Renovated Commercial Condo For
2123 E College Ave State College, PA 16801
2123 E College Ave, State College, PA, 16801
Contact for pricing
For Sale
Contact for pricing
Freshly renovated commercial condo with flexible space and high visibility.
Property Size1,250 SF
Price / SF$176
Days on Market842
Property Features for 2123 E College Ave
General Information
- Standard status
- Active
- Size
- 1,250 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 2009
Listing Agency
Landmark Commercial Realty
(717) 731-1990
Listed by
Chuck Heller · License #PA
Source
Crexi
Added: Apr 1, 2024 Updated: Jul 10 at 3:40 pm Checked: Jul 20 at 5:10 am
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
This renovated commercial condo in the College Ave. Professional Park features a modern, open layout with high-end finishes. Currently used as a showroom, the space is designed to be flexible for various business needs. Situated along a major artery in State College, the property benefits from high visibility with over 22,000 vehicles passing daily. It also offers direct access to Route 322, placing it minutes from key population centers and customer bases. The condo association handles building upkeep, allowing occupants to focus on their business. The property size is 1250 square feet. Occupants are responsible for utilities, trash, and janitorial services. This property presents an opportunity to own commercial space in a dynamic market.
Key Highlights
- High‑visibility location on a major artery with 22,000+ vehicles passing daily and direct access to Route 322.
- Freshly renovated with a sleek, modern open layout and high‑end finishes.
- Flexible space adaptable to various business needs, currently functioning as a showroom.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.2k | $12.96 |
| − Vacancy | −$729 | −$0.58 |
| EGI | $15.5k | $12.38 |
| − OpEx | −$4.6k | −$3.71 |
| NOI | $10.8k | $8.66 |
1,250 SF · lease $12.96/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$154.7K
$135.4K – $180.5K
NOI $10,830 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$276.1K
$241.6K – $322.1K
NOI $19,325 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Weaver Memorials
General Contractor
BAYADA Pediatrics
Home Health Care Service
Apple Fitness Equipment
Gym & Fitness Center
BAYADA Adult Nursing
Home Health Care Service
Apple Fitness
Gym & Fitness Center
Similar For Sale Nearby
Similar Off Market Nearby
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FAQs
What type of property is this?
Showroom - Freshly renovated commercial condo with flexible space and high visibility.
Where is this showroom located?
The property is located at 2123 E College Ave State College, PA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: High‑visibility location on a major artery with 22,000+ vehicles passing daily and direct access to Route 322.; Freshly renovated with a sleek, modern open layout and high‑end finishes.; Flexible space adaptable to various business needs, currently functioning as a showroom.
