Two-Story Office
For Sale
$1,700,000
Pending
C-112 W Foster Ave, State College, PA 16801
Two-story office condominium with ADA-compliant restrooms, elevator access, and 14 private parking spaces.
Property Size8,800 SF
Days on Market572
Property Features for C-112 W Foster Ave
General Information
Standard status
Pending
Size
8,800 SF
Total Parking Spaces
14
Taxes and HOA fees
Annual Taxes
$23,470
Building Details
Stories
2
Listing Agency:
Continental Real Estate Management
(814) 238-1598
Listed By:
David Fonash · License #RS329103
(814) 308-4768
Source:
Exprealty
Added: Mar 28, 2025
Changed: Oct 6
Last Checked: Oct 19 at 11:29AM
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 Continental Real Estate Management
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story commercial condominium offers flexible space for an owner-user or redevelopment. The first floor features an open, well-maintained layout suitable for immediate occupancy or reconfiguration, while the second floor is currently arranged with traditional offices and can be opened to form a larger floor plate. ADA-compliant restrooms are included, along with direct elevator access between levels. The property also provides 14 private parking spaces.
Located in downtown State College, the building is described as being steps from parks, restaurants, retail, and Penn State University activity. The seller notes the property’s redevelopment optionality in relation to evolving zoning considerations and potential mixed-use or increased-density uses.
Each floor is described as providing approximately 4,400 square feet of adaptable space, supporting a range of interior configurations depending on how the owner intends to use the building.
Located in downtown State College, the building is described as being steps from parks, restaurants, retail, and Penn State University activity. The seller notes the property’s redevelopment optionality in relation to evolving zoning considerations and potential mixed-use or increased-density uses.
Each floor is described as providing approximately 4,400 square feet of adaptable space, supporting a range of interior configurations depending on how the owner intends to use the building.
Key Highlights
- Two‑story commercial condominium with approximately 4,400 SF per floor of adaptable space
- First floor offers an open, well‑maintained layout for immediate occupancy or reconfiguration
- Second floor is currently traditional offices but can be opened to create a second large floor plate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,574
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,031,480
$2.0M
Cap Rate 7%
$1,451,057
$1.5M
Cap Rate 9%
$1,128,600
$1.1M
Market Conditions
NOI Build-Up for 8,800 SF
Gross rent
$158.4K $18.00/SF
− Vacancy
−$23.0K −$2.61/SF
EGI
$135.4K $15.39/SF
− OpEx
−$33.9K −$3.85/SF
NOI
$101.6K $11.54/SF
Area
Centre County, PA
Vacancy
14.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,031,480
Cap Rate 7%
$1,451,057
Cap Rate 9%
$1,128,600
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,574 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,047 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,328
Businesses Nearby
Explore this area
Business Placement
Demographics for 16801, PA
42,446
Population
19,242
Households
2.2
Avg Household Size
28
Median Age
67%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
1,365
Density / Sq Mi
$62,821
Median Household Income
$27,598
Median Earnings
$1,221
Median Rent
$400,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office condominium with ADA-compliant restrooms, elevator access, and 14 private parking spaces.
Where is this office building located?
The property is located at C-112 W Foster Ave State College, PA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Two‑story commercial condominium with approximately 4,400 SF per floor of adaptable space; First floor offers an open, well‑maintained layout for immediate occupancy or reconfiguration; Second floor is currently traditional offices but can be opened to create a second large floor plate
