Medical Building in Science
2014 Sandy Dr State College, PA 16803
2014 Sandy Dr, State College, PA, 16803
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For Sale
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Two-unit dental office building near Penn State University.
Property Size9,202 SF
Price / SF$314.06
Days on Market886
Property Features for 2014 Sandy Dr
General Information
- Standard status
- Active
- Size
- 9,202 SF
- Property subtype
- Office
Building Details
- Year Built
- 2003
Listing agency
RE/MAX Centre Realty
(814) 231-8200
Listed by
Marc McMaster · License #PA AB067113
Source
Crexi
Added: Feb 16, 2024 Updated: Jul 6 at 7:43AM Checked: Jul 21 at 1:46PM
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 RE/MAX Centre Realty
Investment Insights
Based on property information with market context.
The property at 2014 Sandy Drive is a two-unit dental office building situated west of Penn State University in the Science Park Commercial District. Classified as a Class A medical building, both units are configured for dental practices. One unit is currently occupied by Advanced Dentistry of Centre County under an absolute NNN lease through 2029, with a direct rent of $9893 plus $3444.23 in additional rent for CAM expenses, which are trued up at year-end. The other unit was previously leased by Advanced Dentistry and is currently vacant as of January 31, 2024. The property features two separate entrances and parking for approximately 50 vehicles. Both AC units were replaced in 2023 and 2024, with the main unit converted to an energy-efficient heat pump. The tenant covers 100% of directly metered utilities and 60.14% of CAM utilities, including building insurance, landscaping/snow removal, permits, property tax, repairs, pest control, and water/sewer. Estimated CAM expenses range from approximately $50,000 to $65,000 per year. This property presents an ideal opportunity for an owner-operator, with potential tax savings and cash flow benefits. Favorable mortgage terms may be available for dentists and small business owners. Owner financing options are also available.
Key Highlights
- Absolute NNN Lease with Advanced Dentistry of Centre County in place through 2029, providing stable income.
- Potential for owner‑operator to occupy the vacant unit and eliminate rent expenses.
- Significant estimated annual tax savings (+$75,000) and after‑tax cash flow (+$30,000) for owner‑operator.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $202.1k | $21.96 |
| − Vacancy | −$17.2k | −$1.87 |
| EGI | $184.9k | $20.09 |
| − OpEx | −$74.0k | −$8.04 |
| NOI | $110.9k | $12.06 |
9,202 SF · lease $21.96/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.58M
$1.39M – $1.85M
NOI $110,940 @ 7.0% cap · market cap 3.84%
Second Best
Office B
$1.52M
$1.33M – $1.77M
NOI $106,214 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,261 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Advanced Dentistry of Centre ...
Dental Office
Brian Kwon
Dental Office
Brian Chan Wook ...
Dental Office
Dr. Kevin M. ...
Dental Office
Berger Marvin DDS
Dental Office
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FAQs
What type of property is this?
Medical Office Space - Two-unit dental office building near Penn State University.
Where is this medical office space located?
The property is located at 2014 Sandy Dr State College, PA.
What is the asking price?
The asking price for this property is $2,890,000.
What are key features of this property?
This property features: Absolute NNN Lease with Advanced Dentistry of Centre County in place through 2029, providing stable income.; Potential for owner‑operator to occupy the vacant unit and eliminate rent expenses.; Significant estimated annual tax savings (+$75,000) and after‑tax cash flow (+$30,000) for owner‑operator.
