2901 College AveState College, PA 16801

Property Details for 2901 College Ave

Lot size

7.27 AC

Property type

Retail properties

Property subtype

Retail space

APN

19-002B,089A,0000-

APU

19002B089A0000

Description

This exceptional retail opportunity presents itself at the Nittany Mall, a prominent shopping center located at 2901 E College Ave in State College, Pennsylvania, 16801. The mall boasts a total of 533,000 square feet of retail space, offering a diverse range of tenancy options. Currently, there are multiple spaces available for lease, with a minimum divisible space of 595 square feet and a maximum contiguous space of 6,000 square feet. A significant amount of vacant space, totaling 74,092 square feet, presents a unique chance for businesses to establish or expand their presence within this thriving Centre County location. The property is ideally situated to capture significant foot traffic and offers excellent visibility. The flexible space options cater to a variety of retail needs, from smaller boutiques to larger retail establishments. This prime location in State College provides access to a robust consumer base and a strong local economy. The opportunity to lease space within the Nittany Mall represents a compelling investment in a well-established and successful retail environment. Interested parties should inquire about the available space and lease terms. The property is categorized as a shopping mall and is available for lease. The total building size is 533,000 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $94,256,736

  6.5%

  $87,006,216

  7%

  $80,791,488

• Comparable approach

  Method

  Valuation

  Relative Method

  $79,796,400

  Geo Method

  $50,204,452

• Alternative Use

  Use

  Valuation

  Residential

  $73,393,000

  Hospitality

  $67,227,592

  Educational

  $55,932,568

  Medical

  $57,856,176

  Retail

  $87,006,216

Location Insight

City

State College

County

Centre

State

Pennsylvania

Latitude

40.8316

Longitude

-77.8027

CBSA code

44300

CBSA name

STATE COLLEGE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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