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 Market37
Property Features for 110 Grand Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
89
Bathrooms
37
Full bathrooms
32
Half bathrooms
5
Rooms
Bedroom 62, Bedroom 86, Bathroom 6, Bedroom 79, Bedroom 25, Bathroom 31, Bedroom 48, Bedroom 45, Bedroom 76, Bedroom 46, Bathroom 12, Bedroom 42, Bedroom 61, Bedroom 56, Bathroom 10, Bedroom 35, Bedroom 34, Bedroom 44, Bedroom 41, Bedroom 2, Bedroom 5, Bedroom 23, Bathroom 19, Bedroom 21, Bathroom 5, Bathroom 37, Bedroom 54, Bedroom 6, Bedroom 73, Bedroom 3, Bedroom 20, Bedroom 66, Bedroom 84, Bedroom 77, Bedroom 24, Bathroom 8, Bedroom 72, Bathroom 32, Bedroom 78, Bathroom 14, Bathroom 34, Bedroom 52, Bedroom 47, Bathroom 18, Bedroom 69, Bedroom 18, Bedroom 57, Bedroom 7, Bedroom 10, Bathroom 30, Bedroom 29, Bathroom 29, Bathroom 24, Bedroom 43, Bedroom 65, Bedroom 32, Bedroom 8, Bedroom 60, Bathroom 1, Bathroom 22, Bedroom 36, Bathroom 21, Bathroom 17, Bathroom 4, Bathroom 7, Bedroom 67, Bedroom 74, Bedroom 75, Bedroom 80, Bedroom 9, Bedroom 70, Bedroom 50, Bedroom 85, Bedroom 71, Bedroom 88, Bathroom 3, Bedroom 38, Bedroom 68, Bedroom 53, Bathroom 33, Bedroom 51, Bedroom 39, Bathroom 27, Bedroom 59, Bedroom 15, Bathroom 25, Bathroom 16, Bedroom 16, Bathroom 2, Bedroom 87, Bedroom 55, Bathroom 35, Bedroom 49, Bedroom 89, Bedroom 63, Bedroom 13, Bedroom 1, Bedroom 58, Bedroom 31, Bedroom 27, Bedroom 83, Bedroom 19, Bedroom 28, Bedroom 22, Bathroom 23, Bedroom 14, Bedroom 12, Bedroom 64, Bathroom 28, Bedroom 4, Bedroom 26, Bedroom 33, Bathroom 9, Bedroom 11, Bathroom 26, Bathroom 11, Bathroom 36, Bathroom 20, Bathroom 15, Bedroom 37, Bathroom 13, Bedroom 82, Bedroom 17, Bedroom 81, Bedroom 30, Bedroom 40
Parking features
Driveway
Patio and Porch features
Deck, Porch
High school district
Clarion Area SD
Directions
Clarion County Courthouse: Head toward N 5th Ave, Turn right onto S 5th Ave, Turn left onto Wood St, Continue onto Grand Ave, property is on the right
Standard status
Active
APN
05-050-014-000-00
Size
50,000 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
32439
Utilities
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Building materials
Wood Siding, Vinyl Siding
Roof type
Metal, Asphalt
Listing Agency:
eXp Realty LLC
(888) 379-9352
Listed By:
Cheyna Griggs
(814) 715-9091
Added: Jul 30
Changed: Sep 4
Last Checked: Sep 4 at 5:06PM
MLS# 11964231
Copyright © 2026 My State MLS. 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 properties totaling 50,000 square feet on 2.4 acres. The offering includes 89 bedrooms, 32 full bathrooms, and 5 half bathrooms, with the real estate, personal property, signage, website, and an established student housing brand included. Improvements date to 1900 and feature wood and vinyl siding, asphalt and metal roofing, porches, decks, and driveway parking. Public water serves the properties.
The portfolio serves PennWest University, with the properties located near campus in Clarion, Pennsylvania. Historical operating performance reflects a 9.7% cap rate and stable occupancy. The portfolio has been operated as student housing and includes an established website and branded signage.
The portfolio serves PennWest University, with the properties located near campus in Clarion, Pennsylvania. Historical operating performance reflects a 9.7% cap rate and stable occupancy. The portfolio has been operated as student housing and includes an established website and branded signage.
Key Highlights
- 13‑property multifamily portfolio serving PennWest University
- 89 bedrooms, 32 full bathrooms, and 5 half bathrooms
- 50,000 square feet across 2.4 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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Thirteen-property student housing portfolio with 89 bedrooms and established operations serving PennWest University.
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, 32 full bathrooms, and 5 half bathrooms; 50,000 square feet across 2.4 acres
