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15159590
15159591

2014 Sandy Dr, State College, PA 16803

MM
PA AB067113
RE/MAX Centre Realty
Listed by RE/MAX Centre Realty
$2,890,000
838 days on market
Updated 49 days ago

2014 Sandy Drive

Details
Property Type Office
Sub Type Medical Office
Square Footage 9,202
Units 2
NOI $97,007
Occupancy 60%
Tenancy Multi
Lease Type Absolute NNN
Lease Expiration 12/31/2029
Remaining Term 3.6
Pro-Forma NOI $173,127
Price per SqFt $314
Broker Co-Op Yes
Class A
Year Built 2003
Buildings 1
Stories 1
Zoning PRD
Investment Type Owner/User
Tenant Credit Credit Rated

Medical office space fully ready for tenants

Marketing description

2014 Sandy is a two-unit dental office located west of Penn State University in the Science Park Commercial District

Class A Medical Building; with both units configured as Dental

1 Unit occupied by Advanced Dentistry of Centre county, 1 Unit Currently Vacant (as of 1/31/2024) – Vacant unit was leased previously by Advanced Dentistry

Two separate entrances with parking for approximately 50 cars

Both AC units replaced in 2023 and 2024. Main unit converted to energy efficient heat pump.

Advanced Dentistry on an Absolute NNN Lease

$9893 Direct rent + $3444.23 Additional rent (for Cam Expenses; True up at YE); Leased through 2029

100% of directly metered utilities

60.14% of CAM utilities shared across the two spaces specifically: Building Insurance, Landscaping/Snow, Permits, Property Tax, Repairs, Pest, Water/Sewer

Estimated 199% Cam is approximately $50,000- $65,000 per year

Ideal opportunity for Owner Operator

Why pay a landlord $22/sqft + Utilities when you potentially have 100% of your building expenses and a new mortgage paid for by other tenants and income tax savings?

Estimated +$75,000 Annual tax savings and $30,000 after tax cash flow improving all while paying no rent (assuming 37% income bracket

Medical professionals and businesses receive superior financing terms

Favorable mortgage terms for Dentists and Small business Owners further enhance cash flow

Owner financing options also available

Listing Contacts

MM
PA AB067113
RE/MAX Centre Realty
Listed by RE/MAX Centre Realty

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$97,007.00
$8,083.92/mo

Valuation Metrics

0
DSCR
3.36%
Cap Rate
3.36%
ROI

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