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    111 Altmeyer Drive Kittanning, PA 16201

    View on Map
    Pending
    $800,000

    COMMERCIAL - Kittanning, PA

    Type:Apartment
    Property size:
    11,696 SF
    Lot size:
    2.70 Acres
    Added:
    May 11, 2025
    Days on Market:
    326
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 111 Altmeyer Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Pending
    APN
    38-0-063131
    Size
    11,696 SF
    Lot size
    2.70 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    15861

    Utilities

    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1996
    Floors in Building
    1

    We can help!

    Listing Contact
    Justin Solano

    Listing agent Justin Solano

    Listing office The Daniel Perich Group 800 Main Street, Stroudsburg, PA

    Listing date May 11, 2025

    MLS# PM-132786

    Copyright © 2026 Pocono Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Assisted Living Facility

    This well-established assisted living facility, operating since 2014, is situated on a 2.7-acre lot and comprises 11,696 total square feet across two buildings. Known as Country Manor Personal Care Home, the facility includes 30 units. Among these, 28 are studio-like units with shared bathrooms, and two units feature private bathrooms. The property also incorporates three storage/equipment rooms for employee use, an employee common area, a nursing station, and an office. Residents benefit from a fully equipped kitchen and two common areas. Currently, the facility accommodates 26 residents, with a total capacity for up to 50, indicating potential for expansion. A team of 13 employees supports the operation, ensuring a supportive environment for residents.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Country Manor Personal ... Nursing Home

    Suggested Use

    Restaurant Hotel & Motel Bar & Pub Veterinary Clinic Nursing Home Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Country Manor Personal Care Home — 111 Altmeyer Dr, Kittanning, PA 16201

    Location Insight

    • Map
    • Local Demand
    City
    Kittanning
    County
    Armstrong
    State
    Pennsylvania
    Longitude
    -79.3884405
    Latitude
    40.7635563

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    FAQs

    What type of property is this?
    Assisted living facility - Operating assisted living facility with growth potential in Kittanning, PA.
    Where is this assisted living facility located?
    The property is located at 111 Altmeyer Drive Kittanning, PA.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Established assisted living facility operating since 2014; Significant growth potential with current occupancy of 26 residents and a capacity for 50; 11,696 total square feet across 2 buildings on a 2.7‑acre lot
    (570) 500-0151
    We can help!
    Listing Contact
    Justin Solano
    Learn More
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    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
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