Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    103 Westerly Pkwy State College, PA 16801
    Back to Search
    Property profile & analytics

    103 Westerly Pkwy State College, PA 16801

    View on Map
    • Dormitories
    • 936 SF
    Off-Market
    Property ID
    US73-3683358
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dormitories

    Property Details for 103 Westerly Pkwy

    Property size
    936 SF
    Property type
    Dormitories
    Property subtype
    Student housing

    Description

    This exceptional investment opportunity presents a four-unit student housing portfolio ideally situated in State College, Pennsylvania. Priced at $1,300,000, this portfolio offers a compelling 6.50% cap rate and a price per unit of $325,000. The portfolio comprises four properties: two single-family homes, a condo unit, and a double, totaling 936 to 1,975 square feet. Three of the four units are currently leased for the 2024-2025 academic year, ensuring immediate cash flow. All properties are conveniently located within walking or driving distance of Penn State University, capitalizing on the consistently high demand for student rentals in this thriving college town. The properties are zoned residential and represent a strong investment in a dynamic rental market fueled by the approximately 47,000 students and 44,000 employees associated with Penn State University, the largest public university in Pennsylvania and the ninth largest in the U.S. This portfolio offers a rare chance to acquire a well-positioned, income-generating asset in a highly sought-after location. The properties are located at 103 Westerly Pkwy, State College, PA 16801, within Centre County. This is a Class B multifamily investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.8507832
    Latitude
    40.7871298

    Comparable in this City

    • New
      $425,000
      1,800 SF

      State College Duplex Investment Opportunity

      Fully leased duplex near Penn State with strong rental demand.
      1317-1319 University Dr, State College, PA 16801
      View Details
    • $1,800,000
      0.94 Acres

      State College Office Building

      Prime University Drive Location
      911 University Dr, State College, PA 16801
      View Details
    • Contact for pricing

      Commercial Land Near Retail Hub

      5.79-acre commercial lot ideal for various business types.
      Dreibelbis St, State College, PA 16801
      View Details
    • Contact for pricing

      Prime Land Near I-99

      6.6 acres near I-99, ideal for commercial development.
      1001 Shiloh Rd, State College, PA 16801
      View Details
    • Contact for pricing

      Class-A Office Building Opportunity

      Class-A office building for lease, purchase, or investment.
      476 Rolling Ridge Dr, State College, PA 16801
      View Details
    • Contact for pricing

      44 Acre Development Opportunity

      44 acres near Penn State, ideal for new development.
      2181 W Whitehall Rd, State College, PA 16801
      View Details

    Similar Nearby for Sale

    • New
      $425,000
      1,800 SF

      State College Duplex Investment Opportunity

      Fully leased duplex near Penn State with strong rental demand.
      1317-1319 University Dr, State College, PA 16801
      View Details
    • $1,800,000
      0.94 Acres

      State College Office Building

      Prime University Drive Location
      911 University Dr, State College, PA 16801
      View Details
    • Contact for pricing

      Commercial Land Near Retail Hub

      5.79-acre commercial lot ideal for various business types.
      Dreibelbis St, State College, PA 16801
      View Details
    • Contact for pricing

      Prime Land Near I-99

      6.6 acres near I-99, ideal for commercial development.
      1001 Shiloh Rd, State College, PA 16801
      View Details
    • Contact for pricing

      Class-A Office Building Opportunity

      Class-A office building for lease, purchase, or investment.
      476 Rolling Ridge Dr, State College, PA 16801
      View Details
    • Contact for pricing

      44 Acre Development Opportunity

      44 acres near Penn State, ideal for new development.
      2181 W Whitehall Rd, State College, PA 16801
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Location in Autoport District

      High-end neighborhood development near Penn State University.
      1405 S Atherton St, State College, PA 16801
      View Details
    • Contact for pricing

      Downtown Corner Retail/Office Space

      Versatile street-level space in downtown State College, ideal for various uses.
      300 S Allen St, State College, PA 16801
      View Details
    • Contact for pricing

      Prime Retail Development Opportunity

      Land available for lease near Penn State and Beaver Stadium.
      1230 E College Ave, State College, PA 16801
      View Details
    • Contact for pricing

      Prime Corner Retail/Restaurant Space

      Retail/restaurant space for lease in downtown State College, PA.
      131 Hiester St, State College, PA 16801
      View Details
    • Contact for pricing

      Retail Space in Orchard Square

      Retail space for lease near Penn State University.
      3283 W College Ave, State College, PA 16801
      View Details
    • Contact for pricing

      2.13 Acres Subdividable Land

      2.13 acres of land for rent, subdividable.
      Shiloh Rd, State College, PA 16801
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    103 Westerly Pkwy
    State College, PA 16801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    103 Westerly Pkwy, State College, PA, 16801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!