Class A Office
For Sale
Contact for pricing
2583 Gateway Dr, State College, PA 16801
Class A office building offering flexible options to lease or purchase an office condo or the full building.
Property Size22,352 SF
Price / SF$178.95
Days on Market174
Property Features for 2583 Gateway Dr
General Information
Standard status
Active
Size
22,352 SF
Property subtype
OFFICE
Listing Agency:
Bennett Williams Commercial - York
(814) 574-5570
Listed By:
Kandy Weader · License #RS315162
(814) 574-5570
Source:
Moodyscre
Added: Feb 6
Changed: Jul 30
Last Checked: Jul 30 at 4:38AM
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 Bennett Williams Commercial - York
Investment Insights
Based on property information with market context.
Class A office building totaling 22,352 SF, with an opportunity to lease or purchase an office condo. The offering also includes the option to purchase the entire building.
The property is described as easily accessible from Penn State University and downtown State College, and is about a 5-minute drive from I-99. The building is positioned within a professional office community.
The layout supports office use with a focus on day-to-day business operations, and the condo or whole-building structure provides flexibility depending on whether an owner-occupier or another user is seeking a portion of the building or the full asset.
The property is described as easily accessible from Penn State University and downtown State College, and is about a 5-minute drive from I-99. The building is positioned within a professional office community.
The layout supports office use with a focus on day-to-day business operations, and the condo or whole-building structure provides flexibility depending on whether an owner-occupier or another user is seeking a portion of the building or the full asset.
Key Highlights
- Class A office building totaling 22,352 SF
- Opportunity to lease or purchase an office condo
- Also available as a purchase of the entire building
Financial Insights For Office B
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 | $402.3k | $18.00 |
| − Vacancy | −$58.3k | −$2.61 |
| EGI | $344.0k | $15.39 |
| − OpEx | −$86.0k | −$3.85 |
| NOI | $258.0k | $11.54 |
22,352 SF · lease $18.00/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.69M
$3.22M – $4.30M
NOI $257,998 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.94M
$4.32M – $5.76M
NOI $345,558 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
Explore this area
Business Placement
Demographics for 16801, PA
42,446
Population
19,242
Households
2.2
Avg Household Size
28
Median Age
67%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
1,365
Density / Sq Mi
$62,821
Median Household Income
$27,598
Median Earnings
$1,221
Median Rent
$400,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Class A office building offering flexible options to lease or purchase an office condo or the full building.
Where is this office building located?
The property is located at 2583 Gateway Dr State College, PA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Class A office building totaling 22,352 SF; Opportunity to lease or purchase an office condo; Also available as a purchase of the entire building
