Building Details

Buildings 1

Listing Agency: Realty One Group Landmark - Franklin Show Phone

Listed By: Clayton Karns · License #RS368432 Show Phone

Source: Exprealty

Added: Jul 16 Changed: Sep 10 Last Checked: Oct 5 at 9:05PM

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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 Realty One Group Landmark - Franklin

Investment Insights

Based on property information with market context.

This commercial property occupies 1.2 acres and includes a 24' x 26' building formerly associated with Tastee Freeze. The structure is equipped with gas forced-air heat and central air conditioning for year-round interior comfort.

The site includes parking suitable for customers and employees. Potential concepts identified for the property include an ice cream stand, café, retail shop, office, or restaurant, subject to applicable requirements. Its existing building and site improvements provide a starting point for a new commercial operation or redevelopment concept.

Key Highlights

• 1.2‑acre commercial property
• 24' x 26' existing building
• Former Tastee Freeze property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,931

Cap Rate

4.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$138,620 $138.6K

Cap Rate 7%

$99,014 $99.0K

Cap Rate 9%

$77,011 $77.0K

Market Conditions

NOI Build-Up for 624 SF

Gross rent

$10.0K $15.96/SF

− Vacancy

−$717 −$1.15/SF

EGI

$9.2K $14.81/SF

− OpEx

−$2.3K −$3.70/SF

NOI

$6.9K $11.11/SF

Area

Clarion County, PA

Vacancy

7.20%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$138,620

Cap Rate 7%

$99,014

Cap Rate 9%

$77,011

Alternative Uses

Best Use

Specialty Retail

$99.0K

$86.6K – $115.5K (±1% cap)

NOI $6,931 @ 7.0% cap · market cap 4.62%

Second Best

Retail

$75.8K

$66.3K – $88.4K (±1% cap)

NOI $5,304 @ 7.0% cap · market cap 3.54%

Theoretical Best

Office A

$110.4K

$96.6K – $128.8K (±1% cap)

NOI $7,728 @ 7.0% cap · market cap 5.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Grocery & Convenience Store Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 16235, PA

1,223

Population

672

Households

1.8

Avg Household Size

47

Median Age

29%

College-Educated

95%

High-School Grad

29.3 sq mi

ZIP Area

42

Density / Sq Mi

$80,972

Median Household Income

$46,157

Median Earnings

$720

Median Rent

$209,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Storefront property - Former ice cream stand with heating, cooling, and customer parking on a commercial parcel.

Where is this storefront property located?

The property is located at 8601 Miola Rd Lucinda, PA.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: 1.2‑acre commercial property; 24' x 26' existing building; Former Tastee Freeze property