 15-year average tenancy.
  • Low-tax Butler County location, 5.1% industrial vacancy rate.
  • Current rents are approximately 49.14% below market rate within a 10-mile radius.

Property Details for 719 New Castle St

Property type
Warehouses, Industrial properties
Square Feet
488,282 SF
Class
C
Buildings
4
Lot Size (sq. ft)
1,385,644 SF
Units
12

Location Insight

City
Zelienople
County
Butler
State
Pennsylvania
Latitude
40.7953783
Longitude
-80.1485921
719 New Castle St, Zelienople, Pennsylvania

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719 New Castle St
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