Retail Space at Columbia
For Sale
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225 Columbia Mall Dr unit a, Bloomsburg, PA 17815
Michael's store with a new 10-year lease for sale.
Property Size16,241 SF
Price / SF$162.50
Days on Market942
Property Features for 225 Columbia Mall Dr unit a
General Information
Standard status
Active
Size
16,241 SF
Class
B
Property subtype
Retail
Occupancy
100%
Lease Type
Net
Investment Type
Net Lease
Net Operating Income
$211,133
Building Details
Year Renovated
2024
Tenancy
Single
Listing Agency:
Capital Commercial Partners
Listed By:
Richard Geisenfeld · License #OH 2009002457
Source:
Crexi
Added: Mar 19, 2024
Changed: Oct 7
Last Checked: Oct 14 at 11:05PM
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 Capital Commercial Partners
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Investment Insights
Based on property information with market context.
Located at the Columbia Mall in Bloomsburg, PA, this property is a Michael’s Stores location. The investment offers a corporate guaranty from Michael’s Stores, Inc with a new 10-year lease. The tenant opened for business November 20, 2024, with rent commencing May 1, 2025. The 16,241 square foot space has been completely renovated with a new roof, HVAC, plumbing, electrical, and parking lot. The mall is undergoing a transformation into an open-air lifestyle mixed-use center. Geisinger Health Systems is developing a hospital campus adjoining the mall, with pedestrian access planned between the two developments. This integration aims to facilitate working, living, and shopping in one location. The property is near Bloomsburg University, which was founded in 1839 and has a student enrollment of approximately 9,600. Bloomsburg is located in Columbia County, 40 miles from Wilkes-Barre, and is the county seat and the only incorporated town in PA. Placer.ai data indicates 842,000 monthly site visits at the interchange, with Columbia Mall receiving over 246,000. Amazon recently purchased a data center in Berwick, less than 15 miles from the interchange, for $650,000,000. TikTok and Meta are both constructing 1M SF data centers nearby. Several new townhome and apartment developments are underway on sites surrounding the mall, increasing demand within the submarket.
Key Highlights
- New 10‑year lease with corporate guaranty from Michael's Stores, Inc.
- Located at Columbia Mall, undergoing transformation into an open‑air lifestyle mixed‑use center.
- Adjacent to a new Geisinger Health Systems hospital campus with pedestrian access, creating a live‑work‑shop environment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$227,283
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,545,660
$4.5M
Cap Rate 7%
$3,246,900
$3.2M
Cap Rate 9%
$2,525,367
$2.5M
Market Conditions
NOI Build-Up for 16,241 SF
Gross rent
$341.1K $21.00/SF
− Vacancy
−$16.4K −$1.01/SF
EGI
$324.7K $19.99/SF
− OpEx
−$97.4K −$6.00/SF
NOI
$227.3K $13.99/SF
Area
Columbia County, PA
Vacancy
4.80%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,545,660
Cap Rate 7%
$3,246,900
Cap Rate 9%
$2,525,367
Alternative Uses
Best Use
Retail
$3.25M
$2.84M – $3.79M
NOI $227,283 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.45M
$4.76M – $6.35M
NOI $381,170 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
202k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Groceries 12%
Apparel 12%
Home Improvements & Furnishings 12%
Starbucks
Dining
28,647 visits/mo
0.4 miles
Aldi
Groceries
24,317 visits/mo
0.4 miles
Cracker Barrel Old Country Store
Dining
23,809 visits/mo
0.5 miles
JCPenney
Apparel
23,627 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
23,537 visits/mo
0.4 miles
Demographics for 17815, PA
28,936
Population
12,661
Households
2.3
Avg Household Size
36
Median Age
32%
College-Educated
93%
High-School Grad
125.7 sq mi
ZIP Area
230
Density / Sq Mi
$66,145
Median Household Income
$36,695
Median Earnings
$968
Median Rent
$216,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Michael's store with a new 10-year lease for sale.
Where is this retail space located?
The property is located at 225 Columbia Mall Dr unit a Bloomsburg, PA.
What is the asking price?
The asking price for this property is $2,639,162.
What are key features of this property?
This property features: New 10‑year lease with corporate guaranty from Michael's Stores, Inc.; Located at Columbia Mall, undergoing transformation into an open‑air lifestyle mixed‑use center.; Adjacent to a new Geisinger Health Systems hospital campus with pedestrian access, creating a live‑work‑shop environment.
