Turnkey Renovated Restaurant with Full
For Sale
$424,900
2206 7th Avenue, Altoona, PA 16602
COMMERCIAL - Altoona, PA
Property Size3,420 SF
Lot Size0.55 Acres
Price / SF$124.24
Days on Market388
Property Features for 2206 7th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Exterior features
Private Entrance
Lot features
Cleared, Level, Cleared, Level
Elementary school district
Altoona
Middle school district
Altoona
High school district
Altoona
Subdivision
Altoona
Standard status
Active
APN
01.06-07..-085, -0.86, -0.88, -0.89, -0.90
Size
3,420 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2023-17073
Tax Annual Amount
6530
Legal Description
2023-17073
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Building materials
Brick
Roof type
Rubber, Flat
Listing Agency:
Howard Hanna Bardell Realty Altoona
(814) 313-4111
Listed By:
Hunter Ott · License #RS353898
(814) 254-8121
Added: Jul 22, 2025
Changed: Aug 4
Last Checked: Aug 13 at 1:06AM
MLS# 77958
Copyright © 2026 Allegheny Highland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated, turnkey restaurant is ready to operate, with updated interiors, upgraded mechanical systems, and refreshed exterior finishes. The building features a spacious dining area with an ordering counter, a full bar with additional seating, three restrooms, and a large, fully equipped commercial kitchen. Included with the sale are all furniture, commercial kitchen equipment, and additional furnishings.
The property sits on six parcels totaling approximately 0.55 acres and provides ample parking. The site is zoned Commercial and includes a separate-available liquor license for purchase.
With approximately 3,420 square feet of building area, the layout supports both front-of-house service and full back-of-house operations, while the multi-parcel site offers room to consider future expansion or development.
The property sits on six parcels totaling approximately 0.55 acres and provides ample parking. The site is zoned Commercial and includes a separate-available liquor license for purchase.
With approximately 3,420 square feet of building area, the layout supports both front-of-house service and full back-of-house operations, while the multi-parcel site offers room to consider future expansion or development.
Key Highlights
- Fully renovated restaurant building on six parcels totaling about 0.55 acres
- Includes all furniture, commercial kitchen equipment, and additional furnishings for ready‑to‑operate use
- Spacious dining area with ordering counter plus a full bar with additional seating
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
$34,435
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
8.10%
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%
$688,700
$688.7K
Cap Rate 7%
$491,929
$491.9K
Cap Rate 9%
$382,611
$382.6K
Market Conditions
NOI Build-Up for 3,420 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
$51.3K $15.00/SF
− Vacancy
−$5.4K −$1.58/SF
EGI
$45.9K $13.43/SF
− OpEx
−$11.5K −$3.36/SF
NOI
$34.4K $10.07/SF
Area
Blair County, PA
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$688,700
Cap Rate 7%
$491,929
Cap Rate 9%
$382,611
Alternative Uses
Best Use
Specialty Retail
$491.9K
$430.4K – $573.9K
NOI $34,435 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.15M
$3.63M – $4.85M
NOI $290,776 @ 7.0% cap · market cap 68.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
41k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Sheetz
Shops & Services
23,805 visits/mo
0.4 miles
M&T Bank
Shops & Services
6,445 visits/mo
0.4 miles
Sunoco
Shops & Services
5,029 visits/mo
0.4 miles
Domino's Pizza
Dining
2,619 visits/mo
0.4 miles
Citizens Bank
Shops & Services
2,007 visits/mo
0.2 miles
Demographics for 16602, PA
27,996
Population
13,171
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
93%
High-School Grad
14.7 sq mi
ZIP Area
1,904
Density / Sq Mi
$53,097
Median Household Income
$37,336
Median Earnings
$842
Median Rent
$120,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully renovated restaurant includes dining area, full bar, commercial kitchen, furnishings, and equipment on six parcels.
Where is this conventional restaurant located?
The property is located at 2206 7th Avenue Altoona, PA.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Fully renovated restaurant building on six parcels totaling about 0.55 acres; Includes all furniture, commercial kitchen equipment, and additional furnishings for ready‑to‑operate use; Spacious dining area with ordering counter plus a full bar with additional seating
