Building Details

Buildings 1

Listing Agency: Coldwell Banker Town & Country R.E. b***@aol.com Show Phone

Listed By: Sharon Cursio Show Phone

Source: Exprealty

Added: Jun 26 Changed: Oct 4 Last Checked: Oct 16 at 10:46AM

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Investment Insights

Based on property information with market context.

This bar and restaurant property includes the building and operating business, with a beer license and seating arranged for both indoor and outdoor service. The premises also feature a skills game of chance and an upstairs apartment that may provide owner-use space or additional income potential.

Two additional properties may be available to convey if the buyer is interested in acquiring rental properties alongside the bar and restaurant operation.

Key Highlights

• Bar and restaurant business included with the building
• Beer license in place
• Indoor and outdoor seating areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,350

Cap Rate

7.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$207,000 $207.0K

Cap Rate 7%

$147,857 $147.9K

Cap Rate 9%

$115,000 $115.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,000 SF

Gross rent

$18.0K $18.00/SF

− Vacancy

−$1.4K −$1.44/SF

EGI

$16.6K $16.56/SF

− OpEx

−$6.2K −$6.21/SF

NOI

$10.4K $10.35/SF

Area

Blair County, PA

Vacancy

8.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$207,000

Cap Rate 7%

$147,857

Cap Rate 9%

$115,000

Alternative Uses

Best Use

Mixed Use

$147.9K

$129.4K – $172.5K (±1% cap)

NOI $10,350 @ 7.0% cap · market cap 7.96%

Second Best

Specialty Retail

$143.8K

$125.9K – $167.8K (±1% cap)

NOI $10,069 @ 7.0% cap · market cap 7.75%

Theoretical Best

Warehouse

$1.21M

$1.06M – $1.42M (±1% cap)

NOI $85,022 @ 7.0% cap · market cap 65.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mike's Court Bar & Pub

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Hair Salon Electrical Service HVAC Service Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

941

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Similar Off Market Nearby

• Petey's Food & Spirits — 1509 13th St, Altoona, PA 16601
• Frohsinn Singing Society — 1108 12th Ave, Altoona, PA 16601
• LIFEsTYLE ALTUS Brew Pub — 601 7th Ave, Altoona, PA 16602
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• Mike's Court — 1908 5th St, Altoona, PA 16601

Frequently Asked Questions

What type of property is this?

Bar & Pub - Includes indoor and outdoor seating, a beer license, and an upstairs apartment.

Where is this bar & pub located?

The property is located at 1908 5th St Altoona, PA.

What is the asking price?

The asking price for this property is $130,000.

What are key features of this property?

This property features: Bar and restaurant business included with the building; Beer license in place; Indoor and outdoor seating areas