225 Columbia Mall Dr - EFO Furniture

30,000 SF Retail Condo Unit Offered at $1,426,470 in Bloomsburg, PA 17815

Investment Highlights

  • Tenant at Columbia Mall since 2017
  • Executed new 10 year lease on former Bon Ton space across from new Geisinger Hospital development
  • EFO operates 4 locations in PA and in business since 1981
  • Mall to be completely transformed with new tenants opening Nov 2024 (Michael’s & Ollie’s)

Executive Summary

Capital Commercial Partners is pleased to bring to the market this EFO Furniture Outlet Condo located at the Columbia Mall in Bloomsburg, PA. The investment offers an above market return with long term tenant at the mall. The tenant moved from the front of the mall and execute a new 10 year lease in the former Bon Ton space. This is a very successful location for EFO and they9ve been a tenant at the mall since 2017 and in business since 1981. The mall is undergoing a complete transformation to open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place. The property is in close proximity to Bloomsburg University with a student enrollment of approximately 9,600 students with a storied history being founded in 1839. It9s the 3rd largest of the 14 universities in Pennsylvania. It made the list of top universities in the northern region according to U.S. News and World Reports annual rankings. Bloomsburg is located in Columbia County and is 40 miles from Wilkes-Barre. It9s the county seat and the only incorporated town in PA.. This is a unique opportunity for an investor to acquire a great location, excellent return, upside with the mall transformation percentage rent, and at only $47.54 per square foot. This is substantially below replacement cost of more than $200 PSF. The roof & HVAC9s were replaced in 2017 upon the former Bon Ton space lease commencement.

Property Facts

Price $1,426,470
Unit Size 30,000 SF
No. Units 1
Total Building Size 30,000 SF
Property Type Retail (Condo)
Property Subtype Storefront Retail/Office
Sale Type Investment
Building Class B
Floors 1
Typical Floor Size 30,000 SF
Year Built 1988
Tenancy Single

1 Unit Available

Unit EFO

Unit Size 30,000 SF
Price $1,426,470
Price Per SF $47.55
Condo Use Retail
Sale Type Investment
Cap Rate 8.50%
NOI $121,250

Amenities

  • Pylon Sign
  • Signage

Nearby Major Retailers

Quaker Steak & Lube
Planet Fitness
Starbucks
ALDI
Ruby Tuesday
Perkins Restaurant & Bakery
Cracker Barrel Old Country Store
Olive Garden
Country Pride Restaurant

zoning

Zoning Code CC
  • Listing ID: 33883949

  • Date on Market: 11/15/2024

  • Last Updated:

  • Address: 225 Columbia Mall Dr, Bloomsburg, PA 17815