Student Housing Portfolio Near
For Sale
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17 E Main St, Bloomsburg, PA 17815
257-bed student housing portfolio near Bloomsburg University.
Property Size113,759 SF
Price / SF$225.71
Days on Market1493
Property Features for 17 E Main St
General Information
Standard status
Active
Size
113,759 SF
Total Parking Spaces
200
Property subtype
Multifamily
Occupancy
99%
Investment Type
Stabilized
Net Operating Income
$1,451,626
Building Details
Year Built
2009
Year Renovated
2009
Buildings
7
Units
93
Listing Agency:
Capital Commercial Partners
Listed By:
Richard Geisenfeld · License #OH 2009002457
Source:
Crexi
Added: Sep 8, 2022
Changed: Oct 2
Last Checked: Oct 7 at 9:31AM
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 Capital Commercial Partners
Investment Insights
Based on property information with market context.
This portfolio features seven properties with 257 beds, catering to student housing needs near Bloomsburg University in Bloomsburg, PA. The properties have historically maintained near 100% occupancy and collection rates. Additional income is generated from attached commercial units and over 200 parking spaces. Many units have been upgraded with features such as granite countertops, hardwood flooring, ceramic tile, large televisions (up to 86 inches), washer/dryers, dishwashers, and high-speed internet. The properties are located close to one another and offer a shuttle service to classes. The surrounding area includes shopping, grocery stores, and restaurants in the downtown area. Bloomsburg is strategically located at the crossroads of I-80 and Route 42. Bloomsburg University has a student enrollment of approximately 9,900+ students. Geisinger Heath Systems recently purchased 72.5 acres adjoining Columbia Mall to develop a new hospital, orthopedic surgery center, assisted living, welcome center, and parking garage, indicating strong growth in the area.
Key Highlights
- 257‑bed student housing portfolio near Bloomsburg University campus.
- Near 100% historical occupancy and collection rates.
- Additional income from attached commercial units and 200+/- parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,203,202
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$24,064,040
$24.1M
Cap Rate 7%
$17,188,600
$17.2M
Cap Rate 9%
$13,368,911
$13.4M
Market Conditions
NOI Build-Up for 113,759 SF
Gross rent
$2.38M $20.88/SF
− Vacancy
−$187.6K −$1.65/SF
EGI
$2.19M $19.23/SF
− OpEx
−$984.4K −$8.65/SF
NOI
$1.20M $10.58/SF
Area
Columbia County, PA
Vacancy
7.90%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$24,064,040
Cap Rate 7%
$17,188,600
Cap Rate 9%
$13,368,911
Alternative Uses
Best Use
Apartment 5plus
$17.19M
$15.04M – $20.05M
NOI $1,203,202 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$38.14M
$33.37M – $44.50M
NOI $2,669,878 @ 7.0% cap · market cap 10.40%
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
1,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 17815, PA
28,936
Population
12,661
Households
2.3
Avg Household Size
36
Median Age
32%
College-Educated
93%
High-School Grad
125.7 sq mi
ZIP Area
230
Density / Sq Mi
$66,145
Median Household Income
$36,695
Median Earnings
$968
Median Rent
$216,700
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - 257-bed student housing portfolio near Bloomsburg University.
Where is this apartment building located?
The property is located at 17 E Main St Bloomsburg, PA.
What is the asking price?
The asking price for this property is $25,676,000.
What are key features of this property?
This property features: 257‑bed student housing portfolio near Bloomsburg University campus.; Near 100% historical occupancy and collection rates.; Additional income from attached commercial units and 200+/- parking spaces.
