Two-Unit Commercial
For Sale
$899,000
Pending
332 W Plank Rd, Altoona, PA 16602
Two-unit commercial building with one vacant space and approximately 24 on-site parking spaces along a high-traffic corridor.
Property Size5,477 SF
Days on Market221
Property Features for 332 W Plank Rd
General Information
Standard status
Pending
Size
5,477 SF
Total Parking Spaces
24
Taxes and HOA fees
Annual Taxes
$15,116
Listing Agency:
Perry Wellington Realty, LLC
(814) 695-5323
Listed By:
Adam Conrad Team
(814) 693-5669
Source:
Exprealty
Added: Jan 26
Changed: Aug 21
Last Checked: Sep 4 at 1:04PM
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 Perry Wellington Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit commercial building is located along the Plank Road corridor in Altoona. The property includes one currently vacant unit, offering an immediate option for owner-occupancy or lease-up. Both offices and customer-facing businesses can be supported by the building’s flexible layout.
A key feature is the on-site parking area with approximately 24 spaces, which helps accommodate employees and visitors for office, medical, service-based, or retail use. The property’s visibility and accessibility along a high-traffic road are designed to support ongoing storefront or professional presence.
Overall, the asset is well suited for owner-users seeking space for a professional or medical use, or investors looking for a two-unit configuration with available vacancy and parking capacity.
A key feature is the on-site parking area with approximately 24 spaces, which helps accommodate employees and visitors for office, medical, service-based, or retail use. The property’s visibility and accessibility along a high-traffic road are designed to support ongoing storefront or professional presence.
Overall, the asset is well suited for owner-users seeking space for a professional or medical use, or investors looking for a two-unit configuration with available vacancy and parking capacity.
Key Highlights
- Two‑unit commercial building along the high‑traffic Plank Road corridor in Altoona
- One unit is currently vacant, offering owner‑occupancy or lease‑up potential
- Approximately 24 on‑site parking spaces for staff and customers
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
$63,144
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
7.02%
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%
$1,262,880
$1.3M
Cap Rate 7%
$902,057
$902.1K
Cap Rate 9%
$701,600
$701.6K
Market Conditions
NOI Build-Up for 5,477 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
$115.0K $21.00/SF
− Vacancy
−$9.8K −$1.79/SF
EGI
$105.2K $19.22/SF
− OpEx
−$42.1K −$7.69/SF
NOI
$63.1K $11.53/SF
Area
Blair County, PA
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,262,880
Cap Rate 7%
$902,057
Cap Rate 9%
$701,600
Alternative Uses
Best Use
Healthcare Medical
$902.1K
$789.3K – $1.05M
NOI $63,144 @ 7.0% cap · market cap 7.02%
Second Best
Office B
$792.6K
$693.6K – $924.7K
NOI $55,484 @ 7.0% cap · market cap 6.17%
Theoretical Best
Warehouse
$6.65M
$5.82M – $7.76M
NOI $465,667 @ 7.0% cap · market cap 51.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-unit commercial building with one vacant space and approximately 24 on-site parking spaces along a high-traffic corridor.
Where is this office units located?
The property is located at 332 W Plank Rd Altoona, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑unit commercial building along the high‑traffic Plank Road corridor in Altoona; One unit is currently vacant, offering owner‑occupancy or lease‑up potential; Approximately 24 on‑site parking spaces for staff and customers
