Turn-Key Brick Retail
For Sale
$165,000
1500 Ferndale Ave, Johnstown, PA 15905
Brick two-story building currently operating as a pet grooming and boarding business with a rental apartment above.
Property Size1,881 SF
Price / SF$87.72
Days on Market179
Property Features for 1500 Ferndale Ave
General Information
Standard status
Active
Size
1,881 SF
Taxes and HOA fees
Annual Taxes
$2,786
Listing Agency:
REALTY ONE GROUP LANDMARK JOHNSTOWN
(814) 408-6495
Listed By:
Tisha Phillips
(814) 418-4414
Source:
Exprealty
Added: Mar 25
Changed: Sep 4
Last Checked: Sep 18 at 8:06AM
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 JOHNSTOWN
Investment Insights
Based on property information with market context.
This brick, two-story commercial building is maintained with numerous upgrades and improvements and is currently operating as a pet grooming/boarding business. The second-floor apartment provides additional rental income, and the owner will remove all equipment from the commercial space prior to closing. A metal roof was installed in 2020, and there is a 6-foot vinyl fence located at the back of the building. Electric service is the responsibility of the tenant.
The property is on Ferndale Avenue and benefits from being on a well-traveled corridor. The building currently has a long-term tenant in place on a month-to-month lease. The property also splits between two municipalities: Ferndale Borough and Upper Yoder Township.
For buyers looking for a turn-key commercial opportunity, the existing setup supports continued use as a pet grooming/boarding operation, while the upstairs apartment can help diversify income. With tenant responsibility for electric and equipment removal to be completed before closing, the terms are structured to support an organized transition. Contact the agent to review current operations and scheduling for a private tour.
The property is on Ferndale Avenue and benefits from being on a well-traveled corridor. The building currently has a long-term tenant in place on a month-to-month lease. The property also splits between two municipalities: Ferndale Borough and Upper Yoder Township.
For buyers looking for a turn-key commercial opportunity, the existing setup supports continued use as a pet grooming/boarding operation, while the upstairs apartment can help diversify income. With tenant responsibility for electric and equipment removal to be completed before closing, the terms are structured to support an organized transition. Contact the agent to review current operations and scheduling for a private tour.
Key Highlights
- Brick 2‑story building currently operating as a pet grooming/boarding business
- Second‑floor apartment provides $700/month rental income; tenant pays electric
- Metal roof installed in 2020
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
$11,546
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
7.00%
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%
$230,920
$230.9K
Cap Rate 7%
$164,943
$164.9K
Cap Rate 9%
$128,289
$128.3K
Market Conditions
NOI Build-Up for 1,881 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
$22.6K $12.00/SF
− Vacancy
−$1.6K −$0.84/SF
EGI
$21.0K $11.16/SF
− OpEx
−$9.4K −$5.02/SF
NOI
$11.5K $6.14/SF
Area
Cambria County, PA
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$230,920
Cap Rate 7%
$164,943
Cap Rate 9%
$128,289
Alternative Uses
Best Use
Retail
$265.2K
$232.1K – $309.4K
NOI $18,565 @ 7.0% cap · market cap 11.25%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,546 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$567.5K
$496.6K – $662.1K
NOI $39,727 @ 7.0% cap · market cap 24.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 15905, PA
19,654
Population
9,907
Households
2
Avg Household Size
50
Median Age
35%
College-Educated
96%
High-School Grad
41.5 sq mi
ZIP Area
474
Density / Sq Mi
$70,620
Median Household Income
$45,285
Median Earnings
$893
Median Rent
$118,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick two-story building currently operating as a pet grooming and boarding business with a rental apartment above.
Where is this storefront property located?
The property is located at 1500 Ferndale Ave Johnstown, PA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Brick 2‑story building currently operating as a pet grooming/boarding business; Second‑floor apartment provides $700/month rental income; tenant pays electric; Metal roof installed in 2020
