Farm Property with Multiple
New
For Sale
$729,900
114 TUCKER ROAD, Spring Mills, PA 16875
Historic farmhouse, unfinished custom home, barns, workshop, and pool occupy 16.89 acres.
Property Size2,700 SF
Price / SF$270.33
Days on Market4
Property Features for 114 TUCKER ROAD
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Farm
Building Details
Year Built
1910
Listing Agency:
RE/MAX Centre Realty
(814) 360-6961
Listed By:
Marc Mcmaster · License #AB067113
(814) 360-6961
Source:
Cummingsrealtors
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 6:10AM
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 RE/MAX Centre Realty
Investment Insights
Based on property information with market context.
This 16.89-acre farm property includes a three-story farmhouse built in 1910, a separate unfinished custom residence, and several outbuildings. The farmhouse contains three apartments: two two-bedroom units with one and 1.5 baths, plus a third two-bedroom unit with one bath and in-unit laundry. The custom home is designed with three bedrooms and three bathrooms and features ICF walls, custom woodwork, built-ins, stonework, a suspended staircase, an iron loft railing, and a one-car integral garage.
Additional improvements include a large bank barn, a two-story workshop with an overhead garage door, and a one-story barn/garage with two overhead doors. The grounds also contain an in-ground pool, pool house, and surrounding deck that require restoration. The property is located at 114 Tucker Road in Spring Mills, Pennsylvania, within Penns Valley.
Additional improvements include a large bank barn, a two-story workshop with an overhead garage door, and a one-story barn/garage with two overhead doors. The grounds also contain an in-ground pool, pool house, and surrounding deck that require restoration. The property is located at 114 Tucker Road in Spring Mills, Pennsylvania, within Penns Valley.
Key Highlights
- 16.89‑acre farm property at 114 Tucker Road, Spring Mills, PA 16875
- Three‑story farmhouse built in 1910 and configured as three apartments
- Apartment mix includes three 2‑bedroom units with 1, 1.5, and 1 bathroom
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
$23,963
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
3.28%
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%
$479,260
$479.3K
Cap Rate 7%
$342,329
$342.3K
Cap Rate 9%
$266,256
$266.3K
Market Conditions
NOI Build-Up for 2,700 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
$36.6K $13.56/SF
− Vacancy
−$2.4K −$0.88/SF
EGI
$34.2K $12.68/SF
− OpEx
−$10.3K −$3.80/SF
NOI
$24.0K $8.88/SF
Area
Centre County, PA
Vacancy
6.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$479,260
Cap Rate 7%
$342,329
Cap Rate 9%
$266,256
Alternative Uses
Best Use
Multifamily LT 5
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.1K
NOI $21,487 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,742 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 16875, PA
4,031
Population
1,640
Households
2.5
Avg Household Size
46
Median Age
33%
College-Educated
94%
High-School Grad
82.1 sq mi
ZIP Area
49
Density / Sq Mi
$67,645
Median Household Income
$44,497
Median Earnings
$905
Median Rent
$273,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Farm - Historic farmhouse, unfinished custom home, barns, workshop, and pool occupy 16.89 acres.
Where is this farm located?
The property is located at 114 TUCKER ROAD Spring Mills, PA.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: 16.89‑acre farm property at 114 Tucker Road, Spring Mills, PA 16875; Three‑story farmhouse built in 1910 and configured as three apartments; Apartment mix includes three 2‑bedroom units with 1, 1.5, and 1 bathroom
