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1917 9Th Ave Altoona, PA 16602

For Sale
$699,000

High-yield investment, 15,000 SF

Property size:
15,000 SF

Description

Added:
Dec 11, 2024
Days on Market:
369
This exceptional Altoona, Pennsylvania industrial property, located at 1917 9th Avenue, presents a compelling investment opportunity. The property encompasses 15,000 square feet of net rentable space across two single-story buildings on a 1.03-acre lot, built in 1980 and zoned for industrial use. Currently 100% occupied by a single tenant under a modified net lease with a remaining term of approximately 4.4 years (expiring March 31, 2029), the property boasts a strong current NOI of $60,000, translating to an attractive 8.58% cap rate. The pro-forma NOI is $57,500, resulting in an 8.23% pro-forma cap rate. The lease commenced April 1, 2024, and includes lease options. The tenant is responsible for all utilities and taxes. The property features 3 loading docks, 14 dock-high doors, and a generous 19-foot ceiling height. The asking price is $699,000, or $46.60 per square foot. This is a rare opportunity to acquire a well-located, income-producing industrial property with significant upside potential. The property's APN is 1.06-09-009, 010, 013.

Property Features for 1917 9Th Ave

General Information

Property type
Distribution properties
Square Feet
15,000 SF
Lot Size
44,867 SF

Building Details

Year Built
1980
Buildings
2
Stories
1

HighLights

  • NNN Lease: Tenant responsible for all utilities and property taxes.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Manufacturing properties

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

Location Insight

  • Map
  • Local Demand
City
Altoona
County
Blair
State
Pennsylvania
Longitude
-78.4043713
Latitude
40.50743

FAQs

What type of property is this?
Distribution property - High-yield investment, 15,000 SF
Where is this distribution property located?
The property is located at 1917 9Th Ave Altoona, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: NNN Lease: Tenant responsible for all utilities and property taxes.; ;
More about this property
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