0 Walnut St. @ Vesper StLock Haven, PA 17745

For Sale
$4,015,962

Lock Haven Retail Center - High NOI

Overview

Added:
Dec 11, 2024
Days on market:
93
Clinton Plaza, a well-established shopping center located at Walnut St. @ Vesper St. in Lock Haven, Pennsylvania (zip code 17745), presents a compelling investment opportunity. This 54,968 square foot retail property boasts a strong 8.00% capitalization rate and a substantial net operating income (NOI) of $321,277. The asking price is $4,015,962, translating to a price per square foot of $73.06. Built in 1979, the property comprises two single-story buildings situated on a 5.29-acre lot. The center currently houses ten units, with a noteworthy 95% occupancy rate. Key tenants include Save A Lot, Rent A Center, PA State Fine Wine and Good Spirits (opened in 2022), Goodwill, and One Main Financial, demonstrating a diverse and stable tenant mix. The property benefits from its location in the heart of the Lock Haven community, close to Lock Haven University. Recent improvements include the milling and resurfacing of 70% of the parking lot, further enhancing its appeal. This property offers excellent potential for value-add buyers seeking a strong performing asset in a desirable location. The property's strong rental history and established tenant base make it an attractive investment opportunity with significant upside potential. The property's location near Lock Haven University provides a consistent stream of potential customers.

Highlights

  • Clinton Plaza, a 54,968 SF retail center in Lock Haven, PA (17745), offers an 8.00% cap rate and $321,277 NOI.
  • Asking price: $4,015,962 ($73.06/SF).
  • Two single-story buildings on a 5.29-acre lot, built in 1979.
  • 95% occupancy with strong tenants including Save A Lot, Rent A Center, and PA State Fine Wine & Good Spirits.
  • Located near Lock Haven University with recent parking lot improvements.

Property Details for 0 Walnut St. @ Vesper St

Property type
Lifestyle centers, Power centers
Square Feet
54,968 SF
Year Built
1979
Buildings
2
Stories
1
Lot Size (sq. ft)
230,432 SF
Units
10

Location Insight

City
Lock Haven
County
Clinton
State
Pennsylvania
Latitude
41.132933
Longitude
-77.446544
Walnut St. @ Vesper St, Lock Haven, Pennsylvania

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0 Walnut St. @ Vesper St
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