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Investment Highlights

  • Stable NNN lease in place through December 2027 with one renewal option remaining.
  • Desirable CP2 zoning accommodating diverse office and medical uses.
  • Easily accessible single-story property with on-site parking and natural light interiors.
  • Annual rent increases tied to CPI starting in 2026 for sustained income growth.
  • Convenient frontage along S Atherton Street with direct routes to downtown State College.
  • Strong regional economic base supported by Penn State University and healthcare employment clusters.

Executive Summary

Great investment opportunity. The tenant is responsible for all condo expenses, including utilities, real estate taxes, insurance, and monthly condo association fees, making this a true NNN-style investment with minimal landlord obligations. The lease also provides one remaining two-year renewal option, extending upside and stability for the next owner. Investment Highlights: In-place lease through December 2027 Current rent: $1,255.54/month Annual CPI rent increases beginning in 2026. Tenant pays all expenses: utilities, taxes, insurance, and condo fees One (1) two-year renewal option remaining Great Year 1 cash-on-cash return Low-maintenance, passive investment

1 Unit Available

  • Unit
  • Unit Size
  • Condo Use
  • Price
  • NOI
  • Unit 1368
  • 695 SF
  • Office/Medical
  • $210,449 CAD ($302.80 CAD/SF)
  • -
Sale Type Investment
No. Parking Spaces 1
Description
Reception area, conference room, private office and in suite restroom & storage.
Sale Notes
Southwood Office Complex presents an appealing investment opportunity located along S Atherton Street in State College, a key commercial corridor with close proximity to Penn State University and robust residential and retail markets. The available office/medical condominium unit is currently leased under a true NNN arrangement, minimizing landlord involvement while providing stable income. The existing tenant agreement includes annual CPI-based rent adjustments beginning in 2026 and one remaining two-year renewal option, reinforcing long-term security for potential buyers.
Positioned on a parcel of nearly an acre, the property benefits from frontage on a high-visibility route with steady traffic counts and access to major local arteries leading into downtown State College. The building’s CP2 zoning supports a range of professional and medical uses, offering lasting flexibility and appeal to occupants. Ample surface parking and single-story design support smooth tenant operations and accessibility. The combination of low-maintenance structure, consistent cash flow, and surrounding economic strength makes this office condominium a practical solution for investors seeking reliable returns in an environment with enduring demand drivers led by education, healthcare, and business service sectors.
Unit Unit Size Condo Use Price NOI
Unit 1368 695 SF Office/Medical $210,449 CAD ($302.80 CAD/SF) -

Unit 1368

Unit Size
695 SF
Condo Use
Office/Medical
Price
$210,449 CAD ($302.80 CAD/SF)
NOI
-

Unit 1368

Unit Size 695 SF
Condo Use Office/Medical
Price $210,449 CAD ($302.80 CAD/SF)
NOI -
Sale Type Investment
No. Parking Spaces 1
Description
Reception area, conference room, private office and in suite restroom &amp; storage.</li></ul>
Sale Notes
Southwood Office Complex presents an appealing investment opportunity located along S Atherton Street in State College, a key commercial corridor with close proximity to Penn State University and robust residential and retail markets. The available office/medical condominium unit is currently leased under a true NNN arrangement, minimizing landlord involvement while providing stable income. The existing tenant agreement includes annual CPI-based rent adjustments beginning in 2026 and one remaining two-year renewal option, reinforcing long-term security for potential buyers.<br> Positioned on a parcel of nearly an acre, the property benefits from frontage on a high-visibility route with steady traffic counts and access to major local arteries leading into downtown State College. The building’s CP2 zoning supports a range of professional and medical uses, offering lasting flexibility and appeal to occupants. Ample surface parking and single-story design support smooth tenant operations and accessibility. The combination of low-maintenance structure, consistent cash flow, and surrounding economic strength makes this office condominium a practical solution for investors seeking reliable returns in an environment with enduring demand drivers led by education, healthcare, and business service sectors.</li></ul>

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
Total Building Size 695 SF
Property Type Office (Condo)
Building Class B
Floors 1
Typical Floor Size 695 SF
Year Built 1987
Lot Size 0.99 AC
Parking Ratio 1.44/1,000 SF
Zoning CP2 - Planned Commercial 2 - allows any use except specific exceptions in Commercial Zoning.

Amenities

  • Bus Line
  • Signage
  • Natural Light
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
  • Listing ID: 39025718

  • Date on Market: 2026-01-09

  • Last Updated:

  • Address: 1344-1374 S Atherton St, State College, PA 16801

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