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836 S Mill St 4,500 SF 50% Leased Retail Building New Castle, PA 16101 $100,000 ($22.22/SF) 20.40% Cap Rate
Investment Highlights
- On primary commercial corridor
- Tremendous upside potential for commercial and one additional residential space
- Large retail space with garage door
Executive Summary
Commercial Mixed-Use Investment Property Solid brick structure featuring three floors of versatile space in a convenient New Castle location. Immediate Cash Flow: Second floor currently features two (2) occupied residential units generating $1,700/month in gross rental income (Rents: $800 & $900, includes utilities). Value-Add Potential: The entire third floor is an ideal candidate for conversion into a third residential apartment after cosmetic repairs and compliance with local building/fire code, significantly boosting Gross Potential Rent. Commercial/Storage Space: First floor includes dedicated storage area and a single-car garage, providing excellent owner-user potential or additional commercial lease revenue. Full-sized basement offers ample storage. Building has received recent maintenance. Usage Flexibility: Zoning/current use permits mixed Commercial/Residential operation. Suitable for investor seeking immediate returns with a clear path for expansion.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$20,400
|
$4.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$20,400
|
$4.53
|
| Taxes |
$1,604
|
$0.36
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$1,604
|
$0.36
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $20,400 |
| Annual Per SF | $4.53 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $20,400 |
| Annual Per SF | $4.53 |
| Taxes | |
|---|---|
| Annual | $1,604 |
| Annual Per SF | $0.36 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $1,604 |
| Annual Per SF | $0.36 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,500 SF
Building Class
C
Year Built/Renovated
1900/2005
Price
$100,000
Price Per SF
$22.22
Cap Rate
20.40%
NOI
$20,400
Percent Leased
50%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.74
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
C1 - Commercial
Frontage
Amenities
- Corner Lot
- Restaurant
Fairly walkable
50/100
Moderately drivable
70/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-041800 | Total Assessment | $41,600 |
| Land Assessment | $4,000 | Annual Taxes | $1,604 ($0.36/SF) |
| Improvements Assessment | $37,600 | Tax Year | 2025 |
Property Taxes
Parcel Number
08-041800
Land Assessment
$4,000
Improvements Assessment
$37,600
Total Assessment
$41,600
Annual Taxes
$1,604 ($0.36/SF)
Tax Year
2025
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836 S Mill St
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