1917 9Th AveAltoona, PA 16602

Property Details for 1917 9Th Ave

Year built

1980

Lot size

1.03 AC

Property size (Sq ft)

15,000 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

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.

Location Insight

City

Altoona

County

Blair

State

Pennsylvania

Latitude

40.5074

Longitude

-78.4044

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