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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

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    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.; ;
    Request Owner's contact information
    1917 9Th Ave Altoona, PA 16602
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    Altoona, PA 16602
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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
    1917 9Th Ave Altoona, PA 16602
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