0 Walnut St. @ Vesper StLock Haven, PA 17745

Property Details for 0 Walnut St. @ Vesper St

Year built

1979

Lot size

5.29 AC

Property size (Sq ft)

54,968 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Clinton Plaza, a well-established shopping center located at Walnut St. @ Vesper St. in Lock Haven, Pennsylvania (zip code 17745), presents a compelling investment opportunity. This 54,968 square foot retail property boasts a strong 8.00% capitalization rate and a substantial net operating income (NOI) of $321,277. The asking price is $4,015,962, translating to a price per square foot of $73.06. Built in 1979, the property comprises two single-story buildings situated on a 5.29-acre lot. The center currently houses ten units, with a noteworthy 95% occupancy rate. Key tenants include Save A Lot, Rent A Center, PA State Fine Wine and Good Spirits (opened in 2022), Goodwill, and One Main Financial, demonstrating a diverse and stable tenant mix. The property benefits from its location in the heart of the Lock Haven community, close to Lock Haven University. Recent improvements include the milling and resurfacing of 70% of the parking lot, further enhancing its appeal. This property offers excellent potential for value-add buyers seeking a strong performing asset in a desirable location. The property's strong rental history and established tenant base make it an attractive investment opportunity with significant upside potential. The property's location near Lock Haven University provides a consistent stream of potential customers.

Location Insight

City

Lock Haven

County

Clinton

State

Pennsylvania

Latitude

41.1329

Longitude

-77.4465

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