143 Wallace AveNew Castle, PA 16101

Property Details for 143 Wallace Ave

Lot size

0.39 AC

Property size (Sq ft)

1,435 SF

Zone code

R-2

Property type

Office properties

Property subtype

Office buildings

APN

02-174400

APU

2174400

Description

This attractive, single-story brick office building in New Castle, Pennsylvania presents a fantastic investment opportunity. The property, located at 143 E Wallace Ave, sits on a 0.39-acre lot and is zoned R2. The 100% vacant building boasts 5 offices, a spacious (21x13) waiting room, and two restrooms, making it ideal for a variety of businesses. A small kitchenette adds convenience. The building features extensive recent renovations, including a full roof replacement in 2015, new gutters and downspouts, a new concrete handicap-accessible ramp, replacement windows, and new rear doors and framing. Other upgrades include a new exterior gas line, a repaved parking lot, an updated bathroom, a new water line expansion tank, new flooring and painting in the offices, updated landscaping, driveway repairs, and new Cat5 and Ethernet cabling throughout the building. The basement provides ample storage space. A fenced (on three sides) paved parking lot offers 18 parking spaces. This move-in ready property is priced at $185,000.

• CAP approach

  CAP return

  Valuation

  6%

  $272,904

  6.5%

  $251,912

  7%

  $233,918

• Comparable approach

  Method

  Valuation

  Relative Method

  $134,230

  Geo Method

  $134,230

• Alternative Use

  Use

  Valuation

  Residential

  $312,370

  Hospitality

  $286,130

  Educational

  $238,056

  Medical

  $246,244

  Retail

  $370,310

Location Insight

City

New Castle

County

Lawrence

State

Pennsylvania

Latitude

41.0069

Longitude

-80.3428

CBSA code

35260

CBSA name

NEW CASTLE, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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