Leased Retail Cannabis
For Sale
Contact for pricing
5580 Goods Ln, Altoona, PA 16602
Net-leased retail asset with 7 years remaining on the current lease and four additional five-year extension options.
Property Size10,606 SF
Price / SF$250.14
Days on Market533
Property Features for 5580 Goods Ln
General Information
Standard status
Active
Size
10,606 SF
Property subtype
RETAIL
Listing Agency:
SRS Real Estate Partners | McLean
(202) 925-4205
Listed By:
Andrew Fallon · License #RSR006585
(202) 286-1542
Source:
Moodyscre
Added: May 14, 2025
Changed: Oct 25
Last Checked: Oct 26 at 8:05PM
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 SRS Real Estate Partners | McLean
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Investment Insights
Based on property information with market context.
This leased retail cannabis store is operated under the Zen Leaf name and features 7 years remaining on the current lease term. The lease includes four (5-year) extension options, supporting long-term site commitment. Rent is scheduled to increase by 2% annually throughout the initial term and during each extension option.
The property is located at 5580 Goods Ln in Altoona, Pennsylvania (16602). The tenant, Verano Holdings Corp., is headquartered in Chicago and operates as a vertically integrated, multi-state cannabis company.
For investors and landlords, the current lease structure provides both a defined remaining term and multiple opportunities for continued occupancy, with contractual annual rent escalations included throughout the initial and extension periods.
The property is located at 5580 Goods Ln in Altoona, Pennsylvania (16602). The tenant, Verano Holdings Corp., is headquartered in Chicago and operates as a vertically integrated, multi-state cannabis company.
For investors and landlords, the current lease structure provides both a defined remaining term and multiple opportunities for continued occupancy, with contractual annual rent escalations included throughout the initial and extension periods.
Key Highlights
- Net‑leased retail asset with 7 years remaining on the current lease with Zen Leaf
- Includes four (4) additional five‑year extension options
- Lease calls for 2% annual rent increases throughout the term and during each option to extend
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,686
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,133,720
$2.1M
Cap Rate 7%
$1,524,086
$1.5M
Cap Rate 9%
$1,185,400
$1.2M
Market Conditions
NOI Build-Up for 10,606 SF
Gross rent
$159.1K $15.00/SF
− Vacancy
−$6.7K −$0.63/SF
EGI
$152.4K $14.37/SF
− OpEx
−$45.7K −$4.31/SF
NOI
$106.7K $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 Rate 5%
$2,133,720
Cap Rate 7%
$1,524,086
Cap Rate 9%
$1,185,400
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,686 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.88M
$11.27M – $15.03M
NOI $901,747 @ 7.0% cap · market cap 33.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
606k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Apparel 22%
Shops & Services 19%
Groceries 11%
Hobby Lobby
Shops & Services
56,568 visits/mo
0.4 miles
JCPenney
Apparel
47,058 visits/mo
0.2 miles
Martin's Food Market
Groceries
46,174 visits/mo
0.4 miles
Gabe's
Shops & Services
39,553 visits/mo
0.3 miles
Cracker Barrel Old Country Store
Dining
25,136 visits/mo
0.2 miles
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
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
Frequently Asked Questions
What type of property is this?
Retail space - Net-leased retail asset with 7 years remaining on the current lease and four additional five-year extension options.
Where is this retail space located?
The property is located at 5580 Goods Ln Altoona, PA.
What is the asking price?
The asking price for this property is $2,653,000.
What are key features of this property?
This property features: Net‑leased retail asset with 7 years remaining on the current lease with Zen Leaf; Includes four (4) additional five‑year extension options; Lease calls for 2% annual rent increases throughout the term and during each option to extend
