116 Penn StBellefonte, PA 16823

Property Details for 116 Penn St

Lot size

0.08 AC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

32-201-,010-,0000-

APU

322010100000

Description

This exceptional mixed-use property at 116 S Penn Street, Bellefonte, PA, presents a unique investment opportunity. The 3,002 square foot building sits on a 0.14-acre lot and is currently home to a thriving Italian restaurant. The sale includes the real estate and offers immediate rental income of $925 per month from an existing apartment. The current restaurant owner is offering the sale of the business and its chattel (appliances, etc.) separately for $179,700, including recipes. This turnkey operation provides a seamless transition for a new owner. Alternatively, the property's versatile layout and ample parking offer significant potential for a variety of commercial ventures. The building could easily be adapted to suit a wide range of businesses, from retail spaces to Airbnbs, capitalizing on Bellefonte's growing commercial market. The property's location within a vibrant and active commercial community ensures strong potential for return on investment. The asking price for the real estate is $359,300. Interested parties are encouraged to inquire about the diverse business possibilities permitted at this address. This property offers a blend of immediate income generation and long-term growth potential, making it an attractive proposition for savvy investors.

• CAP approach

  CAP return

  Valuation

  6%

  $982,828

  6.5%

  $907,226

  7%

  $842,424

• Comparable approach

  Method

  Valuation

  Relative Method

  $859,254

  Geo Method

  $552,488

• Alternative Use

  Use

  Valuation

  Residential

  $765,279

  Hospitality

  $700,992

  Educational

  $583,217

  Medical

  $603,275

  Retail

  $907,226

Location Insight

City

Bellefonte

County

Centre

State

Pennsylvania

Latitude

40.9118

Longitude

-77.7761

CBSA code

44300

CBSA name

STATE COLLEGE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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