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    418 Westerly Pkwy State College, PA 16801

    For Lease
    Contact for pricing

    High-traffic retail space near Penn State.

    Lot size:
    246,838 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Invest in a thriving retail center at Westerly Parkway Plaza, a multi-tenant strip center boasting 246,838 square feet of space in Centre County. This prime location offers exceptional visibility from South Atherton Street, a major thoroughfare, placing your business within easy reach of a large customer base. The plaza benefits from ample parking, ensuring convenient access for shoppers. Strong national and local co-tenants, including Weis Market, Crunch Fitness, Domino's Pizza, and Toasted Bagel Café, create a vibrant and attractive retail environment. Multiple spaces are available, with a minimum divisible space of 1,147 square feet and a maximum contiguous space of 6,562 square feet. Currently, 20,651 square feet is vacant. Additionally, a ±1-acre outparcel is available for lease, ideal for a quick-service restaurant, bank, or small retailer. This outparcel presents an opportunity for redevelopment or retrofitting of an existing 1,975-square-foot building, available October 1, 2026. The plaza's strategic location, just one mile from Penn State University and within the State College Borough, ensures high foot traffic and visibility. Its proximity to State College Area High School and numerous high-end student housing complexes further enhances its appeal. This is a remarkable opportunity to establish or expand your business in a dynamic and densely populated area.

    Property Features for 418 Westerly Pkwy

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    246,838 SF

    Unit(s) available at that property

    Space
    Outparcel
    Size
    43,560 SF

    HighLights

    • 246,838 SF retail strip center in Centre County.
    • Multiple tenants, with spaces available from 1,147 SF minimum to 6,562 SF contiguous.
    • 20,651 SF of vacant space currently available.
    • Strong co‑tenancy including Weis Market, Crunch Fitness, and Domino's Pizza.
    • One‑acre outparcel available for lease, suitable for redevelopment or retrofitting of existing 1975 SF building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.8527699
    Latitude
    40.78235342

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    FAQs

    What type of property is this?
    Neighborhood center - High-traffic retail space near Penn State.
    Where is this neighborhood center located?
    The property is located at 418 Westerly Pkwy State College, PA.
    What are key features of this property?
    This property features: 246,838 SF retail strip center in Centre County.; Multiple tenants, with spaces available from 1,147 SF minimum to 6,562 SF contiguous.; 20,651 SF of vacant space currently available.
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    Realmo Value Estimation

    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.

    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.

    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
    418 Westerly Pkwy State College, PA 16801
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