Student Housing Multifamily
For Sale
$3,885,000
110 Grand Avenue, Clarion, PA 16214
Residential Income, Clarion, PA
Property Size50,000 SF
Lot Size2.40 Acres
Price / SF$77.70
Days on Market48
Property Features for 110 Grand Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Variable
Rooms
Basement
Basement
Finished, Full, Partial
Elementary school district
Clarion
Middle school district
Clarion
High school district
Clarion
Subdivision
Clarion
Standard status
Active
APN
05-050-014-000-00
Size
50,000 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Annual Amount
32439
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Electric (Heating), Baseboard, Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
26
Roof type
Metal, Composition
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Cheyna Griggs
(814) 715-9091
Added: Jul 31
Changed: Sep 16
Last Checked: Sep 16 at 6:06AM
MLS# 164166
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.
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 13 residential properties serving PennWest University, with a combined 89 bedrooms, 32 full baths, and 5 half baths. The offering includes the real estate along with personal property, signage, and an established website associated with the housing operation. The properties provide student-oriented residential accommodations in the Clarion market and are positioned near campus. Across the portfolio, the reported building area totals 50,000 square feet on 2.399 acres. Property records identify variable zoning, public water, public sewer, central air, and a mix of hot water, baseboard, forced-air, natural gas, and electric heating systems. Roof types include metal and composition materials.
Key Highlights
- 13‑property multifamily portfolio serving PennWest University
- 89 bedrooms with 32 full baths and 5 half baths
- 50,000 square feet across 2.399 acres
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
$310,200
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
7.98%
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%
$6,204,000
$6.2M
Cap Rate 7%
$4,431,429
$4.4M
Cap Rate 9%
$3,446,667
$3.4M
Market Conditions
NOI Build-Up for 50,000 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
$600.0K $12.00/SF
− Vacancy
−$36.0K −$0.72/SF
EGI
$564.0K $11.28/SF
− OpEx
−$253.8K −$5.08/SF
NOI
$310.2K $6.20/SF
Area
Clarion County, PA
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$6,204,000
Cap Rate 7%
$4,431,429
Cap Rate 9%
$3,446,667
Alternative Uses
Best Use
Apartment 5plus
$4.43M
$3.88M – $5.17M
NOI $310,200 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.85M
$7.74M – $10.32M
NOI $619,200 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 16214, PA
8,308
Population
4,113
Households
2
Avg Household Size
32
Median Age
40%
College-Educated
93%
High-School Grad
47.9 sq mi
ZIP Area
173
Density / Sq Mi
$53,430
Median Household Income
$23,262
Median Earnings
$872
Median Rent
$169,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Established student housing portfolio serving PennWest University with multiple residential properties and included business-related personal property.
Where is this multifamily property located?
The property is located at 110 Grand Avenue Clarion, PA.
What is the asking price?
The asking price for this property is $3,885,000.
What are key features of this property?
This property features: 13‑property multifamily portfolio serving PennWest University; 89 bedrooms with 32 full baths and 5 half baths; 50,000 square feet across 2.399 acres
