Residential Income Property with
For Sale
$179,000
656 S Temple Lane, Altoona, PA 16602
COMMERCIAL - Altoona, PA
Property Size1,297 SF
Lot Size0.72 Acres
Price / SF$138.01
Days on Market97
Property Features for 656 S Temple Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Rooms
Basement
Parking features
Driveway
Basement
Partial
Lot features
Level, Level
Elementary school district
Altoona
Middle school district
Altoona
High school district
Altoona
Subdivision
Logan Township
Standard status
Active
APN
14-22A1-47
Size
1,297 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1951
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Well
Building Details
Year built
1945
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Re/max Results Realty Group · RE/MAX International
(814) 946-9355
Listed By:
Joyce Dalton · License #RS150245A
(814) 329-3509
Added: May 27
Changed: Aug 4
Last Checked: Aug 31 at 7:06AM
MLS# 80238
Copyright © 2026 Allegheny Highland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential income property features vinyl siding and a 2-bedroom, 1-bath layout, including a first-floor bedroom. The kitchen and bath have been updated, with the bath offering a walk-in shower. Additional improvements include newer windows and doors. A 1-car garage and a level lot round out the home.
The property is located at 656 S Temple Lane in Altoona, PA, positioned behind Greenwood Dollar General along Temple Lane. Zoned Commercial.
Set on a level .72-acre lot, the home provides a straightforward residential configuration with on-site parking via the attached 1-car garage.
The property is located at 656 S Temple Lane in Altoona, PA, positioned behind Greenwood Dollar General along Temple Lane. Zoned Commercial.
Set on a level .72-acre lot, the home provides a straightforward residential configuration with on-site parking via the attached 1-car garage.
Key Highlights
- 2‑bedroom, 1‑bath vinyl‑sided home with 1st‑floor bedroom
- Updated kitchen and bath with walk‑in shower
- Newer windows and doors
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
$10,003
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
5.59%
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%
$200,060
$200.1K
Cap Rate 7%
$142,900
$142.9K
Cap Rate 9%
$111,144
$111.1K
Market Conditions
NOI Build-Up for 1,297 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
$19.1K $14.76/SF
− Vacancy
−$957 −$0.74/SF
EGI
$18.2K $14.02/SF
− OpEx
−$8.2K −$6.31/SF
NOI
$10.0K $7.71/SF
Area
Blair County, PA
Vacancy
5.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$200,060
Cap Rate 7%
$142,900
Cap Rate 9%
$111,144
Alternative Uses
Best Use
Apartment 5plus
$142.9K
$125.0K – $166.7K
NOI $10,003 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,274 @ 7.0% cap · market cap 61.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Vinyl-sided 2-bedroom, 1-bath home with a first-floor bedroom, updated kitchen and bath, and a 1-car garage.
Where is this single family property located?
The property is located at 656 S Temple Lane Altoona, PA.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath vinyl‑sided home with 1st‑floor bedroom; Updated kitchen and bath with walk‑in shower; Newer windows and doors
