Net-Leased Retail
For Sale
$2,065,000
1501 Scalp Ave, Johnstown, PA 15904
Net-leased Shoe Dept. Encore property positioned at a signalized intersection along Scalp Avenue.
Property Size10,908 SF
Price / SF$189.31
Days on Market38
Property Features for 1501 Scalp Ave
General Information
Standard status
Active
Size
10,908 SF
Property subtype
Discount
Lease Type
NNN
Additional Details
Cap Rate
7.25%
Amenities
New 10-year Lease
Large 1.36-acre Parcel
One of the Nation's Largest Family Footwear Retailers
Tenant Relocated from Inline Space at the Shopping Center Behind the Site
Building Details
Building Size
10,908 SF
Listed By:
Timothy B. Stephenson Jr · License #License(s) PA: RMR006104
(215) 531-7000
Source:
Marcusmillichap
Added: Jul 30
Changed: Sep 2
Last Checked: Sep 5 at 3:52AM
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 Timothy B. Stephenson Jr
Investment Insights
Based on property information with market context.
This 10,908-square-foot net-leased retail property is occupied by Shoe Dept. Encore. The asset is positioned at a prominent four-way signalized intersection along Scalp Avenue, a commercial corridor in Johnstown, Pennsylvania.
The property is directly across from Conemaugh East Hills Outpatient Center, a facility within the Conemaugh Health System. Its location along Scalp Avenue provides exposure to a corridor serving the surrounding commercial area. The property is offered as an NNN investment with a 7.25% cap rate.
The property is directly across from Conemaugh East Hills Outpatient Center, a facility within the Conemaugh Health System. Its location along Scalp Avenue provides exposure to a corridor serving the surrounding commercial area. The property is offered as an NNN investment with a 7.25% cap rate.
Key Highlights
- 10,908‑square‑foot net‑leased retail property
- Occupied by Shoe Dept. Encore
- NNN property with a 7.25% cap rate
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
$107,662
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
5.21%
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%
$2,153,240
$2.2M
Cap Rate 7%
$1,538,029
$1.5M
Cap Rate 9%
$1,196,244
$1.2M
Market Conditions
NOI Build-Up for 10,908 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
$163.6K $15.00/SF
− Vacancy
−$9.8K −$0.90/SF
EGI
$153.8K $14.10/SF
− OpEx
−$46.1K −$4.23/SF
NOI
$107.7K $9.87/SF
Area
Cambria County, PA
Vacancy
6.00%
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%
$2,153,240
Cap Rate 7%
$1,538,029
Cap Rate 9%
$1,196,244
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.79M
NOI $107,662 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,377 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
78k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 33%
Apparel 12%
Groceries 3%
Ollie's Bargain Outlet
Shops & Services
26,177 visits/mo
0.0 miles
Burger King
Dining
16,811 visits/mo
0.1 miles
Goodwill
Apparel
9,487 visits/mo
0.2 miles
Dollar General
Shops & Services
9,484 visits/mo
0.0 miles
Firehouse Subs
Dining
6,699 visits/mo
0.1 miles
Demographics for 15904, PA
16,065
Population
7,243
Households
2.2
Avg Household Size
46
Median Age
32%
College-Educated
96%
High-School Grad
28.9 sq mi
ZIP Area
556
Density / Sq Mi
$65,122
Median Household Income
$34,862
Median Earnings
$856
Median Rent
$172,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Net-leased Shoe Dept. Encore property positioned at a signalized intersection along Scalp Avenue.
Where is this nnn property located?
The property is located at 1501 Scalp Ave Johnstown, PA.
What is the asking price?
The asking price for this property is $2,065,000.
What are key features of this property?
This property features: 10,908‑square‑foot net‑leased retail property; Occupied by Shoe Dept. Encore; NNN property with a 7.25% cap rate
