228 S Allen St
State College, PA 16801
Jeramar Plaza - Luxury Student Housing · Multifamily Property For Sale · 12 Units

Jeramar Plaza is a four-story luxury student housing complex and retail building with 4,800 square feet of retail space, and 12 two-bedroom / two-bathroom apartment units. The building was constructed in 2009. The first floor is divided into two retail spaces 3,300 square feet is leased and built-out for restaurant use. The front entrance of the space is built-out with a reception area and a waiting area. There is open seating with tables and booths. The rear of the space consists of a men’s and women’s restroom, an office, a kitchen and storage space. Access to the kitchen is available via a concrete ramp from the rear parking lot. The space consists of plate glass storefront windows, dry wall veneer walls, ceramic tile floors and acoustic tile ceilings with fluorescent lights. There is also a small outdoor seating area at the side of the building. The second unit on the first floor contains 1,500 square feet and is utilized as a retail store. The space is built-out for a sign production shop with a sales counter, several desks, an open work area and a rest room. The main sprinkler and elevator equipment rooms are located at the rear of the space. The build-out consists of vinyl tile floors, and exposed ceilings with fluorescent lights. The upper three floors each contain four apartment units and are accessible via either side of the building. There are two stairwells and a three-stop elevator. Nine units are approximately 1,090 square feet and the three units adjacent to the elevator on each floor are 1,040 square feet. Each unit consists of a living room, a dinning room, a kitchen, two bedrooms and two bathrooms. The typical apartment in this building has walltex walls, carpet, vinyl and resilient floors. The typical kitchens have vinyl tile floors, with formica base and wall cabinets. Baths have vinyl tile floors with a fiberglass wainscot and standard fixtures. The apartment units are furnished. All have a gas range/oven, refrigerator, disposals and dishwasher. The apartments have individual heat pumps with combination air-conditioning.