Shopping Plaza with Two Retail
For Sale
Contact for pricing
3106 E Pleasant Valley Blvd, Altoona, PA 16601
10,499 SF plaza includes two adjacent small shop spaces and was formerly anchored by Rite Aid.
Property Size10,499 SF
Price / SF$123.35
Days on Market219
Property Features for 3106 E Pleasant Valley Blvd
General Information
Standard status
Active
Size
10,499 SF
Property subtype
RETAIL
Listing Agency:
Bennett Williams Commercial - York
(717) 843-5555
Listed By:
Adam Hagerman · License #RS311776
(717) 870-6932
Source:
Moodyscre
Added: Feb 5
Changed: Sep 7
Last Checked: Sep 12 at 6:36AM
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 Bennett Williams Commercial - York
Investment Insights
Based on property information with market context.
Now available for sale and lease, this 10,499-square-foot shopping plaza offers a flexible retail configuration with two adjacent small shop spaces. The suites measure 1,423 square feet and 1,586 square feet, providing practical options for a variety of retail, service, or food and beverage concepts.
The property is located in the Bellwood neighborhood of Altoona, Pennsylvania, at 3106 E Pleasant Valley Blvd. It was formerly anchored by Rite Aid, and the current layout supports multiple operators within the center.
This offering presents an opportunity to take space within a functioning shopping plaza with defined, adjacent tenant-ready suites.
The property is located in the Bellwood neighborhood of Altoona, Pennsylvania, at 3106 E Pleasant Valley Blvd. It was formerly anchored by Rite Aid, and the current layout supports multiple operators within the center.
This offering presents an opportunity to take space within a functioning shopping plaza with defined, adjacent tenant-ready suites.
Key Highlights
- 10,499 SF shopping plaza in the Bellwood neighborhood of Altoona, PA
- Formerly anchored by Rite Aid
- Flexible layout with two adjacent small shop spaces: 1,423 SF and 1,586 SF
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
$105,609
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
8.16%
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%
$2,112,180
$2.1M
Cap Rate 7%
$1,508,700
$1.5M
Cap Rate 9%
$1,173,433
$1.2M
Market Conditions
NOI Build-Up for 10,499 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
$157.5K $15.00/SF
− Vacancy
−$6.6K −$0.63/SF
EGI
$150.9K $14.37/SF
− OpEx
−$45.3K −$4.31/SF
NOI
$105.6K $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%
$2,112,180
Cap Rate 7%
$1,508,700
Cap Rate 9%
$1,173,433
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,609 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.75M
$11.16M – $14.88M
NOI $892,649 @ 7.0% cap · market cap 68.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
297k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 35%
Groceries 5%
Electronics 2%
McDonald's
Dining
43,086 visits/mo
0.4 miles
Sheetz
Shops & Services
40,571 visits/mo
0.4 miles
Dollar Tree
Shops & Services
32,860 visits/mo
0.2 miles
Olive Garden
Dining
31,587 visits/mo
0.1 miles
Wendy's
Dining
19,600 visits/mo
0.4 miles
Demographics for 16601, PA
32,764
Population
14,992
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
93%
High-School Grad
84.8 sq mi
ZIP Area
386
Density / Sq Mi
$55,504
Median Household Income
$35,737
Median Earnings
$790
Median Rent
$138,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Shopping center - 10,499 SF plaza includes two adjacent small shop spaces and was formerly anchored by Rite Aid.
Where is this shopping center located?
The property is located at 3106 E Pleasant Valley Blvd Altoona, PA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 10,499 SF shopping plaza in the Bellwood neighborhood of Altoona, PA; Formerly anchored by Rite Aid; Flexible layout with two adjacent small shop spaces: 1,423 SF and 1,586 SF
