Brick Flex Space with
For Sale
$269,500
146 S WATER STREET, Bellefonte, PA 16823
Brick commercial space combines office areas, warehouse capacity, a garage bay, and on-site parking.
Property Size2,064 SF
Lot Size0.35 Acres
Price / SF$130.57
Days on Market98
Property Features for 146 S WATER STREET
General Information
Standard status
Active
Size
2,064 SF
Lot size
0.35 Acres
Property subtype
Industrial
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$2,394
Building Details
Building Size
2,064 SF
Year Built
1950
Construction
brick
Listing Agency:
Realty One Group Landmark
Listed By:
Josie Tekely · License #RS368736
(814) 592-7631
Source:
Nelsonrealtypa
Added: Jul 29
Changed: Oct 31
Last Checked: Nov 1 at 1:42PM
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 Realty One Group Landmark
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Investment Insights
Based on property information with market context.
Built in 1950, this approximately 2,064-square-foot brick flex property occupies 0.35 acres and combines office or workspace areas with garage and warehouse space. A garage bay and on-site parking support customer, employee, and service-vehicle access. The configuration can accommodate a range of commercial operations, including automotive-related businesses, contractors, workshops, specialty retail, and event-oriented uses, subject to applicable zoning and municipal approval.
The property is located at 146 S Water Street in Bellefonte, near historic downtown Bellefonte, Talleyrand Park, Spring Creek, and the waterfront district. The offering is available for sale, with a lease-option purchase arrangement also open for consideration on acceptable terms.
The property is located at 146 S Water Street in Bellefonte, near historic downtown Bellefonte, Talleyrand Park, Spring Creek, and the waterfront district. The offering is available for sale, with a lease-option purchase arrangement also open for consideration on acceptable terms.
Key Highlights
- Approximately 2,064 square feet on 0.35 acres
- Brick commercial building constructed in 1950
- Office or workspace areas plus garage and warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,534
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,680
$290.7K
Cap Rate 7%
$207,629
$207.6K
Cap Rate 9%
$161,489
$161.5K
Market Conditions
NOI Build-Up for 2,064 SF
Gross rent
$18.1K $8.76/SF
− Vacancy
−$982 −$0.48/SF
EGI
$17.1K $8.28/SF
− OpEx
−$2.6K −$1.24/SF
NOI
$14.5K $7.04/SF
Area
Centre County, PA
Vacancy
5.43%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,680
Cap Rate 7%
$207,629
Cap Rate 9%
$161,489
Alternative Uses
Best Use
Warehouse
$207.6K
$181.7K – $242.2K
NOI $14,534 @ 7.0% cap · market cap 5.39%
Second Best
Flex RnD
$206.3K
$180.5K – $240.6K
NOI $14,438 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$455.8K
$398.9K – $531.8K
NOI $31,909 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
Under-served
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 Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Brick commercial space combines office areas, warehouse capacity, a garage bay, and on-site parking.
Where is this flex space located?
The property is located at 146 S WATER STREET Bellefonte, PA.
What is the asking price?
The asking price for this property is $269,500.
What are key features of this property?
This property features: Approximately 2,064 square feet on 0.35 acres; Brick commercial building constructed in 1950; Office or workspace areas plus garage and warehouse space
