Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Stand-Alone Restaurant with Patio Title is generated by Realmo AI

    1905 Waddle Rd, State College, PA 16803

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

    Restaurant with outdoor patio, ample parking, and liquor license.

    Type:Retail, Restaurant
    Property size:
    7,000 SF
    Added:
    Feb 26, 2024
    Days on Market:
    806
    Last Refresh:
    Mar 20 at 8:07 pm

    Property Features for 1905 Waddle Rd

    General Information

    Standard status
    Active
    Size
    7,000 SF
    Property subtype
    Retail, Restaurant

    We can help!

    Listing Contact
    Perry Russ

    Listing agent Perry Russ License #PA

    Listing office Zamias Services Inc.

    Listing date Feb 26, 2024

    Source Crexi

    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 Zamias Services Inc.

    HighLights

    • ±7,000 SF stand‑alone restaurant in a highly accessible location.
    • Benefit from 125 dedicated parking spaces, including 4 handicap‑accessible spaces.
    • Liquor license available through a joint venture with the Holiday Inn Hotel.
    • Inviting ±300 SF outdoor patio for additional dining.
    • Two designated loading and unloading zones for operational efficiency.
    • Located in State College, PA, a vibrant college town with strong regional connectivity and proximity to Penn State University.

    Overview

    This stand-alone restaurant property offers approximately 7,000 square feet of space and includes an outdoor patio of approximately 300 square feet. The property has 125 parking spaces, including 4 handicap-accessible spaces. Two loading and unloading zones support operational efficiency. A liquor license is available through a joint venture with the Holiday Inn Hotel. The property is positioned in State College, Pennsylvania, a town that has grown around Pennsylvania State University. The area benefits from year-round cultural, entertainment, and sporting events. State College is located 140 miles east of Pittsburgh and 193 miles north of Philadelphia, with convenient access to major metropolitan markets. University Park Airport is located 6.3 miles away, offering flights through American Airlines and United Airlines. Direct interstate access is available to I-99 (29,000 VPD). The redevelopment of the Toftrees Resort, scheduled to open in 2025, will further enhance the area, anchored by a liquor-licensed restaurant already operating on-site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • College Buffet — 1631 N Atherton St, State College, PA 16803

    Location Insight

    • Map
    • Local Demand
    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.8984318
    Latitude
    40.8161281

    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

      Retail Space Near Penn State

      Dominant retail center in State College near Penn State University.
      Colonnade Blvd, State College, PA
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant with outdoor patio, ample parking, and liquor license.
    Where is this conventional restaurant located?
    The property is located at 1905 Waddle Rd State College, PA.
    What are key features of this property?
    This property features: ±7,000 SF stand‑alone restaurant in a highly accessible location.; Benefit from 125 dedicated parking spaces, including 4 handicap‑accessible spaces.; Liquor license available through a joint venture with the Holiday Inn Hotel.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Perry Russ
    Real Estate License ID: PA
    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

    Thank You for Inquiry
    1905 Waddle Rd, State College, PA 16803
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!