UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PACE2517234
Year Built 1985
Annual Tax Amount $2,907
Tax Year 2025
Lot Dimensions 0.00 x 0.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Looking for the perfect investment property? The property is currently leased. Currently leased through December 2027. Easily accessible off South Atherton Street, providing high visibility and convenience for clients and employees alike.
The tenant is responsible for all condo expenses, including utilities, real estate taxes, insurance, and monthly condo association fees, making this a true NNN-style investment with minimal landlord obligations. The lease also provides one remaining two-year renewal option, extending upside and stability for the next owner.
Investment Highlights:
In-place lease through December 2027
Current rent: $1,255.54/month
Tenant pays all expenses: utilities, taxes, insurance, and condo fees
One (1) two-year renewal option remaining
Great Year 1 cash-on-cash return
Low-maintenance, passive investment
Location
State PA
County Centre
Area State College Boro (16436)
Zoning PLANNED COMMERCIAL 2 (CP2
Interior
Hot Water Electric
Heating Other
Cooling Central A/C
Flooring Vinyl, Carpet
Heat Source Electric
Exterior
Garage Spaces 1.0
Water Access N
Roof Type Shingle
Accessibility None
Total Parking Spaces 1
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District State College Area
Others
Tax ID 36-026-,043-,1368-
Ownership Condominium
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Nearby Schools and Properties
- 10
Radio Park Elementary
Public | KG - 5
- 7
Young Scholars of Central PA Charter School
Public | KG - 8
- 7
Corl Street Eementary
Public | KG - 5
- 7
Houserville/Lemont Elementary
Public | KG - 5
- 6
Centre Learning Community Charter School
Public | 5 - 8
- 5
Easterly Parkway Elementary
Public | KG - 5
- 5
Mount Nittany Elementary
Public | KG - 5
- 0
NW Human Services Autism School
Private | 2 - 9
- 0
The Goddard School
Private | PK - KG
- 0
Our Lady of Victory Catholic School
Private | KG - 8
- 0
Nittany Christian School
Private | KG - 8
- 0
Our Children's Center
Private | PK - KG
- 0
Bennett Family Center
Private | PK - KG
- 0
Grace Lutheran Preschool & Kindergarten
Private | PK - KG
- 0
Nittany Valley Charter School
Public | 1 - 8
- 0
State College Friends School
Private | PK - 8
- 0
Montessori School of the Nittany Valley
Private | PK - KG
- 8
Mount Nittany Middle School
Public | 6 - 8
- 8
State College Area High School
Public | 9 - 12
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Giovanni Maggipinto
Realtor Associate | License ID: 1644529
Realtor Associate License ID: 1644529