2014 Sandy Dr State College, PA 16803

Property Details for 2014 Sandy Dr

Lot size

1.66 lot acres

Property type

Office buildings

APN

24-433-,021-,0000-

APU

244330210000

Description

This exceptional Class A medical office building, situated at 2014 Sandy Drive in State College, Pennsylvania's Science Park Commercial District, presents a compelling owner-user opportunity. The 9,202 square foot, single-story building, constructed in 2003, features two units currently configured as dental suites. One unit is occupied by Advanced Dentistry of Centre County under an absolute NNN lease extending to December 31, 2029, generating $9,893 in base rent plus approximately $3,444.23 in CAM charges (true-up at year-end). The tenant is credit-rated and responsible for 100% of directly metered utilities. The second unit is currently vacant but was previously leased by Advanced Dentistry. The building boasts ample parking for approximately 50 vehicles and two separate entrances for enhanced convenience. Both air conditioning units were replaced in 2023 and 2024, with the main unit upgraded to an energy-efficient heat pump. The property's current NOI is $97,007, with a pro-forma NOI of $173,127. The asking price is $3,200,000, representing a price per square foot of $347.75. The estimated annual CAM expenses range from $50,000 to $65,000, with the landlord responsible for 39.86% of shared CAM utilities. The PRD zoning provides flexibility for future use. This property offers significant potential for tax savings and cash flow, making it an ideal investment for owner-operators seeking a prime location in a thriving market. The building's strong tenant and lease terms, combined with its modern amenities and convenient location, make it a highly attractive investment opportunity.

Location Insight

City

State College

County

Centre

State

Pennsylvania

Longitude

-77.9019

Latitude

40.7851

CBSA code

44300

CBSA name

STATE COLLEGE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments