Two-Building Medical Office
For Sale
$2,400,000
129 Medical Park Ln, Bellefonte, PA 16823
Two-building portfolio leased to a medical user, with in-place income through December 31, 2027.
Property Size12,384 SF
Lot Size6.09 Acres
Price / SF$193.80
Days on Market255
Property Features for 129 Medical Park Ln
General Information
Standard status
Active
Size
12,384 SF
Lot size
6.09 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1997
Listing Agency:
Continental Real Estate Management
Listed By:
David Fonash · License #RS329103
(814) 308-4768
Source:
Baltimoreharfordhomesforsale
Added: Feb 22
Changed: Nov 1
Last Checked: Nov 1 at 5:53AM
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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Investment Insights
Based on property information with market context.
This for-sale commercial portfolio consists of two buildings situated on 6.09 +/- acres at 129 Medical Park Lane in Bellefonte, PA. The property is currently leased to a medical user, with stable, in-place income extending through December 31, 2027. As a multi-building asset, the configuration is designed to support ongoing medical office use under the existing lease.
The offering is positioned as both an income-producing property today and a candidate for future development. The seller’s remarks note long-term development potential alongside the current lease timeline, giving buyers a basis to underwrite the asset both as a leased investment and as a site with development considerations.
For buyers seeking a healthcare-oriented property with an existing tenant in place, the medical lease term provides near-to-intermediate certainty for cash flow through the end of 2027. For developers or owner-users, the two-building layout on the stated acreage supports evaluation of future redevelopment or expansion possibilities consistent with the property’s described development potential. Please note that all details beyond the leased medical use and the lease income through December 31, 2027 are not provided in the information available.
The offering is positioned as both an income-producing property today and a candidate for future development. The seller’s remarks note long-term development potential alongside the current lease timeline, giving buyers a basis to underwrite the asset both as a leased investment and as a site with development considerations.
For buyers seeking a healthcare-oriented property with an existing tenant in place, the medical lease term provides near-to-intermediate certainty for cash flow through the end of 2027. For developers or owner-users, the two-building layout on the stated acreage supports evaluation of future redevelopment or expansion possibilities consistent with the property’s described development potential. Please note that all details beyond the leased medical use and the lease income through December 31, 2027 are not provided in the information available.
Key Highlights
- Two‑building commercial portfolio on 6.09 +/- acres
- Currently leased to a medical user
- In‑place lease income through December 31, 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,302
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,986,040
$3.0M
Cap Rate 7%
$2,132,886
$2.1M
Cap Rate 9%
$1,658,911
$1.7M
Market Conditions
NOI Build-Up for 12,384 SF
Gross rent
$272.0K $21.96/SF
− Vacancy
−$23.1K −$1.87/SF
EGI
$248.8K $20.09/SF
− OpEx
−$99.5K −$8.04/SF
NOI
$149.3K $12.06/SF
Area
Centre County, PA
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,986,040
Cap Rate 7%
$2,132,886
Cap Rate 9%
$1,658,911
Alternative Uses
Best Use
Healthcare Medical
$2.13M
$1.87M – $2.49M
NOI $149,302 @ 7.0% cap · market cap 6.22%
Second Best
Office B
$2.04M
$1.79M – $2.38M
NOI $142,942 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$2.74M
$2.39M – $3.19M
NOI $191,455 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 16823, PA
29,345
Population
11,679
Households
2.5
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
124.3 sq mi
ZIP Area
236
Density / Sq Mi
$75,717
Median Household Income
$41,842
Median Earnings
$1,013
Median Rent
$258,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-building portfolio leased to a medical user, with in-place income through December 31, 2027.
Where is this medical office space located?
The property is located at 129 Medical Park Ln Bellefonte, PA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Two‑building commercial portfolio on 6.09 +/- acres; Currently leased to a medical user; In‑place lease income through December 31, 2027
