7505 Huntingdon PlzHuntingdon, PA 16652

Property Details for 7505 Huntingdon Plz

Year built

1972

Lot size

16.04 AC

Property size (Sq ft)

138,695 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This 138,695 square foot shopping center in Huntingdon, Pennsylvania, presents a compelling value-add investment opportunity. Anchored by Aldi, with a new 10-year lease, the property boasts a strong tenant mix including Wendy's, AutoZone, Fresenius Kidney Care, Ollie's, Bealls, Anytime Fitness, and Rent-A-Center. Currently operating at 90.74% occupancy, the center offers significant upside potential with approximately 12,850 square feet of vacant space and room for additional outlots. The average rent is $7.00 per square foot, well below replacement cost, and a mix of long-term and short-term leases provides flexibility. Built in 1972 and renovated in 2023, the property sits on 16.04 acres and features 16 units. The strong net operating income (NOI) of $619,741 contributes to an attractive 7.26% capitalization rate. The property benefits from a large trade area with significant barriers to entry due to the surrounding Appalachian terrain. Approximately 45% of the gross leasable area (GLA) has seven or more years remaining on its lease. Scheduled rent bumps further enhance the investment's long-term value. The asking price is $8,540,000, translating to $61.57 per square foot.

Location Insight

City

Huntingdon

County

Huntingdon

State

Pennsylvania

Latitude

40.4807

Longitude

-78.0171

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