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Sold: 1031 East College Avenue

May 20, 2021
Sold: 1031 East College Avenue
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The PKA team sells former restaurant at 1031 East College Avenue, State College, PA 16801. The property is located in College Township along East College Avenue, northeast of Downtown State College and Pennsylvania State University. The asset offers a fully remodeled restaurant with overflow parking on two (2) separate parcels, within walking distance of Beaver Stadium, Penn State University, and Downtown State College. The area is served by Interstate 99, University Park Airport, and the Centre Area Transportation Authority (“CATA”). The site is between Pittsburgh and Philadelphia markets and their corresponding international airports.

HIGHLIGHTS

  • Building Space: 14,460 SF (7,320 SF – First Floor) + (7,320 SF – Lower Level)
  • Annual Taxes (2020): Parcel 1: $32,508.19 & Parcel 2: $943.10
  • Zoning: Gateway Commercial District (GC)
  • Acreage: Parcel 1: 0.69 acre (30,056 SF) & Parcel 2: 0.66 acre (28,750 SF)
  • Parking: Parcel 1: 32 on-site parking spaces, Parcel 2: 35 on-side parking spaces.
    • Note: Additionally, there is a shared parking agreement with adjacent hotel (Hampton Inn) for use of entire parking lot

The partners of Poole, Karch & Aumiller have over 90 years of combined experience buying, selling, and leasing a variety of commercial property types in Centre County, PA and surrounding areas.

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