Downtown Restaurant
For Sale
$615,000
1413 11th Avenue, Altoona, PA 16601
Three-level commercial property with a commercial kitchen, separate upper-floor access, and adaptable interior layouts.
Property Size5,000 SF
Price / SF$123
Days on Market44
Property Features for 1413 11th Avenue
General Information
Standard status
Active
Size
5,000 SF
Taxes and HOA fees
Annual Taxes
$3,067
Listing Agency:
Redwood Prime Realty LLC
(814) 505-6294
Listed By:
Mark Ledford · License #RS325235
(814) 505-6294
Source:
Exprealty
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 24 at 4:25AM
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 Redwood Prime Realty LLC
Investment Insights
Based on property information with market context.
This three-level commercial building in downtown Altoona includes a main level with a commercial kitchen and existing hood systems. The space was previously used for restaurant operations and can also accommodate a retail storefront, showroom, or other commercial use. The lower level has exterior egress on both sides, restroom facilities, and a flexible interior arrangement. It was formerly operated as a club.
The second floor has a separate entrance and an unfinished layout suited to office, studio, or additional commercial space. Apartments may be considered subject to approvals. Located at 1413 11TH AVE in Altoona, the property is within a Federal Opportunity Zone and offers multiple levels for restaurant, retail, office, entertainment, event, or other qualifying commercial uses.
The second floor has a separate entrance and an unfinished layout suited to office, studio, or additional commercial space. Apartments may be considered subject to approvals. Located at 1413 11TH AVE in Altoona, the property is within a Federal Opportunity Zone and offers multiple levels for restaurant, retail, office, entertainment, event, or other qualifying commercial uses.
Key Highlights
- Commercial kitchen with existing hood systems
- Three‑level building with flexible interior layouts
- Lower level includes exterior egress on both sides and restroom facilities
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
$50,344
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
8.19%
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%
$1,006,880
$1.0M
Cap Rate 7%
$719,200
$719.2K
Cap Rate 9%
$559,378
$559.4K
Market Conditions
NOI Build-Up for 5,000 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
$75.0K $15.00/SF
− Vacancy
−$7.9K −$1.58/SF
EGI
$67.1K $13.43/SF
− OpEx
−$16.8K −$3.36/SF
NOI
$50.3K $10.07/SF
Area
Blair County, PA
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,006,880
Cap Rate 7%
$719,200
Cap Rate 9%
$559,378
Alternative Uses
Best Use
Specialty Retail
$719.2K
$629.3K – $839.1K
NOI $50,344 @ 7.0% cap · market cap 8.19%
Second Best
Retail
$718.5K
$628.7K – $838.3K
NOI $50,295 @ 7.0% cap · market cap 8.18%
Theoretical Best
Warehouse
$6.07M
$5.31M – $7.09M
NOI $425,112 @ 7.0% cap · market cap 69.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,822
Businesses Nearby
95k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 29%
Hotels & Casinos 3%
McDonald's
Dining
25,202 visits/mo
0.2 miles
Sheetz
Shops & Services
23,805 visits/mo
0.5 miles
Sheetz
Shops & Services
22,220 visits/mo
0.5 miles
Dollar General
Shops & Services
6,827 visits/mo
0.2 miles
M&T Bank
Shops & Services
6,445 visits/mo
0.4 miles
Demographics for 16601, PA
32,764
Population
14,992
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
93%
High-School Grad
84.8 sq mi
ZIP Area
386
Density / Sq Mi
$55,504
Median Household Income
$35,737
Median Earnings
$790
Median Rent
$138,900
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?
Conventional restaurant - Three-level commercial property with a commercial kitchen, separate upper-floor access, and adaptable interior layouts.
Where is this conventional restaurant located?
The property is located at 1413 11th Avenue Altoona, PA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Commercial kitchen with existing hood systems; Three‑level building with flexible interior layouts; Lower level includes exterior egress on both sides and restroom facilities
