1413 11TH AVE, ALTOONA, PA 16601-3303 For Sale

Unlock the potential of this prime downtown Altoona commercial property! Formerly home to a successful restaurant, the building still features a fully equipped commercial kitchen complete with existing hood systems, making it an excellent opportunity for another restaurant or food service concept. Prefer a different use? The main level can easily be transformed into a retail storefront, showroom, or other commercial space.

The lower level, previously operated as a club, offers its own unique possibilities with exterior egress on both sides, existing restroom facilities, and a flexible layout ideal for entertainment, events, or additional business use.

Upstairs, the second floor is a blank canvas waiting to be brought to life. With its own separate entrance, it provides endless opportunities for office space, apartments (subject to approvals), creative studios, or expanded commercial use.

Downtown Altoona has very limited commercial inventory, making opportunities like this increasingly rare. As an added bonus, the property is located within a Federal Opportunity Zone, offering significant potential tax incentives for qualifying investors, including:

• Capital Gains Deferral: By reinvesting eligible capital gains into a Qualified Opportunity Fund (QOF) within 180 days of the sale of another asset, investors may defer federal taxes on those gains, subject to applicable IRS rules.
• Tax Elimination on New Growth: If the Qualified Opportunity Fund investment is held for at least 10 years, capital gains attributable to the appreciation of the Opportunity Zone investment may be excluded from federal capital gains tax, subject to current law and IRS requirements.

Whether you're an owner-occupant, investor, or developer, this property offers an exceptional combination of location, flexibility, and long-term upside.