Commercial Building Near Grand
For Sale
$350,000
2525 6th Ave, Altoona, PA 16602
Commercial building with lease in place near renovated Palazzo.
Property Size1,845 SF
Price / SF$189.70
Days on Market155
Property Features for 2525 6th Ave
General Information
Standard status
Active
Size
1,845 SF
Taxes and HOA fees
Annual Taxes
$9,127
Listing Agency:
Redwood Prime Realty LLC
(814) 327-1682
Listed By:
Christopher Weidley
(814) 327-1682
Source:
Exprealty
Added: Mar 31
Changed: Aug 20
Last Checked: Aug 31 at 12:36AM
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 Redwood Prime Realty LLC
Investment Insights
Based on property information with market context.
This commercial building offers a great opportunity for ownership, benefiting from its location next to the newly renovated Greystone Grand Palazzo and associated shops. The property is currently under a 5-year lease, generating a gross annual income of $30,000. The building has a size of 1845 square feet.
Key Highlights
- Existing 5‑year lease in place
- $30,000 gross annual income
- Commercial building
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
$18,559
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
5.30%
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%
$371,180
$371.2K
Cap Rate 7%
$265,129
$265.1K
Cap Rate 9%
$206,211
$206.2K
Market Conditions
NOI Build-Up for 1,845 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
$27.7K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$26.5K $14.37/SF
− OpEx
−$8.0K −$4.31/SF
NOI
$18.6K $10.06/SF
Area
Blair County, PA
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$371,180
Cap Rate 7%
$265,129
Cap Rate 9%
$206,211
Alternative Uses
Best Use
Retail
$265.1K
$232.0K – $309.3K
NOI $18,559 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.24M
$1.96M – $2.61M
NOI $156,866 @ 7.0% cap · market cap 44.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Rutters
Shops & Services
18,201 visits/mo
0.4 miles
Best Way Pizza
Dining
5,446 visits/mo
0.4 miles
Citizens Bank
Shops & Services
2,007 visits/mo
0.5 miles
Jackson Hewitt Tax Service
Shops & Services
1,115 visits/mo
0.3 miles
AAMCO Transmissions
Shops & Services
851 visits/mo
0.3 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with lease in place near renovated Palazzo.
Where is this storefront property located?
The property is located at 2525 6th Ave Altoona, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Existing 5‑year lease in place; $30,000 gross annual income; Commercial building
