2583 Gtwy Dr State College, PA 16801-3098
- Office buildings
- 2.01 lot acres
Current Use by Public Records
- Everhart Life Sport Recovery / Physical Fitness Program / Personal Trainer
- Bristol Place I / Corporate Office
Property Details for 2583 Gtwy Dr
- Lot size
- 2.01 lot acres
- Property type
- Office buildings
- APN
- 24-465-,002-,0000-
- APU
- 244650020000
Description
This exceptional two-story office building, situated on a 2.01-acre lot in State College, Pennsylvania, presents a compelling investment opportunity. The 21,500 square foot building, constructed in 2001, boasts a desirable location at 2583 Gateway Dr, 16801, with ample on-site parking. Currently housing one tenant with 14% occupancy, this multi-tenant property offers significant upside potential. The building is divided into four divisible spaces, allowing for flexible configurations to suit various business needs and potentially increase rental income. The IRD (Corridor Overlay) zoning permits a range of uses. With its well-maintained structure and efficient design, this property offers immediate occupancy, eliminating the lengthy and costly process of new construction. The asking price is $4,000,000, translating to $186.05 per square foot. This represents a strong value proposition in the current market, considering the building's size, location, and potential for increased occupancy and rental revenue. The property's APN is 24-465-,002-,0000-. This is a turnkey solution for an owner-occupier seeking to establish a presence in a thriving market, while simultaneously generating income from additional rental units. The building's solid construction and prime location make it an attractive investment for both short-term and long-term growth.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- State College
- County
- Centre
- State
- Pennsylvania
- Longitude
- -77.8839
- Latitude
- 40.7669
- CBSA code
- 44300
- CBSA name
- STATE COLLEGE, PA METROPOLITAN STATISTICAL AREA
