Two-Unit Office
For Sale
$899,000
Pending
332 W Plank Road, Altoona, PA 16602
Commercial Sale, Altoona, PA
Property Size5,477 SF
Lot Size0.46 Acres
Days on Market221
Property Features for 332 W Plank Road
General Information
Property type
Commercial Sale
Property subtype
Office
Exterior features
Rain Gutters
Subdivision
Llyswen
Elementary school district
Altoona
Middle school district
Altoona
High school district
Altoona
Standard status
Pending
APN
01.14-35.. -007.00-000
Size
5,477 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
15116
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Building materials
Brick
Roof type
Shingle
Listing Agency:
Perry Wellington Realty, LLC
(814) 695-5323
Listed By:
Adam Conrad Team
(814) 693-5669
Added: Jan 26
Changed: Aug 28
Last Checked: Sep 3 at 11:06PM
MLS# 79308
Copyright © 2026 Allegheny Highland 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.
Investment Insights
Based on property information with market context.
This 5,477-square-foot office building contains two units, including one currently vacant space that can support owner occupancy or leasing. The brick structure was built in 1970 and includes central air conditioning, natural-gas heating, shingle roofing, rain gutters, and cable availability. Public water and public sewer serve the property.
Set on 0.46 acres along W Plank Road in Altoona, the property provides approximately 24 on-site parking spaces. Its configuration and corridor placement support professional office, medical office, service-based business, and retail uses, subject to applicable requirements.
Set on 0.46 acres along W Plank Road in Altoona, the property provides approximately 24 on-site parking spaces. Its configuration and corridor placement support professional office, medical office, service-based business, and retail uses, subject to applicable requirements.
Key Highlights
- 5,477‑square‑foot office building on 0.46 acres
- Two‑unit configuration with one unit currently vacant
- Approximately 24 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,484
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,109,680
$1.1M
Cap Rate 7%
$792,629
$792.6K
Cap Rate 9%
$616,489
$616.5K
Market Conditions
NOI Build-Up for 5,477 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$92.0K $16.80/SF
− Vacancy
−$18.0K −$3.29/SF
EGI
$74.0K $13.51/SF
− OpEx
−$18.5K −$3.38/SF
NOI
$55.5K $10.13/SF
Area
Blair County, PA
Vacancy
19.60%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,109,680
Cap Rate 7%
$792,629
Cap Rate 9%
$616,489
Alternative Uses
Best Use
Office B
$792.6K
$693.6K – $924.7K
NOI $55,484 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.65M
$5.82M – $7.76M
NOI $465,667 @ 7.0% cap · market cap 51.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 16602, PA
27,996
Population
13,171
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
1,904
Density / Sq Mi
$53,097
Median Household Income
$37,336
Median Earnings
$842
Median Rent
$120,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick office property with one vacant unit, central air, and public water and sewer.
Where is this office building located?
The property is located at 332 W Plank Road Altoona, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,477‑square‑foot office building on 0.46 acres; Two‑unit configuration with one unit currently vacant; Approximately 24 on‑site parking spaces
