2502 3Rd StWilliamsport, PA 17701

Property Details for 2502 3Rd St

Year built

1992

Lot size

1.24 AC

Property size (Sq ft)

6,096 SF

Property type

Retail properties

Property subtype

Banks

APN

26+,005.0-0322.00-000+

APU

260050032200000

Description

This exceptional 6,200 square foot vacant retail building presents a unique investment opportunity in Williamsport, Pennsylvania. Located at 2502 E 3rd St, this property sits on a 1.24-acre lot and boasts a highly desirable location directly adjacent to a top-performing Aldi grocery store (within the top 10% nationally). Built in 1992, the building is zoned COM P and offers versatile space suitable for a variety of uses, including convenience store, restaurant, or medical office, as indicated by its previous uses. The property is currently vacant, providing a blank canvas for a new tenant or owner-operator. The surrounding area demonstrates strong economic indicators, with a robust population base of over 54,000 residents within a 5-mile radius and an average household income exceeding $69,000. Further bolstering the area's appeal is the presence of two prominent colleges, Pennsylvania College of Technology (4,500+ students) and Lycoming College (1,000+ students), both within 3 miles. Major employers such as Susquehanna Health and Aramark also contribute to the area's economic vitality. Consumer spending is projected to increase by 9% in the next five years, indicating a promising outlook for future growth and profitability. The asking price for this prime retail space is $2,300,000. This property offers significant potential for investors seeking a strong return in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,447,071

  6.5%

  $1,335,758

  7%

  $1,240,346

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,403,437

  Geo Method

  $966,418

• Alternative Use

  Use

  Valuation

  Residential

  $1,126,762

  Hospitality

  $1,032,108

  Educational

  $858,701

  Medical

  $888,233

  Retail

  $1,335,758

Location Insight

City

Williamsport

County

Lycoming

State

Pennsylvania

Latitude

41.2468

Longitude

-76.9537

CBSA code

48700

CBSA name

WILLIAMSPORT, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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