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    Walnut St. @ Vesper St Lock Haven, PA 17745

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    Walnut St. @ Vesper St Lock Haven, PA 17745

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    • Lifestyle centers
    • 54,968 SF
    • 5.29 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 0 Walnut St. @ Vesper St

    Year built
    1979
    Lot size
    5.29 lot acres
    Property size
    54,968 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Clinton Plaza, a well-established shopping center located at Walnut St. @ Vesper St. in Lock Haven, Pennsylvania (zip code 17745), presents a compelling investment opportunity. This 54,968 square foot retail property boasts a strong 8.00% capitalization rate and a substantial net operating income (NOI) of $321,277. The asking price is $4,015,962, translating to a price per square foot of $73.06. Built in 1979, the property comprises two single-story buildings situated on a 5.29-acre lot. The center currently houses ten units, with a noteworthy 95% occupancy rate. Key tenants include Save A Lot, Rent A Center, PA State Fine Wine and Good Spirits (opened in 2022), Goodwill, and One Main Financial, demonstrating a diverse and stable tenant mix. The property benefits from its location in the heart of the Lock Haven community, close to Lock Haven University. Recent improvements include the milling and resurfacing of 70% of the parking lot, further enhancing its appeal. This property offers excellent potential for value-add buyers seeking a strong performing asset in a desirable location. The property's strong rental history and established tenant base make it an attractive investment opportunity with significant upside potential. The property's location near Lock Haven University provides a consistent stream of potential customers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lock Haven
    County
    Clinton
    State
    Pennsylvania
    Longitude
    -77.4465
    Latitude
    41.1329

    Comparable in this City

    • Value Estimation
      $995,000
      60,026 SF

      120 Walnut St

      SHOPPING CENTER, STRIP CENTER • 60,026 SF
      120 Walnut St, Lock Haven, PA 17745-3538
      View Details
    • Value Estimation
      $960,000
      79,784 SF

      1 Outlet Ln

      SHOPPING CENTER, STRIP CENTER • 79,784 SF
      1 Outlet Ln, Lock Haven, PA 17745-7815
      View Details
    • Value Estimation by Request
      14,170 SF

      601 Woods Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 14,170 SF
      601 Woods Ave, Lock Haven, PA 17745-3120
      View Details
    • Value Estimation by Request
      7,200 SF

      8 Vesper St

      WHOLESALE OUTLET, DISCOUNT STORE • 7,200 SF
      8 Vesper St, Lock Haven, PA 17745
      View Details
    • Value Estimation by Request
      33,000 SF

      1546 Woodward Ave

      Distribution properties • 33,000 SF
      1546 Woodward Ave, Lock Haven, PA 17745
      View Details
    • Value Estimation by Request
      12,436 SF

      126 Bellefonte Ave

      NURSERY, GREENHOUSE, FLORIST • 12,436 SF
      126 Bellefonte Ave, Lock Haven, PA 17745-1914
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      54,788 SF

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    • $1,550,000
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      Versatile Commercial Property For Sale

      19,800 SF commercial property with high-traffic location.
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    • $299,000
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      Commercial Lot in McElhattan, PA

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      Commercial Lot in McElhattan, PA

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    • $199,000
      2.47 Acres

      Commercial Lot in McElhattan, PA

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    Similar Nearby for Lease

    • Contact for pricing

      Office/Retail Plaza Near UPMC Center

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    • $10 SF/Yr
      904,741 SF

      Lock Haven Commercial Lease Opportunity

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      1 Outlet Ln, Lock Haven, PA 17745
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    • $1.00 SF/Yr
      81,457 SF

      Turnkey Office Suite in Lock Haven

      2,141 sq ft turnkey office suite for lease.
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    • $1.00 SF/Yr
      81,457 SF

      Lock Haven Professional Office Suites

      Professional office suites available in the heart of Lock Haven.
      24 Cree Dr, Lock Haven, PA 17745
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    • $1.00 SF/Yr
      81,457 SF

      Lock Haven Professional Office Suites

      Economical, well-maintained office suites in a recognizable Lock Haven building.
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    Lock Haven, PA 17745
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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.

    More about this property
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