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321 W Beaver Ave
12,925 SF Office Building State College, PA 16801 £11,671,170 (£903/SF)
Investment Highlights
- 1 Block from Penn State University - Downtown Gateway Corner Lot
- - Appx 18,000 traffic Load - Walk Score 96 - thousands of foot traffic per day
- .61 acre lot in Commercial Incentive District -
Executive Summary
Gateway Corner Lot to Downtown State College, 1 block from Penn State University Main Campus. Home to 47,000 students from 145+ nations gives this town a world class life style, cuisine, art, music, and community. This town is exploding in expansion, growth, and growing “up” with high-rises taking this town to a city look and fell in the past 7 years from the COMMERCIAL INCENTIVE DISTRICT which this .61 acre corner lot falls. Business Rt 322, State Highway Between Atlantic City, NJ and Cleveland, OH, with a downtown traffic load of approximately 18,000 and a WALK SCORE of 96, it is a Walker’s Paradise with thousands of daily foot traffic.
The present long-term tenant’s lease expires 12/31/2024 providing time for design, permits, and the new future of this long anticipated opportunity. This lot has not sold in 67 years and now is the time in the new millenium to make a mark and create a legacy. With the incentives offered, it is possible to build a new structure to 95’. Retail, offices, hotel, and professional condos are all within possibilities with coordination and compliance with zoning incentives.
Please call Karen Clark @ (814) 360-5331 or Paul Confer @ (814) 404-1541 for more details or go to www.PrimeCornerLot.com
The present long-term tenant’s lease expires 12/31/2024 providing time for design, permits, and the new future of this long anticipated opportunity. This lot has not sold in 67 years and now is the time in the new millenium to make a mark and create a legacy. With the incentives offered, it is possible to build a new structure to 95’. Retail, offices, hotel, and professional condos are all within possibilities with coordination and compliance with zoning incentives.
Please call Karen Clark @ (814) 360-5331 or Paul Confer @ (814) 404-1541 for more details or go to www.PrimeCornerLot.com
Data Room Click Here to Access
Financial Summary (Actual - 2021) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£81,880
|
£6.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£81,880
|
£6.34
|
| Taxes |
£29,271
|
£2.26
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£29,271
|
£2.26
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2021)
| Gross Rental Income | |
|---|---|
| Annual | £81,880 |
| Annual Per SF | £6.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £81,880 |
| Annual Per SF | £6.34 |
| Taxes | |
|---|---|
| Annual | £29,271 |
| Annual Per SF | £2.26 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £29,271 |
| Annual Per SF | £2.26 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts Under Contract
Sale Type
Investment
Sale Condition
Development Sale
Property Type
Office
Property Subtype
Building Size
12,925 SF
Building Class
C
Year Built
1960
Price
£11,671,170
Price Per SF
£903
Tenancy
Single
Number of Floors
1
Typical Floor Size
12,925 SF
Building FAR
0.96
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
Commercial Incentive Dist - Commercial Incentive District - up to 65' and with all incentives potential for a new structure up to 95'
Parking
12 Spaces (0.92 Spaces per 1,000 SF Leased)
Amenities
- Signage
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £361,062 (2024) | |
| Land Assessment | £99,311 (2024) | Annual Taxes | £29,271 (£2.26/sf) |
| Improvements Assessment | £261,751 (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£99,311 (2024)
Improvements Assessment
£261,751 (2024)
Total Assessment
£361,062 (2024)
Annual Taxes
£29,271 (£2.26/sf)
Tax Year
2021
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321 W Beaver Ave
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