Retail Space at Columbia
225 Columbia Mall Dr unit a, Bloomsburg, PA 17815
Michael's store with a new 10-year lease for sale.
Type:Retail
Property size:
16,241 SFPrice / SF:
$162/SF- Added:
- Mar 19, 2024
- Days on Market:
- 806
- Last Refresh:
- May 12 at 8:09 pm
Property Features for 225 Columbia Mall Dr unit a
General Information
- Standard status
- Active
- Size
- 16,241 SF
- Property subtype
- Retail
Listing agent Richard Geisenfeld License #OH 2009002457
Listing office Capital Commercial Partners
Listing date Mar 19, 2024
Source Crexi
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
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.
- Significant recent investment in the area with Amazon, TikTok, and Meta building large data centers nearby.
- Property completely renovated with new roof, HVAC, plumbing, electrical, and parking lot.
- Proximity to Bloomsburg University (approximately 9,600 students).
Overview
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.
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 | $341.1k | $21.00 |
| − Vacancy | −$16.4k | −$1.01 |
| EGI | $324.7k | $19.99 |
| − OpEx | −$97.4k | −$6.00 |
| NOI | $227.3k | $13.99 |
16,241 SF · lease $21.00/SF/yr · vacancy 4.80% · expense 30.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Planet Fitness
Spa & Massage Center
Dr. Joseph Serniak
Physician
MVP Clubhouse
Arcade & Gaming Center
M&T Bank ATM
Atm
Bloomsburg School of Dance
Training Center
Location Insight
- Map
- Local Demand
- City
- Bloomsburg
- County
- Columbia
- State
- Pennsylvania
- Longitude
- -76.483965
- Latitude
- 41.017915
Nearby Similar for Sale
FAQs
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.
