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    Commercial Land Near Retail Hub Title is generated by Realmo AI

    Dreibelbis St, State College, PA 16801

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    5.79-acre commercial lot ideal for various business types.

    Type:Land
    Lot size:
    5.79 Acres
    Added:
    May 23, 2024
    Days on Market:
    742
    Last Refresh:
    May 12 at 8:52 pm

    Property Features for Dreibelbis St

    General Information

    Standard status
    Active
    Lot size
    5.79 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Luke Higgins

    Listing agent Luke Higgins License #PA RS369238

    Listing office Bennett Williams Commercial

    Listing date May 23, 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 Bennett Williams Commercial

    HighLights

    • Prime commercial location bordering Sam’s Club, Walmart, and the Holliday Inn in a high‑traffic area of State College.
    • Versatile lot with subdivision options ranging from 0.5 to 5.79 acres, suitable for various commercial developments.
    • Public water, sewer, and gas available, simplifying development and reducing infrastructure costs.
    • Located in the Mall Trade area with proximity to Nittany Mall, Benner Pike Shops, and other major retailers.
    • Easy access from Benner Pike and Dreibelbis St, ensuring convenient customer and employee access.
    • Close proximity to Downtown State College, Pennsylvania State University, and University Park Airport.

    Overview

    A 5.79-acre commercial property is available for sale or lease on Dreibelbis Street in State College, Pennsylvania. The flat lot, which can be subdivided into parcels ranging from 0.5 to 5.79 acres, offers access to public water, sewer, and gas. Situated in the Mall Trade area of College Township, Centre County, it is part of the State College MSA. The location is a few miles northeast of Downtown State College and Pennsylvania State University, near the Nittany Mall, Benner Pike Shops, Walmart, and Sam’s Club. The property is suitable for various commercial uses, including banks, restaurants, offices, retail, light industrial, R&D, medical facilities, churches, schools, and daycare centers. The site is within walking distance of Walmart, Barnes & Noble, Good Will, Perkins, Goodwill, Quaker Steak, Joann Fabric, Rey Azteca, Sheetz, Tractor Supply, Ross for Less, Prospector’s, Taco Bell, and Aldi’s. Easy access is available from Benner Pike or Dreibelbis Street. The surrounding area features a mix of single-family homes, multi-family residences, and student housing developments along the E College/Benner Pike corridor. Shiloh Road, a major thoroughfare from I-99, intersects with Benner Pike and has Sheetz, the Best Western, and UEC Theaters. New residential and retail developments are planned for the coming months in the trade area, which serves the residents of Eastern State College and Bellefonte.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.8079093
    Latitude
    40.835182

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    FAQs

    What type of property is this?
    Commercial land - 5.79-acre commercial lot ideal for various business types.
    Where is this commercial land located?
    The property is located at Dreibelbis St State College, PA.
    What are key features of this property?
    This property features: Prime commercial location bordering Sam’s Club, Walmart, and the Holliday Inn in a high‑traffic area of State College.; Versatile lot with subdivision options ranging from 0.5 to 5.79 acres, suitable for various commercial developments.; Public water, sewer, and gas available, simplifying development and reducing infrastructure costs.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Luke Higgins
    Real Estate License ID: PA RS369238
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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