Leased Retail Cannabis
For Sale
Contact for pricing
5580 Goods Ln, Altoona, PA 16602
Net-leased retail asset with 7 years remaining on the current lease and four additional five-year extension options.
Property Size10,606 SF
Price / SF$250.14
Days on Market487
Property Features for 5580 Goods Ln
General Information
Standard status
Active
Size
10,606 SF
Property subtype
RETAIL
Listing Agency:
SRS Real Estate Partners | McLean
(202) 925-4205
Listed By:
Andrew Fallon · License #5002882
(202) 286-1542
Source:
Moodyscre
Added: May 14, 2025
Changed: Aug 12
Last Checked: Sep 12 at 10:29AM
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 SRS Real Estate Partners | McLean
Investment Insights
Based on property information with market context.
This leased retail cannabis store is operated under the Zen Leaf name and features 7 years remaining on the current lease term. The lease includes four (5-year) extension options, supporting long-term site commitment. Rent is scheduled to increase by 2% annually throughout the initial term and during each extension option.
The property is located at 5580 Goods Ln in Altoona, Pennsylvania (16602). The tenant, Verano Holdings Corp., is headquartered in Chicago and operates as a vertically integrated, multi-state cannabis company.
For investors and landlords, the current lease structure provides both a defined remaining term and multiple opportunities for continued occupancy, with contractual annual rent escalations included throughout the initial and extension periods.
The property is located at 5580 Goods Ln in Altoona, Pennsylvania (16602). The tenant, Verano Holdings Corp., is headquartered in Chicago and operates as a vertically integrated, multi-state cannabis company.
For investors and landlords, the current lease structure provides both a defined remaining term and multiple opportunities for continued occupancy, with contractual annual rent escalations included throughout the initial and extension periods.
Key Highlights
- Net‑leased retail asset with 7 years remaining on the current lease with Zen Leaf
- Includes four (4) additional five‑year extension options
- Lease calls for 2% annual rent increases throughout the term and during each option to extend
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
$106,686
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
4.02%
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%
$2,133,720
$2.1M
Cap Rate 7%
$1,524,086
$1.5M
Cap Rate 9%
$1,185,400
$1.2M
Market Conditions
NOI Build-Up for 10,606 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
$159.1K $15.00/SF
− Vacancy
−$6.7K −$0.63/SF
EGI
$152.4K $14.37/SF
− OpEx
−$45.7K −$4.31/SF
NOI
$106.7K $10.06/SF
Area
Blair County, PA
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,133,720
Cap Rate 7%
$1,524,086
Cap Rate 9%
$1,185,400
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,686 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.88M
$11.27M – $15.03M
NOI $901,747 @ 7.0% cap · market cap 33.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
606k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Apparel 22%
Shops & Services 19%
Groceries 11%
Hobby Lobby
Shops & Services
56,568 visits/mo
0.4 miles
JCPenney
Apparel
47,058 visits/mo
0.2 miles
Martin's Food Market
Groceries
46,174 visits/mo
0.4 miles
Gabe's
Shops & Services
39,553 visits/mo
0.3 miles
Cracker Barrel Old Country Store
Dining
25,136 visits/mo
0.2 miles
Demographics for 16602, PA
27,996
Population
13,171
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
1,904
Density / Sq Mi
$53,097
Median Household Income
$37,336
Median Earnings
$842
Median Rent
$120,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Net-leased retail asset with 7 years remaining on the current lease and four additional five-year extension options.
Where is this retail space located?
The property is located at 5580 Goods Ln Altoona, PA.
What is the asking price?
The asking price for this property is $2,653,000.
What are key features of this property?
This property features: Net‑leased retail asset with 7 years remaining on the current lease with Zen Leaf; Includes four (4) additional five‑year extension options; Lease calls for 2% annual rent increases throughout the term and during each option to extend
