Flex Building with Loading
For Sale
$749,000
2928 WASHINGTON AVE, Clearfield, PA 16830
Commercial building with reception, office, conference, storage, and shop areas for business operations.
Property Size8,520 SF
Days on Market174
Property Features for 2928 WASHINGTON AVE
General Information
Standard status
Active
Size
8,520 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$6,951
Amenities
loading dock
overhead doors
Building Details
Building Size
8,520 SF
Year Built
1961
Listing Agency:
BURLEIGH REAL ESTATE
(814) 765-9660
Listed By:
Jennifer L Suhoney
Source:
Nelsonrealtypa
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 30 at 8:38PM
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 BURLEIGH REAL ESTATE
Investment Insights
Based on property information with market context.
This flex property combines customer-facing and operational space within a commercial building constructed in 1961. The interior includes a reception area, office areas, a conference room, and storage space, providing a varied layout for business functions.
The shop measures 60 feet by 79 feet and includes a loading dock and overhead doors to support shipping and receiving activity. The property is located at 2928 Washington Ave in Clearfield, Pennsylvania.
The shop measures 60 feet by 79 feet and includes a loading dock and overhead doors to support shipping and receiving activity. The property is located at 2928 Washington Ave in Clearfield, Pennsylvania.
Key Highlights
- 60' x 79' shop area
- Loading dock supports shipping and receiving
- Overhead doors provide shop access
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
$60,366
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
8.06%
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%
$1,207,320
$1.2M
Cap Rate 7%
$862,371
$862.4K
Cap Rate 9%
$670,733
$670.7K
Market Conditions
NOI Build-Up for 8,520 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
$75.2K $8.83/SF
− Vacancy
−$4.2K −$0.49/SF
EGI
$71.0K $8.34/SF
− OpEx
−$10.7K −$1.25/SF
NOI
$60.4K $7.09/SF
Area
Clearfield County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
15.00%
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%
$1,207,320
Cap Rate 7%
$862,371
Cap Rate 9%
$670,733
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.50M
NOI $89,716 @ 7.0% cap · market cap 11.98%
Second Best
Warehouse
$862.4K
$754.6K – $1.01M
NOI $60,366 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,522 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16830, PA
13,121
Population
6,841
Households
1.9
Avg Household Size
46
Median Age
19%
College-Educated
91%
High-School Grad
132.0 sq mi
ZIP Area
99
Density / Sq Mi
$56,822
Median Household Income
$36,601
Median Earnings
$745
Median Rent
$119,900
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?
Flex space - Commercial building with reception, office, conference, storage, and shop areas for business operations.
Where is this flex space located?
The property is located at 2928 WASHINGTON AVE Clearfield, PA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 60' x 79' shop area; Loading dock supports shipping and receiving; Overhead doors provide shop access
