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590-594 Galleria Dr
Johnstown, PA 15904
Retail Property For Sale
Investment Highlights
- Mark-to-Market & NNN Upside: In-place rents ~30%–50% below market; NNN rents estimated at $11–$14/SF
- Proven Tenant Longevity: Staples (33 years), Dunham’s Sports (27 years), Verizon (recent extension)
- Landlord-Friendly Leases: Pass-through and fixed reimbursements provide predictable income and easy management
- Recent 5-Year Extensions: All tenants recently extended, reducing rollover risk and stabilizing cash flow
- Strong Sales Performance: Dunham’s Sports reports strong annual sales.
Executive Summary
AMC Real Estate Investment Services is pleased to present this 100% occupied ±61,968 SF three-tenant power center located at 590 Galleria Drive, Johnstown, PA. Anchored by Dunham’s Sports and leased to Staples and Verizon, all tenants have recently executed 5-year lease extensions, providing stabilized cash flow and a ±5.1-year WALT. Staples has operated at the site for 32+ years, with Dunham’s Sports in its 27th year of occupancy, demonstrating long-term site durability.
The property features rare US-219 frontage with exposure to 30,000+ VPD and signalized access at the Galleria Drive interchange (14,000+ VPD). In-place rents are 30%–50% below market, offering significant mark-to-market and NNN upside. Offered at an 8.0% cap rate, this is a stabilized, institutional-quality power center in a supply-constrained retail corridor.
The property features rare US-219 frontage with exposure to 30,000+ VPD and signalized access at the Galleria Drive interchange (14,000+ VPD). In-place rents are 30%–50% below market, offering significant mark-to-market and NNN upside. Offered at an 8.0% cap rate, this is a stabilized, institutional-quality power center in a supply-constrained retail corridor.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
61,968 SF
Building Class
C
Year Built
1993
Price
$5,670,839
Price Per SF
$91.51
Cap Rate
8%
NOI
$453,667
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
5.66 AC
Zoning
C-2 - Commercial
Parking
315 Spaces (5.08 Spaces per 1,000 SF Leased)
Amenities
- Signage
Property Taxes
| Parcel Number | 050-116616 | Improvements Assessment | $348,600 |
| Land Assessment | $566,000 | Total Assessment | $914,600 |
Property Taxes
Parcel Number
050-116616
Land Assessment
$566,000
Improvements Assessment
$348,600
Total Assessment
$914,600
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