2014 Sandy Drive

State College, PA 16803 View Map $2,500,000 Ask a Question
Sq.Ft.9,100
Year2003
2014 Sandy Drive State College, PA 16803 | commercial property for sale | KBB Photo 1
2014 Sandy Drive State College, PA 16803 | commercial property for sale | KBB Map
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Status: Sold
Property Type:Commercial
MLS #:67583
Sq. Feet:9,100
Date Sold:6/30/2020
Lot Size:0.76 Acres
County:Centre
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.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
7/1/2020$2,550,000$2,500,000-2%

Community Information

Address:2014 Sandy Drive State College, PA 16803
County:Centre
City:State College
School District:State College
Zip Code:16803
Municipality:24-Ferguson Township

Features / Amenities

Business Type: Professional/Office
Business Features: Office Space
Building Features: Sprinkler
A/C Type: Central
Heat Type: Forced Air
Fuel Type: Natural Gas

Property Features

Lot Size: 0.76 Acres
Water: Public
Sewer: Public Sewer
Driveway: Brick
Roads: Paved
Zoning:CO
Directions:North on Science Park Rd. Sandy Drive on Right, Property on Corner

Tax and Financial Info

Total Taxes: $22,687
Tax Year: 2020
Finance Type: Cash, Commercial Loan

Listing Agent/Office

Listing provided courtesy of David Fonash, Kissinger Bigatel & Brower/S.

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Listing Information Last Updated 6/29/2022