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    Move-in Ready Johnstown Commercial Property Title is generated by Realmo AI

    514 Coleman Ave, Johnstown, PA 15902

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    For Sale
    $84,900

    Updated commercial property in Johnstown, ideal for professional office use.

    Property size:
    1,636 SF
    Price / SF:
    $51/SF
    Added:
    Apr 20, 2026
    Days on Market:
    42
    Last Refresh:
    May 25 at 10:00 pm

    Property Features for 514 Coleman Ave

    General Information

    Standard status
    Active
    Size
    1,636 SF

    We can help!

    Listing Contact
    Ian Banks
    Ian Banks

    Listing agent Ian Banks License #RS350993

    Listing office RE/MAX POWER Associates

    Listing date Apr 20, 2026

    Source Exprealty

    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 RE/MAX POWER Associates

    HighLights

    • Move‑in‑ready commercial property in the City of Johnstown.
    • Over 1,600 sq ft of finished space, currently configured for professional office use.
    • Partially finished basement with additional office space and half bathroom.
    • Rear gravel parking lot accommodates up to four vehicles.
    • Updated with durable vinyl flooring, classic hardwood floors, dual pane windows, recessed lighting, and updated electrical wiring.
    • Located in a Keystone Innovation Zone (KIZ) which could offer tax credits.

    Overview

    This move-in-ready commercial property is located within the City of Johnstown. The one-story brick building provides over 1,600 square feet of finished space and is configured for professional office use, making it suitable for various business types. The interior features durable vinyl flooring and classic hardwood floors, along with dual pane windows, recessed lighting, and updated electrical wiring. The main level includes three private office rooms, a storage closet, a half bathroom with plumbing for a future tub or shower, and a functional kitchen area. The partially finished basement offers additional space with a large office area exceeding 300 square feet, a private office room, and a half bathroom. Mechanical systems are housed in the basement, including a gas hot water boiler, water heater, and a 100-amp electrical panel. A gravel parking lot in the rear accommodates up to four vehicles, and a covered rear porch provides added convenience. The property is located in a Keystone Innovation Zone (KIZ), potentially offering tax credits to a new owner.
    Location Intelligence

    Current Use by Public Records

    Innovative Tomato, LLC Marketing & Advertising

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnstown
    County
    Cambria
    State
    Pennsylvania
    Longitude
    -78.9107439
    Latitude
    40.2986165

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    FAQs

    What type of property is this?
    Office units - Updated commercial property in Johnstown, ideal for professional office use.
    Where is this office units located?
    The property is located at 514 Coleman Ave Johnstown, PA.
    What is the asking price?
    The asking price for this property is $84,900.
    What are key features of this property?
    This property features: Move‑in‑ready commercial property in the City of Johnstown.; Over 1,600 sq ft of finished space, currently configured for professional office use.; Partially finished basement with additional office space and half bathroom.
    (814) 691-9004
    We can help!
    Listing Contact
    Ian Banks
    Ian Banks
    Real Estate License ID: RS350993
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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