For Sale
$699,000

1917 9Th Ave Altoona, PA 16602

High-yield investment, 15,000 SF

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Warehouse - High-yield investment, 15,000 SF
Where is the warehouse located?
The property is located at 1917 9Th Ave Altoona, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: NNN Lease: Tenant responsible for all utilities and property taxes.; ;
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1917 9Th Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message