Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    1246 E College Ave State College, PA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    4+ acres available for development near Penn State.

    Type:LAND
    Lot size:
    4.10 Acres
    Added:
    Apr 11, 2025
    Days on Market:
    385
    Last Refresh:
    Apr 5 at 10:47 pm

    Property Features for 1246 E College Ave

    General Information

    Standard status
    Active
    Lot size
    4.10 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 1246 E College Ave Contact us

    We can help!

    Listing Contact
    Kandy Weader

    Listing agent Kandy Weader License #PA RS369238

    Listing office Bennett Williams Commercial - York

    Listing date Apr 11, 2025

    Source Moodyscre

    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 Bennett Williams Commercial - York

    Overview

    Land Ready For Development

    Over 4 acres of commercial land are available for development on East College Avenue, within sight of Beaver Stadium, the Bryce Jordan Center, and other Penn State sports complexes. East College Avenue serves as a major thoroughfare into downtown State College, offering significant frontage opportunities. Land leases or built-to-suit options are available on the site. The location is suitable for a convenience store, hotel, retail space, quick-service restaurant, or office. The multi-tiered site allows for a creative layout, potentially accommodating a drive-through, multi-story building, or rooftop patio. This redevelopment opportunity is available for discussion regarding specific space needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.8347
    Latitude
    40.8085

    Nearby Similar for Lease

    • $5,710/Mo

      State College Office Sublease Opportunity

      Versatile office sublease near Penn State University campus.
      129 S SPARKS Street, STATE COLLEGE, PA 16801
      View Details
    • $14 SF/Yr

      E College Ave Office Space

      Versatile office space in a highly visible location.
      2541 E COLLEGE, STATE COLLEGE, PA 16801
      View Details
    • Contact for pricing

      Class A Office Space Available

      High-quality office space in a professional research park setting.
      330 Innovation Blvd, College Township, PA 16803
      View Details
    • Contact for pricing

      Retail Space Near Penn State

      Retail space ideal for grocery, fitness, or medical tenants.
      2222 E. College Avenue, State College, PA 16801
      View Details
    • Contact for pricing

      Retail and Restaurant Space Available

      Ground floor retail and restaurant space near Penn State.
      338 West College Avenue, State College, PA
      View Details
    • Contact for pricing

      Office/Flex Building in Research Park

      Single-story office/flex building with ample parking and convenient location.
      College Township, PA 16803
      View Details
    • $18 SF/Yr

      Office Space For Lease

      Office space for lease in a visible location.
      2014 SANDY Drive, STATE COLLEGE, PA 16803
      View Details
    • Contact for pricing

      Class A Office Space Available

      7,026 SF office space for rent in State College.
      331 Innovation Blvd, State College, PA
      View Details
    • Contact for pricing

      Enclosed Mall Retail Space

      Retail space in enclosed shopping mall near Penn State.
      2901-2999 E College Ave, State College, PA
      View Details
    • Contact for pricing

      Restaurant Space with Outdoor Patio

      Sublease opportunity: restaurant space with outdoor seating and visibility.
      226 W College Ave, State College, PA
      View Details
    • Contact for pricing

      Retail Space Near Penn State

      Retail opportunities near Penn State and the Nittany Mall.
      501 Benner Pike, State College, PA
      View Details
    • Contact for pricing

      Land for Lease on Corridor

      Land available for lease in State College retail corridor.
      1471 Martin St, State College, PA
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4+ acres available for development near Penn State.
    Where is this commercial land located?
    The property is located at 1246 E College Ave State College, PA.
    What are key features of this property?
    This property features: High‑visibility location on East College Avenue, the major throughway into downtown State College.; Proximity to Beaver Stadium, Bryce Jordan Center, and Penn State sports complexes.; Over 4 acres of land available for development.
    (814) 574-5570 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kandy Weader
    Real Estate License ID: PA RS369238
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!