2766 College Ave State College, PA 16801-2647
- Office buildings
- 0.12 lot acres
Current Use by Public Records
- Scraps & Skeins / Craft Store
- Board & Brush Creative Studio - State College / Art Studio / Artistic Handicrafts
- Old Main Frame Shop & Gallery / Digital Printing Service / Interior Designer
- Long Ridge Construction / Home Builder
- Amy Flick / Physical Therapist
Property Details for 2766 College Ave
- Lot size
- 0.12 lot acres
- Property type
- Office buildings
- APN
- 24-004-,070R,0005-
- APU
- 24004070R0005
Description
Ferguson Square, located at 2766 W College Ave in State College, PA (16801), offers exceptional commercial space for lease. This 15,000 square foot, two-story Class B building, constructed in 1983 and renovated in 2015, sits on 1.44 acres of land and boasts 150 parking spaces. Two available suites, totaling 4,069 square feet of vacant space, offer flexible layouts ranging from 1,919 to 2,150 square feet each, with the possibility of combining for a total of approximately 4,000 square feet. Each suite features a private entrance and restrooms, and the free-span structure allows for easy customization to suit tenant needs. Previously used for medical offices, these versatile spaces are ideal for a variety of uses, including medical, retail, restaurant, or general office. The building benefits from high visibility and signage along West College Avenue, a high-traffic corridor with significant residential and business density. Ample free parking is available directly in front of the building. The property is zoned commercial and features a 10-foot ceiling height. Utilities are not included in the competitive lease rate of $18.50 per square foot per year (triple-net and CAM charges are included). The property's location benefits from recent and planned developments of student housing and residential projects in the immediate vicinity, creating a strong potential customer base. This presents a unique opportunity for businesses seeking a prime location in a thriving area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $245,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $210,000
- 6.5%
- $210,000
- 7%
- $190,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $160,000
- Geo Method
- $180,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $220,000
- Retail
- $190,000
- Mixed-Use
- $195,000
- Hospitality
- $175,000
- Educational
- $205,000
- Residential Income
- $165,000
- Energy
- $170,000
- Income-Based Land
- $165,000
- Food Service
- $215,000
Location Insight
- Map
- Local Demand
- City
- State College
- County
- Centre
- State
- Pennsylvania
- Longitude
- -77.8822
- Latitude
- 40.7648
- CBSA code
- 44300
- CBSA name
- STATE COLLEGE, PA METROPOLITAN STATISTICAL AREA