For Sale
$699,000

1917 9Th AveAltoona, PA 16602

High-yield investment, 15,000 SF

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional Altoona, Pennsylvania industrial property, located at 1917 9th Avenue, presents a compelling investment opportunity. The property encompasses 15,000 square feet of net rentable space across two single-story buildings on a 1.03-acre lot, built in 1980 and zoned for industrial use. Currently 100% occupied by a single tenant under a modified net lease with a remaining term of approximately 4.4 years (expiring March 31, 2029), the property boasts a strong current NOI of $60,000, translating to an attractive 8.58% cap rate. The pro-forma NOI is $57,500, resulting in an 8.23% pro-forma cap rate. The lease commenced April 1, 2024, and includes lease options. The tenant is responsible for all utilities and taxes. The property features 3 loading docks, 14 dock-high doors, and a generous 19-foot ceiling height. The asking price is $699,000, or $46.60 per square foot. This is a rare opportunity to acquire a well-located, income-producing industrial property with significant upside potential. The property's APN is 1.06-09-009, 010, 013.

Highlights

  • NNN Lease: Tenant responsible for all utilities and property taxes.

Property Details for 1917 9Th Ave

Property type
Warehouses, Industrial properties
Square Feet
15,000 SF
Year Built
1980
Buildings
2
Stories
1
Lot Size (sq. ft)
44,867 SF

Location Insight

City
Altoona
County
Blair
State
Pennsylvania
Latitude
40.50743
Longitude
-78.4043713
1917 9Th Ave, Altoona, Pennsylvania

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1917 9Th Ave
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