Flex Space with Overhead
New
For Sale
Contact for pricing
2948 PENNS VALLEY PIKE, Centre Hall, PA 16828
Industrial-zoned workspace includes concrete floors, parking, and an outdoor area.
Property Size2,400 SF
Lot Size2.00 Acres
Price / SF$0.92
Days on Market6
Property Features for 2948 PENNS VALLEY PIKE
General Information
Standard status
Active
Size
2,400 SF
Lot size
2.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
1
Property Use
Light Industrial
Building Details
Year Built
1956
Buildings
1
Building Size
2,400 SF
Listing Agency:
Kissinger, Bigatel & Brower
(814) 234-4000
Listed By:
Scott G Shamrock · License #RS300260
(814) 360-5163
Source:
Cummingsrealtors
Added: Oct 27
Changed: Nov 1
Last Checked: Nov 1 at 4:53AM
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 Kissinger, Bigatel & Brower
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Investment Insights
Based on property information with market context.
This 2,400-square-foot flex property sits on approximately 2 acres and was built in 1956. The workspace has an open layout, concrete floors, and an overhead garage door, with parking and outdoor area on site. Industrial zoning supports business uses permitted under that designation.
The property is along Route 45 in Centre Hall, with access to the surrounding Penns Valley region.
The property is along Route 45 in Centre Hall, with access to the surrounding Penns Valley region.
Key Highlights
- 2,400‑square‑foot flex property on approximately 2 acres
- Industrial zoning
- Open workspace with concrete floors and an overhead garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,918
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,360
$278.4K
Cap Rate 7%
$198,829
$198.8K
Cap Rate 9%
$154,644
$154.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$21.0K $8.76/SF
− Vacancy
−$1.1K −$0.48/SF
EGI
$19.9K $8.28/SF
− OpEx
−$6.0K −$2.49/SF
NOI
$13.9K $5.80/SF
Area
Centre County, PA
Vacancy
5.43%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,360
Cap Rate 7%
$198,829
Cap Rate 9%
$154,644
Alternative Uses
Best Use
Flex RnD
$239.8K
$209.9K – $279.8K
NOI $16,788 @ 7.0% cap · market cap 763.09%
Second Best
Industrial
$198.8K
$174.0K – $232.0K
NOI $13,918 @ 7.0% cap · market cap 632.64%
Theoretical Best
Office A
$530.1K
$463.8K – $618.4K
NOI $37,104 @ 7.0% cap · market cap 1,686.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16828, PA
4,377
Population
2,175
Households
2
Avg Household Size
47
Median Age
29%
College-Educated
93%
High-School Grad
55.7 sq mi
ZIP Area
79
Density / Sq Mi
$73,810
Median Household Income
$48,331
Median Earnings
$993
Median Rent
$275,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned workspace includes concrete floors, parking, and an outdoor area.
Where is this flex space located?
The property is located at 2948 PENNS VALLEY PIKE Centre Hall, PA.
What are key features of this property?
This property features: 2,400‑square‑foot flex property on approximately 2 acres; Industrial zoning; Open workspace with concrete floors and an overhead garage door
