Corner Restaurant and Retail
For Sale
$324,900
1000 2nd St, Cresson, PA 16630
Corner property with an adaptable open layout, on-site parking, and recent updates including improved lighting and a newer furnace.
Property Size2,400 SF
Price / SF$135.38
Days on Market152
Property Features for 1000 2nd St
General Information
Standard status
Active
Size
2,400 SF
Taxes and HOA fees
Annual Taxes
$4,679
Listing Agency:
HOWARD HANNA BARDELL REALTY ALTOONA
(814) 313-4111
Listed By:
Hunter Ott · License #RS353898
(814) 254-8121
Source:
Exprealty
Added: Apr 10
Changed: Aug 31
Last Checked: Sep 7 at 3:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HOWARD HANNA BARDELL REALTY ALTOONA
Investment Insights
Based on property information with market context.
This corner commercial building, currently sized at 2,400 SF, was previously configured for a restaurant and a beer distributor. The space offers a functional, open layout that can be adapted to a range of commercial uses. Recent improvements include improved lighting, a newer furnace, ceiling tiles, and additional cosmetic updates, supporting a straightforward refresh for a new operator.
The property is positioned among established nearby businesses, including a laundromat, grocery store, liquor store, pharmacy, and Sheetz, contributing to steady daily activity in the immediate area. On-site parking is available for customers and employees, supporting storefront and service-oriented operations.
The property is positioned among established nearby businesses, including a laundromat, grocery store, liquor store, pharmacy, and Sheetz, contributing to steady daily activity in the immediate area. On-site parking is available for customers and employees, supporting storefront and service-oriented operations.
Key Highlights
- Corner commercial property in Cresson with an adaptable, open layout formerly configured for a restaurant and beer distributor
- On‑site parking available for customers and employees
- Recent updates include improved lighting, newer furnace, and ceiling tiles plus additional cosmetic improvements
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
$24,165
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
7.44%
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%
$483,300
$483.3K
Cap Rate 7%
$345,214
$345.2K
Cap Rate 9%
$268,500
$268.5K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$3.8K −$1.58/SF
EGI
$32.2K $13.43/SF
− OpEx
−$8.1K −$3.36/SF
NOI
$24.2K $10.07/SF
Area
Cambria County, PA
Vacancy
10.50%
Lease Rate
$15.00 /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%
$483,300
Cap Rate 7%
$345,214
Cap Rate 9%
$268,500
Alternative Uses
Best Use
Specialty Retail
$345.2K
$302.1K – $402.8K
NOI $24,165 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$724.1K
$633.6K – $844.8K
NOI $50,688 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 31%
Groceries 28%
McDonald's
Dining
14,864 visits/mo
0.2 miles
Dollar General
Shops & Services
11,335 visits/mo
0.3 miles
Shop 'n Save
Groceries
10,626 visits/mo
0.1 miles
Dollar Tree
Shops & Services
4,502 visits/mo
0.2 miles
Sunoco
Shops & Services
3,822 visits/mo
0.1 miles
Demographics for 16630, PA
4,679
Population
2,143
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
5.7 sq mi
ZIP Area
821
Density / Sq Mi
$65,034
Median Household Income
$32,172
Median Earnings
$657
Median Rent
$139,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Corner property with an adaptable open layout, on-site parking, and recent updates including improved lighting and a newer furnace.
Where is this conventional restaurant located?
The property is located at 1000 2nd St Cresson, PA.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Corner commercial property in Cresson with an adaptable, open layout formerly configured for a restaurant and beer distributor; On‑site parking available for customers and employees; Recent updates include improved lighting, newer furnace, and ceiling tiles plus additional cosmetic improvements
