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    131 Hiester St State College, PA 16801

    Sponsored
    For Lease
    $25 SF/Yr

    Downtown State College office space, 1,255-17,143 sq ft.

    Lot size:
    529,922 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This Class A, 12-story mixed-use building at 131 Hiester Street in State College, Pennsylvania offers prime office space for lease. The building totals 529,922 square feet, with a minimum divisible space of 1,255 square feet and a maximum contiguous space of 17,143 square feet. Currently, there are four suites available, with a total of 49,080 square feet of vacant space. The property features 130 parking spaces and is ideally located in the heart of downtown State College, within walking distance of numerous popular restaurants and retailers, including Dunkin', Chipotle, Urban Outfitters, Jimmy John's, and Primanti Bros. The building is also conveniently located a half block from Pennsylvania State University, a top 20 public research university with over 47,000 students. This vibrant location offers excellent visibility and accessibility, making it an ideal space for businesses seeking a thriving downtown presence. The building is part of a larger development that includes a 228-unit luxury student apartment building with over 755 beds. This ensures a high volume of foot traffic and a strong potential customer base. The property is situated in Centre County and has a 16801 zip code.

    Property Features for 131 Hiester St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    529,922 SF
    Class
    A
    Total Rate
    1104004.17

    Building Details

    Buildings
    1
    Stories
    12

    Unit(s) available at that property

    Space
    Floor 2 Space A
    Size
    4,906 SF
    Rate per SF
    $35
    Space
    Floor 2 Space B
    Size
    9,888 SF
    Rate per SF
    $35

    HighLights

    • Class A, 12‑story mixed‑use building totaling 529,922 square feet in downtown State College, PA.
    • 49,080 square feet of office space currently available for lease, divisible from 1,255 to 17,143 square feet.
    • 130 parking spaces on‑site.
    • Prime downtown location near Penn State University (47,000+ students) and numerous restaurants and retailers.
    • Located in Centre County, PA, zip code 16801, adjacent to a 228‑unit luxury student apartment building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.856444
    Latitude
    40.7968652

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    FAQs

    What type of property is this?
    Individual retail property - Downtown State College office space, 1,255-17,143 sq ft.
    Where is this individual retail property located?
    The property is located at 131 Hiester St State College, PA.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Class A, 12-story mixed-use building totaling 529,922 square feet in downtown State College, PA.; 49,080 square feet of office space currently available for lease, divisible from 1,255 to 17,143 square feet.; 130 parking spaces on-site.
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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
    131 Hiester St State College, PA 16801
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