Medical Office Building with Two
For Sale
$389,900
1212 Turnpike Ave, Clearfield, PA 16830
Two independent suites provide separate reception areas and flexible professional office layouts.
Property Size2,800 SF
Lot Size2.28 Acres
Price / SF$139.25
Days on Market25
Property Features for 1212 Turnpike Ave
General Information
Standard status
Active
Size
2,800 SF
Lot size
2.28 Acres
Additional Details
Furnished
No
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,650
Building Details
Buildings
1
Building Size
2,800 SF
Construction
brick
Listing Agency:
Keller Williams Advantage Realty
(814) 761-0732
Listed By:
Andrew Starr
(814) 761-0732
Source:
Exprealty
Added: Aug 5
Changed: Aug 27
Last Checked: Aug 28 at 1:16PM
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 Keller Williams Advantage Realty
Investment Insights
Based on property information with market context.
Located at 1212 Turnpike Ave in Clearfield, this medical office property includes approximately 2,800 square feet of space on a 2.28-acre site spanning two parcels. The building is arranged as two independent suites, each with a reception area and front desk, along with exam and consultation rooms, private offices, administrative areas, flexible rooms, and two bathrooms. A brick exterior, ADA-accessible concrete ramp, and newly installed rubber roof are among the property improvements.
The paved parking lot is supplemented by additional rear parking and secondary access. The property sits within an established commercial corridor and is currently configured for medical office use. Medical furniture and equipment are excluded from the sale, although separate negotiation may be available.
The paved parking lot is supplemented by additional rear parking and secondary access. The property sits within an established commercial corridor and is currently configured for medical office use. Medical furniture and equipment are excluded from the sale, although separate negotiation may be available.
Key Highlights
- Approximately 2, 800 square feet of medical office space
- 2.28‑acre site across two parcels
- Two independent office suites with separate reception areas and front desks
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
$33,019
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
8.47%
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%
$660,380
$660.4K
Cap Rate 7%
$471,700
$471.7K
Cap Rate 9%
$366,878
$366.9K
Market Conditions
NOI Build-Up for 2,800 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
$61.5K $21.96/SF
− Vacancy
−$6.5K −$2.31/SF
EGI
$55.0K $19.65/SF
− OpEx
−$22.0K −$7.86/SF
NOI
$33.0K $11.79/SF
Area
Clearfield County, PA
Vacancy
10.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$660,380
Cap Rate 7%
$471,700
Cap Rate 9%
$366,878
Alternative Uses
Best Use
Healthcare Medical
$471.7K
$412.7K – $550.3K
NOI $33,019 @ 7.0% cap · market cap 8.47%
Second Best
Office B
$421.2K
$368.6K – $491.4K
NOI $29,484 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$617.5K
$540.3K – $720.4K
NOI $43,223 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 16830, PA
13,121
Population
6,841
Households
1.9
Avg Household Size
46
Median Age
19%
College-Educated
91%
High-School Grad
132.0 sq mi
ZIP Area
99
Density / Sq Mi
$56,822
Median Household Income
$36,601
Median Earnings
$745
Median Rent
$119,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two independent suites provide separate reception areas and flexible professional office layouts.
Where is this medical office space located?
The property is located at 1212 Turnpike Ave Clearfield, PA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Approximately 2, 800 square feet of medical office space; 2.28‑acre site across two parcels; Two independent office suites with separate reception areas and front desks
