$2,500,000
$2,550,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
2014 SANDY DR State College, PA 16803
9,100 SqFt
Key Details
Sold Price $2,500,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 9,100 sqft
Price per Sqft $274
Subdivision None Available
MLS Listing ID PACE2001006
Sold Date 06/30/20
Style Other
Abv Grd Liv Area 9,100
Originating Board CCAR
Year Built 2003
Annual Tax Amount $22,687
Tax Year 2020
Lot Size 0.760 Acres
Acres 0.76
Property Description
Property Fully Leased!! Agents, 2014 Sandy Drive presents your investors with a truly rare commercial investment opportunity. This Roeshot built property is second to none in terms of craftsmanship, materials and finishes. The highly successful dental business/tenant leases the entire building. In October of 2019 the tenant signed a new, 10 year guaranteed, lease. The lease is a true NNN lease, the owner does not pay any expenses on the property including exterior maintenance and property taxes. Lease rates are excellent and set to increase in 2023. With a very high NOI, at $2.55M valuation places the CAP Rate at 7%. After 2023 rent increases, a 7% CAP increases the valuation to $2.9M. See attachment for additional investment highlights.
Location
State PA
County Centre
Area Ferguson Twp (16424)
Zoning CO
Interior
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Roof Type Shingle
Street Surface Paved
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District State College Area
Others
Tax ID 24-443-021-0000
Ownership Other
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Financing Cash,Other
Special Listing Condition Standard
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Bought with Marc Mcmaster • RE/MAX Centre Realty