Corner Storefront
For Sale
$2,971,400
2242-2244 Oakland Avenue, Indiana, PA 15701
Corner positioning places the property beside Indiana Mall in Indiana, Pennsylvania.
Property Size7,780 SF
Days on Market186
Property Features for 2242-2244 Oakland Avenue
General Information
Standard status
Active
Size
7,780 SF
Property subtype
Retail - Freestanding
Additional Details
Corner Location
Yes
Building Details
Building Size
7,780 SF
Year Renovated
2024
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Brent Hanna · License #6501393688
(248) 702-0280
Source:
Commercialcafe
Added: Apr 15
Changed: Oct 7
Last Checked: Oct 16 at 6:05AM
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 Encore Real Estate Investment Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The storefront property is located at 2242-2244 Oakland Avenue in Indiana, Pennsylvania, at the intersection of Oakland Avenue and McKnight Road. Its setting is adjacent to Indiana Mall and within two miles of Indiana University of Pennsylvania, placing the property among established retail and university-related activity.
Key Highlights
- Corner location at McKnight Road and Oakland Avenue
- Adjacent to Indiana Mall
- Within two miles of Indiana University of Pennsylvania
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,735
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,754,700
$1.8M
Cap Rate 7%
$1,253,357
$1.3M
Cap Rate 9%
$974,833
$974.8K
Market Conditions
NOI Build-Up for 7,780 SF
Gross rent
$140.0K $18.00/SF
− Vacancy
−$14.7K −$1.89/SF
EGI
$125.3K $16.11/SF
− OpEx
−$37.6K −$4.83/SF
NOI
$87.7K $11.28/SF
Area
Indiana County, PA
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,754,700
Cap Rate 7%
$1,253,357
Cap Rate 9%
$974,833
Alternative Uses
Best Use
Retail
$1.25M
$1.10M – $1.46M
NOI $87,735 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.16M – $2.88M
NOI $172,529 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
250k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Apparel 28%
Shops & Services 18%
Home Improvements & Furnishings 6%
Dunham's Sports
Apparel
30,810 visits/mo
0.3 miles
Wendy's
Dining
23,583 visits/mo
0.3 miles
Michaels
Shops & Services
19,760 visits/mo
0.5 miles
Kohl's
Apparel
19,330 visits/mo
0.2 miles
JCPenney
Apparel
18,694 visits/mo
0.2 miles
Demographics for 15701, PA
30,269
Population
15,695
Households
1.9
Avg Household Size
40
Median Age
41%
College-Educated
95%
High-School Grad
112.2 sq mi
ZIP Area
270
Density / Sq Mi
$56,538
Median Household Income
$30,760
Median Earnings
$799
Median Rent
$175,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Indiana Floral & Flower Boutique — 1680 Warren Rd, Indiana, PA 15701
- Martin's Floral — 1590 Oakland Ave, Indiana, PA 15701
Frequently Asked Questions
What type of property is this?
Storefront property - Corner positioning places the property beside Indiana Mall in Indiana, Pennsylvania.
Where is this storefront property located?
The property is located at 2242-2244 Oakland Avenue Indiana, PA.
What is the asking price?
The asking price for this property is $2,971,400.
What are key features of this property?
This property features: Corner location at McKnight Road and Oakland Avenue; Adjacent to Indiana Mall; Within two miles of Indiana University of Pennsylvania
