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    Clarion Multifamily Investment Opportunity Title is generated by Realmo AI

    990 E Main St, Clarion, PA 16214

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    Claim this Listing
    For Sale
    Under Contract
    $3,500,000

    COMMERCIAL - Clarion, PA

    Property size:
    44,310 SF
    Lot size:
    1.94 Acres
    Price / SF:
    $78/SF
    Added:
    Sep 13, 2024
    Days on Market:
    631
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 990 E Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Bathrooms
    71
    Rooms
    Bathroom 20, Bathroom 38, Bathroom 40, Bathroom 12, Bathroom 27, Bathroom 48, Bathroom 25, Bathroom 63, Bathroom 33, Bathroom 49, Bathroom 69, Bathroom 17, Bathroom 9, Bathroom 67, Bathroom 58, Bathroom 22, Bathroom 3, Bathroom 19, Bathroom 31, Bathroom 37, Bathroom 57, Bathroom 43, Bathroom 34, Bathroom 45, Bathroom 6, Bathroom 54, Bathroom 62, Bathroom 68, Bathroom 41, Bathroom 50, Bathroom 13, Bathroom 7, Bathroom 24, Bathroom 30, Bathroom 51, Bathroom 56, Bathroom 39, Bathroom 8, Bathroom 44, Bathroom 16, Bathroom 61, Bathroom 65, Bathroom 66, Bathroom 14, Bathroom 2, Bathroom 35, Bathroom 64, Bathroom 23, Bathroom 71, Bathroom 10, Bathroom 55, Bathroom 59, Bathroom 52, Bathroom 46, Bathroom 47, Bathroom 53, Bathroom 1, Bathroom 5, Bathroom 21, Bathroom 36, Bathroom 70, Bathroom 32, Bathroom 18, Bathroom 11, Bathroom 4, Bathroom 42, Bathroom 29, Bathroom 28, Bathroom 26, Bathroom 15, Bathroom 60
    Standard status
    Active Under Contract
    APN
    05-030-023-000-00
    Size
    44,310 SF
    Lot size
    1.94 Acres

    Taxes and HOA fees

    Tax Annual Amount
    23086

    Building Details

    Year built
    1963
    Floors in Building
    3

    We can help!

    Listing Contact
    Alison Heffner

    Listing agent Alison Heffner

    Listing office Burford & Henry Real Estate Services 10189 RT 322, Shippenville, PA

    Listing date Sep 13, 2024

    MLS# 160759

    Copyright © 2026 Allegheny Valley Board 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.

    HighLights

    • High occupancy rate ensures a steady stream of rental income.
    • Total of 70 apartment units provides substantial income potential.
    • Mix of studio, one‑bedroom, and two‑bedroom apartments caters to a broad range of tenants.
    • Located in the heart of Clarion, offering a desirable location for attracting tenants.
    • Includes 92 parking spaces, a valuable amenity for residents.
    • Versatile rental income: Studios at $625/month, 1‑Bedrooms at $725/month, 2‑Bedrooms at $825/month.

    Overview

    Located at 990 E Main St, Clarion, PA, this property presents an investment opportunity with two buildings comprising a total of 70 apartment units and 92 parking spaces. The property, situated in Clarion, is positioned to attract tenants. The unit mix includes 13 studio apartments rented at $625 per month, 26 one-bedroom apartments at $725 per month, and 31 two-bedroom apartments at $825 per month. The property is zoned C-2 and is situated on a 1.94-acre lot. The total building size is 44,310 square feet. The property maintains consistently high occupancy, generating rental income. This property is suited for investors seeking to expand their portfolio in a rental market.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $531.7k $12.00
    − Vacancy −$31.9k −$0.72
    EGI $499.8k $11.28
    − OpEx −$224.9k −$5.08
    NOI $274.9k $6.20
    44,310 SF · lease $12.00/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $3.93M
    $3.44M – $4.58M (±1% cap)
    NOI $274,899 @ 7.0% cap · market cap 7.85%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $7.84M
    $6.86M – $9.15M (±1% cap)
    NOI $548,735 @ 7.0% cap · market cap 15.68%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Alpha Student Housing Vacation Rental Campus Habitat Apartment Building

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Clarion
    County
    Clarion
    State
    Pennsylvania
    Longitude
    -79.374893
    Latitude
    41.210278

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      Multi-Family Investment Opportunity in Clarion

      70-unit apartment complex with 92 parking spaces in Clarion.
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    FAQs

    What type of property is this?
    Apartment building - 70-unit apartment complex with high occupancy in Clarion, Pennsylvania.
    Where is this apartment building located?
    The property is located at 990 E Main St Clarion, PA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: High occupancy rate ensures a steady stream of rental income.; Total of 70 apartment units provides substantial income potential.; Mix of studio, one‑bedroom, and two‑bedroom apartments caters to a broad range of tenants.
    (814) 271-9676
    We can help!
    Listing Contact
    Alison Heffner
    Request Owner's contact information
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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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