Current Use by Public Records
- bealls / Clothing Store / Baby Clothing Store
Property Details for 7505 Huntingdon Plz
- Year built
- 1972
- Lot size
- 16.04 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 138,695 square foot shopping center in Huntingdon, Pennsylvania, presents a compelling value-add investment opportunity. Anchored by Aldi, with a new 10-year lease, the property boasts a strong tenant mix including Wendy's, AutoZone, Fresenius Kidney Care, Ollie's, Bealls, Anytime Fitness, and Rent-A-Center. Currently operating at 90.74% occupancy, the center offers significant upside potential with approximately 12,850 square feet of vacant space and room for additional outlots. The average rent is $7.00 per square foot, well below replacement cost, and a mix of long-term and short-term leases provides flexibility. Built in 1972 and renovated in 2023, the property sits on 16.04 acres and features 16 units. The strong net operating income (NOI) of $619,741 contributes to an attractive 7.26% capitalization rate. The property benefits from a large trade area with significant barriers to entry due to the surrounding Appalachian terrain. Approximately 45% of the gross leasable area (GLA) has seven or more years remaining on its lease. Scheduled rent bumps further enhance the investment's long-term value. The asking price is $8,540,000, translating to $61.57 per square foot.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Huntingdon
- County
- Huntingdon
- State
- Pennsylvania
- Longitude
- -78.0171
- Latitude
- 40.4807
