Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    659 Philadelphia St Indiana, PA 15701

    View on Map
    Sponsored
    For Lease
    Contact for pricing

    BEST LOCATION IN TOWN

    Property Features for 659 Philadelphia St

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Modified Gross Lease
    TSF (Total sq. ft)
    2,550-2,550 SF
    USF (Usable sq. ft)
    2,550-2,550 SF
    Lease Term
    Flexible

    Amenities

    Overview

    Prime Location Freestanding Building

    This 2,550 square foot freestanding building is located in the center of downtown Indiana, Pennsylvania, in a high-traffic area. The ADA-compliant brick and limestone building is currently equipped for a restaurant, but offers endless possibilities. It is attached to the only city parking garage, with a lobby, pay station, and elevator located just steps away. The location is two blocks from Indiana University of Pennsylvania (IUP), placing it in the center of the business district and popular university nightlife area, with over 12,000 students. The building features two HVAC systems, a 200 amp single-phase electrical system, and a 200 amp three-phase electrical system. It also includes two ADA bathrooms. The front facade is enhanced by a late-night takeout sliding window, while the rear facade incorporates the lobby, elevator, and pay station of the parking garage. The location is steps from parking, shops, the post office, the courthouse, and two tri-state area banks headquartered downtown.

    We can help!

    Listing Contact
    Greg Bender

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Indiana
    State
    Pennsylvania
    Longitude
    -79.1933589
    Latitude
    40.6216048

    Nearby Comparable

    • Contact for pricing
      566,688 SF

      Indiana Mall: Retail Space Available

      Prime Retail Space, Multiple Units Available
      2334 Oakland Ave, Indiana, PA 15701
      View Details
    • Contact for pricing
      6,012 SF

      Prime Indiana Retail Space

      6,012 SF Free-Standing Building
      1235 Oakland Ave, Indiana, PA 15701
      View Details
    • $12 SF/Yr

      Downtown Indiana Office Space Available

      Prime downtown office space for lease with high road exposure.
      57 9Th St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Downtown Indiana Office Space Available

      Office space for lease in a high-traffic, visible downtown location.
      45 8Th St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Downtown Indiana Office Space Available

      Prime office space for lease in downtown Indiana.
      736 Church St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Downtown Indiana Borough Office Space

      Over 1200 SF of office space with on-site parking.
      730 Church St, Indiana, PA 15701
      View Details
    • Contact for pricing
      4,485 SF

      Prime Indiana Retail Space

      Free-standing retail building, 4,485 sq ft
      768 Wayne Ave, Indiana, PA 15701
      View Details
    • $800 /Mo

      Downtown Office Space For Rent

      Versatile office space with open layout and private room.
      530 Philadelphia St, Indiana, PA 15701
      View Details
    • $24 SF/Yr
      8,899 SF

      Indiana Gateway Shoppes: Retail Opportunity

      Downtown Indiana Retail Space Available
      405 Philadelphia St, Indiana, PA 15701
      View Details
    • $998,500
      12,000 SF

      Prime Indiana Office/Retail Space

      12,000 SF office/retail space with downtown views for sale.
      699 Philadelphia St, Indiana, PA 15701
      View Details
    • $8 SF/Yr
      152,460 SF

      White Twp Retail Space Available

      Over 25,000 SF retail space for lease.
      420 Old Route 119 Hwy N, Indiana, PA 15701
      View Details
    • $1,050,000
      25,003 SF

      Retail Property in Elderton Boro

      Retail property available for rent in Elderton Boro, PA.
      109 E Saltwork St, Elderton, PA 15736
      View Details

    Nearby Similar for Lease

    • $800 /Mo

      Downtown Office Space For Rent

      Versatile office space with open layout and private room.
      530 Philadelphia St, Indiana, PA 15701
      View Details
    • $8 SF/Yr
      152,460 SF

      White Twp Retail Space Available

      Over 25,000 SF retail space for lease.
      420 Old Route 119 Hwy N, Indiana, PA 15701
      View Details
    • $998,500
      12,000 SF

      Prime Indiana Office/Retail Space

      12,000 SF office/retail space with downtown views for sale.
      699 Philadelphia St, Indiana, PA 15701
      View Details
    • $12 SF/Yr

      Downtown Indiana Office Space Available

      Prime downtown office space for lease with high road exposure.
      57 9Th St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Downtown Indiana Borough Office Space

      Over 1200 SF of office space with on-site parking.
      730 Church St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Downtown Indiana Office Space Available

      Prime office space for lease in downtown Indiana.
      736 Church St, Indiana, PA 15701
      View Details
    • Contact for pricing

      Downtown Indiana Office Space Available

      Office space for lease in a high-traffic, visible downtown location.
      45 8Th St, Indiana, PA 15701
      View Details
    • Contact for pricing
      4,485 SF

      Prime Indiana Retail Space

      Free-standing retail building, 4,485 sq ft
      768 Wayne Ave, Indiana, PA 15701
      View Details
    • $24 SF/Yr
      8,899 SF

      Indiana Gateway Shoppes: Retail Opportunity

      Downtown Indiana Retail Space Available
      405 Philadelphia St, Indiana, PA 15701
      View Details
    • Contact for pricing
      6,012 SF

      Prime Indiana Retail Space

      6,012 SF Free-Standing Building
      1235 Oakland Ave, Indiana, PA 15701
      View Details
    • Contact for pricing
      566,688 SF

      Indiana Mall: Retail Space Available

      Prime Retail Space, Multiple Units Available
      2334 Oakland Ave, Indiana, PA 15701
      View Details

    FAQs

    What type of property is this?
    Retail property - BEST LOCATION IN TOWN
    Where is this retail property located?
    The property is located at 659 Philadelphia St Indiana, PA.
    What are key features of this property?
    This property features:
    (724) 840-5449
    Request Owner's contact information
    659 Philadelphia St Indiana, PA 15701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    659 Philadelphia St
    Indiana, PA 15701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    659 Philadelphia St Indiana, PA 15701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Greg Bender
    (724) 840-5449
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!